tbi bank provides €7.5 million financing to developer Astorium for the continued development of the Astorium Life residential project in the Pallady area

Interest in residential development projects in Bucharest remains strong, supported by demand for modern, efficient homes that are well connected to the city’s emerging urban growth areas. In this context, tbi bank is strengthening its role as a financial partner for experienced local real estate developers, supporting large-scale residential projects adapted to real market demand.

tbi bank is providing a €7.5 million financing facility, granted for a 24-month period, to Astorium Construct Investment, a developer active on the Bucharest residential market since 2018, to support the second phase of the Astorium Life project in the Pallady area. The facility has a 24-month maturity, with full repayment of the principal at maturity. The project has an estimated total value of over €70 million and will comprise six residential blocks with approximately 640 apartments, of which the first two blocks, totaling 242 apartments, have already been completed.

The financing will support the continuation of works for the next four residential blocks, which include around 400 apartments and have already reached a sales or pre-sales rate of approximately 65%. These four blocks serve as the bank’s collateral and as the source of repayment for the financing. Construction costs for the four blocks amount to approximately €28.15 million, of which €11.65 million has already been invested from the developer’s own funds and advances collected within the project. The remaining €16.5 million will be covered through the €7.5 million financing provided by tbi bank and approximately €9 million from the developer’s own sources.

“For us, financing residential projects is not just about supporting construction, but about contributing to the way cities and communities develop, with a direct impact on people’s quality of life. Astorium Life is a large-scale project located in an area of Bucharest that has grown rapidly in recent years and where demand for modern housing remains solid. Through this financing, we continue to act as a partner for experienced local developers that deliver projects adapted to people’s real needs: well-connected, efficient homes integrated into today’s urban lifestyle”, said Marius Constantinescu, Head of Business Banking Sales, tbi bank Romania.

Astorium Construct Investment recorded total revenues of over 121 million lei, equivalent to approximately €24 million, in 2025 and operates under the Astorium brand. Its portfolio includes two residential projects developed in the Pallady area, comprising 13 residential blocks, more than 1,000 apartments and a cumulative value of over €100 million. The developer also has experience in the logistics segment, having completed a warehouse in the same area of Bucharest between 2022 and 2024.

In parallel with its residential developments, Astorium is also expanding its presence in the logistics and commercial segments through Astorium Park Popești, a modern logistics and commercial park located in Popești-Leordeni, on Șoseaua Olteniței, with fast access to Bucharest, the Bucharest Ring Road and the A0 motorway. The project includes retail spaces, modular units for storage and logistics, as well as office areas and administrative spaces, and is designed for companies active in retail, services, logistics and warehousing. Through this development, Astorium is diversifying its portfolio and strengthening its investment focus on mixed-use projects adapted to the pace of urban growth in the eastern and south-eastern areas of Bucharest.

The Astorium Life project continues the company’s residential development direction through a new large-scale investment on a plot of approximately 20,000 square metres, located in one of the fastest-growing urban areas in eastern Bucharest.

“Astorium Life is a project through which we continue to develop modern homes in the Pallady area, one of Bucharest’s most dynamic residential districts. The experience we have gained since 2018, through the projects delivered so far, has shown us that there is solid demand for well-planned, efficient homes connected to the real needs of urban families. The financing provided by tbi bank supports us in continuing the second phase of the project and confirms confidence in a development model built on sustained progress and real market demand. Our ambition is for Astorium Life to become more than a residential project: an urban community where people feel at home”, said Ulas Dilmac, CEO, Astorium.

At the beginning of this year, tbi bank entered a new stage of development following its acquisition by Advent International, one of the world’s largest private equity investors, with $100 billion in assets under management.

About tbi bank

𝐭𝐛𝐢 bank is a mobile-first challenger bank in Southeast Europe and regional leader in alternative payment solutions, building an ecosystem by combining financing and shopping to address customers’ needs. It focuses on helping merchants to grow their business as well as providing consumers with financial products and services that make their lives easier. Currently operates in Bulgaria, Romania, Greece, and Germany. Through various digital channels and trusted partnerships with over 38,000 merchant stores, 𝐭𝐛𝐢 has a customer base of 2.7 million clients and issued over 1 million loans in 2025.