Banca Transilvania is providing EUR 10 million in financing to STC Partners to add over 100 residential units to the Quartier Azuga residential development in the Tei area of Bucharest. The project’s first phase was also financed by BT, with EUR 6 million, in January this year.

Quartier Azuga is built around modern living conditions and environmental responsibility, translating into higher living standards, significant savings on utility costs and a lower carbon footprint.

Banca Transilvania supports high-quality green real estate projects such as Quartier Azuga. Our additional investment in developing this new green residential community underscores our confidence in the quality of the project and in its contribution to the urban landscape and quality of life in Bucharest.

Cosmin Călin, Executive Director, Large Corporate, Banca Transilvania

Securing the development loan for the second phase before completing the first is a good indicator of our project’s success and of our development team’s capabilities. This continued partnership with Banca Transilvania ensures the on-time completion of Quartier Azuga; we thank our partners at Banca Transilvania.

Andrei Ștefan, Partner, STC Partners

The entire Quartier Azuga project will be completed in the second half of next year.

Banca Transilvania was the first bank in Romania to offer financing for energy efficiency in the residential sector, starting in 2007.