Romanian real estate developer Impact awards EUR 23 mln contracts for residential projects

Romanian real estate developer Impact has awarded a EUR 16.75 million contract to local construction company DAS for the construction of its newest residential project in Bucharest, Luxuria Domenii Residence. The execution period is 16 months from the date of the commencement order. The developer also awarded a EUR 6.23 million contract to another construction company, Devbon, for six residential buildings in Bucharest’s District 1. Impact is one of the biggest residential developers on the local market. Its biggest project to date is the Greenfield residential project in Northern Bucharest. The company is controlled by local investor Gheorghe Iaciu and has a market value of EUR 56 million. editor@romania-insider.com