Romanian developer and US company to invest EUR 630 mln in man-made lagoons in seven European cities

Romanian developer Forty Management has announced a new partnership with US company Crystal Lagoons to develop man-made lagoons in seven new cities across Europe. The Lagoon City concept will be scaled up in Rome, Milan, Toulouse and Sevilla, while Public Access Lagoons (PAL) will be developed in three other European cities yet to be announced.

These developments involve a EUR 630 million pipeline and are in addition to those already initiated in Bucharest, Budapest, Prague, and Warsaw.

“We are delighted that one of the world’s most innovative companies, which invented the artificial lagoon technology, has chosen Forty Management to start these projects across Europe. Together with our partners at Crystal Lagoons, we aim to bring the sea to some of the continent’s most beautiful cities,” said Lucian Azoiței, Forty Management’s CEO.

Forty Management’s portfolio currently includes eight mixed-use Lagoon City projects and 11 Public Access Lagoon projects to be developed in seven countries - Romania, Hungary, Czech Republic, Poland, Italy, France and Spain. In addition, there are three luxury hotels totalling 695 rooms - Radisson Lagoon and Crest Collection in Bucharest, along with the Lagoon City Budapest hotel (the brand will be announced after negotiations are completed towards the end of the year).

(Photo source: the company)