A new residential complex will be developed in the luxury Northern area of Bucharest, Pipera, with an investment adding up to 11 million euros, a press release of the Regatta real estate company informs.

The project, launched in October, covers a 4,910 square meters and includes three blocks of flats - a central one and two mirrored buildings.

The identical buildings are designed for 28 apartments on Ground +4+5, the central one will have only 7 apartments, Ground + 2 floors.

The price for the apartments will be between 115,000 and 160,000 euros +VAT for the two-room apartments, 148,000 Euro - 205,000 euros + VAT for three - rooms apartments and 193,000 - 250,000 euros + VAT for four-rooms apartments.

The flats should be available in December 2007.