Alfa Group’s real estate division is strengthening its hold on Bucharest’s high-end housing sector with a total investment of €170m in the flagship Cloud9 project. Located in the capital’s most dynamic business district, the development is split between the completed Cloud9 Residence (€80m) and the ongoing Cloud9 Evolution phase (€90m), positioning the group as a key player in shaping the city's premium urban lifestyle.
Completed in 2021, Cloud9 Residence delivers over 70,000 m² across four buildings, offering 820 modern apartments ranging from studios to four-room units. Right next door, Cloud9 Evolution is under construction, set to add 612 apartments and 658 parking spaces, all wrapped in the “15-minute city” concept that promises convenience, connectivity, and sustainable urban living. The developments reflect a growing demand for integrated living experiences that balance personal well-being with city life.
"Cloud9 Evolution was designed to fully embrace the '15-minute city' principles, giving residents easy access to key city points such as office areas, educational institutions, shopping centres, and wellness centres. The project addresses the need to balance career and personal life within a sustainable, functional urban environment that fosters a connected and secure community with investment potential, in one of Bucharest’s most dynamic areas," stated Razvan Brasla, CEO of Cloud9 Residence.
In a move that speaks to market confidence, Alfa Group is financing the development through a mix of internal funds and bank loans, without relying on buyer deposits. "Project financing has been provided entirely from own funds and bank loans, with no reliance on deposits received from clients. In line with international practice in the real estate sector, the advance payments have been secured in an escrow account," added Brasla. This risk-averse and transparent financial model ensures project continuity and buyer security, appealing to investors and end-users alike.
Alfa Group’s broader real estate portfolio spans more than 1 million m² of residential and office space, including the Oscar One, Eminescu Offices, and 21 Residence projects. Its current pipeline includes the €90m Akcent City development in Bucure?tii Noi, already over 70% sold and due for completion in 2025. As urban lifestyles evolve, Alfa Group continues to lead Romania’s premium property scene with its vision, experience, and execution.
People Mentioned:
-
Razvan Brasla, CEO of Cloud9 Residence
Companies Mentioned:
-
Alfa Group – Real estate, energy, and insurance conglomerate
-
Akcent Development – Real estate development arm of Alfa Group
-
Cloud9 Residence – Premium residential development in Bucharest
-
OSCAR Downstream – Part of Alfa Group, operating in Oil & Gas
-
Onix Asigur?ri – Corporate insurance company, part of Alfa Group
Get the latest real estate news and investment insights from Europe Real Estate - your trusted source since 1999. To receive daily or weekly updates. Sign up here!
