Two real estate companies have announced the launch of different residential projects in Bucharest. One of them targets an area close to the Parliamentary Palace downtown and the second focuses on ample buildings up the Dambovita river, in the Semanatoarea district.

Real estate company Regatta announced it would build the City Center Residence between the Carol Park slightly south of the city center and the Parliamentary Palace. The EUR 20 mln. project, including six blocks of flats is developed by the Europa Group Hanner and is due to end in summer 2007.

The second, revealed by Cotidianul, eyes a huge industrial platform up the Dambovita river to the north-west quarters of the capital, where the Semanatoarea factory used to lie.

The project, worth 700 million euro, involves the creation of no less than 1,200 flats by 2010, with the completion of a mall and other office facilities by 2015.