Real estate brokerage Sterling Advisors Romania has signed the sale of a 3-room apartment at a remarkable price of €6,000 per useful square meter in the boutique residential complex Centralis Apartments, developed by the Arora family — shareholders of Peeraj, one of Romania's most important fashion franchise groups — according to information obtained by Profit.ro.
The Sachin, Vinod, and Mihaela Arora family purchased a 950-square-meter plot of land adjacent to the Arcub theater on Batiștei Street in the heart of Bucharest from Compania Hotelieră Intercontinental România (owned by the Adamescu family) for €1.75 million (€1,842 per square meter).
The seller cited an urgent need for funds, as the pandemic had forced the closure of the Intercontinental hotel. The money was used to pay off loans.
Austrian construction firm Strabag had submitted two offers for the land in 2016 and 2017 at €1,050 and €1,379 per square meter respectively, and Dutch investor Johannes Jozefus Maria Baakman, owner of Magazinul București, offered €1,500 per square meter — but all were deemed insufficient by the seller.
The Rock Development real estate group, led by former banker Mircea Cotigă, offered €1.85 million, but the offer was considered insufficient because the price was conditional on obtaining the building permit.
The Arora family built the Centralis residential project on this plot — 21 luxury apartments across a 4-story building, designed in reinterpreted art deco style by architecture firm Rubrick.
A 3-room apartment with 85 square meters of useful surface plus a 35-square-meter terrace has now sold in this complex for €540,000, excluding VAT — €6,350 per useful square meter.
"The apartment had previously been transacted one year ago at a price 15% lower," says Alin Simon Popa, managing director of Sterling Advisors and the broker who facilitated the sale.
The Arora family is also preparing the Știrbei Vodă 132 residential project — 18 apartments — in which serial entrepreneur Sergiu Roșca (one of the founders of GapMinder, a venture fund for technology start-ups) has been brought onto the investor team.
Profit.ro sources in the real estate market say the Arora family also owns several villas in the Dorobanți-Capitale area.
About the Peeraj group
The Arora family is known as the developer of the Peeraj Brands International fashion retail network, which at its peak in 2017 reached over 100 stores and revenues of nearly 300 million lei. The sale of the 54-store CCC shoe franchise network in Romania to CCC's Polish parent company in a €33 million transaction halved Peeraj's business, and subsequently the pandemic forced closure of some stores.
The group now operates about 30 stores in Romania. In response to pandemic-driven changes and the closure of Peeraj's physical stores, the group launched the online store distinctive.ro in the winter of 2020.
Peeraj operates franchise stores in Romania under the brands Swarovski, Emporio Armani, Boggi, Geox, Miniso, and Skechers.
Part of the proceeds from the CCC network sale was used to acquire the four-restaurant Calif-Condimental chain in Bucharest.
The Peeraj Group is one of the most important logistics service providers in the United Arab Emirates, handling both general and hazardous cargo. It is also a principal supplier of pipe, fitting, flange, and valve packages for oil and gas projects across the Middle East, India, Pakistan, Bangladesh, and the African continent.
Source: Profit.ro. Author: Alexandru Urzică. Originally published 1 February 2026, 10:28.