Romanian company German Quality Solution will invest 4.7 million euro to develop a residential project in the heart of Romania’s capital city, Bucharest according to the real estate consultancy company, Regatta.

The project, Speranta Residence, is co-financed by Alpha Bank and plans to build 40 flats by 2009. The value of an apartment starts from 1,550 euro per square meter plus V.A.T plus another 15,000 euro plus V.A.T for those wishing a parking lot.

According to Regatta, the flats are fully equipped and the building has video surveillance cameras and 24 hours security.