The land where the residential complex Odyssea Residence was to be developed and where the cosmonaut Dumitru Punariu had paid for two apartments is put up for sale.

Launched with great pomp in 2008, in the presence of the cosmonaut, the project promised 156 apartments in six buildings of five floors each. The price for sale per square metre was EUR 1,500. The crises caught the developers with only 10 pre-contracts signed.  The absence of the buyers and the crash of the real estate market led to the project’s bankruptcy.

The starting sale price of the land represents almost a third of the total value of the debts, of EUR 7.6 million, as shown by the claims report. Therefore, the following assets: the 8,000 sq. m land, the underground construction of 5,000 sq. m and the 4,000 sq. m construction above the ground are put on bid sale for EUR 2.65 million without VAT.

 If the land would be sold at this price, than the accepted secured debt of Alpha Bank, of 11.5 million lei will be covered.


On the other hand, the creditors with unsecured receivables, including Dumitru Prunariu and his son, will lose the advance payment for the apartments. (Source: