News from Companies

EUR 13 mln residential project developed by Forty Management in Bucharest sold out one month before completion

•Forty Management’s fifth consecutive project sold out before handover •The first green building in Bucharest that fulfils requirements of the new nZEB standard •Mixed-use development combining real estate development with urban art •Residential Development Romania Award at the International Property Awards, London, for the best development in Romania •Forty Management registered a consolidated turnover of RON 132.2 million and a net profit of RON 80.7 million (IFRS standard), at the end of 2021

Forty Management, a leading Romanian real estate developer of innovative mixed-use sustainable projects, sold out Central District Viitorului 134 project one month before construction completion. The gross development value is EUR 12.8 million without VAT.

Central District Viitorului 134 is a boutique residential project, located in the central area of the capital, that includes 40 apartments divided into two buildings, an office and commercial space of 1,000 square meters. The construction works started in 2021 and will be completed by the end of November 2022.

"This is the fifth consecutive project sold out before handover to the beneficiaries, a unique performance on the Romanian market that we steadily recorded for a long time, not by chance. Our innovative developments, at the highest sustainability standards, are appreciated by our clients, and this shows as all our projects are successful. Part of the same process of building sustainably, we endow our traditional facilities with innovative technical and aesthetic solutions, which sometimes may be more difficult to notice at a first glance but are crucial for the comfort of the beneficiaries," says Ana Ciobanu, Executive Manager Forty Management.

Central District Viitorului 134 is the first green building in Bucharest to meet the requirements of the new nZEB (nearly Zero Energy Building) standard.

The concept was designed by the renowned architect Daniel Ciocăzanu, from Dooi Studio, with a portfolio of reference in Paris, London, Dubai, and Bucharest. The urban art creations, painted walls and open art gallery placed in the common space of the building are unique elements in the local residential market. The most impressive creation is a blue giraffe "feeding" on the leaves of an enormous 8-meter-high pergola.

"When we develop a project, we aim for the perfect balance between architecture, design, innovation, premium finishes, location, sustainability and special complementary facilities for future tenants. Central District Viitorului 134 is the latest project added to the Central District portfolio that takes all of these elements into account. We believe that such residential compound, offering a high quality of living and the comfort of a quiet community, right in the centre of Bucharest, with access to all urban infrastructure, will be a winning formula in the years to come, regardless of the global economic context,” added Lucian Azoitei, CEO Forty Management (opening photo).

Central District Viitorului 134 is the winner of the Residential Development Romania award at International Property Awards, London, for the best development in Romania in 2020, and is pre-certified as a Green Building by the Romanian Green Building Council.

In 2021, Forty Management recorded a consolidated turnover of RON 132.2 million (EUR 26.8 mln) and a net profit of RON 80.7 million (IFRS standard).

The company is owned by Azoiței family with 88.4% of the total shares.

 

This is a press release.

Normal
News from Companies

EUR 13 mln residential project developed by Forty Management in Bucharest sold out one month before completion

•Forty Management’s fifth consecutive project sold out before handover •The first green building in Bucharest that fulfils requirements of the new nZEB standard •Mixed-use development combining real estate development with urban art •Residential Development Romania Award at the International Property Awards, London, for the best development in Romania •Forty Management registered a consolidated turnover of RON 132.2 million and a net profit of RON 80.7 million (IFRS standard), at the end of 2021

Forty Management, a leading Romanian real estate developer of innovative mixed-use sustainable projects, sold out Central District Viitorului 134 project one month before construction completion. The gross development value is EUR 12.8 million without VAT.

Central District Viitorului 134 is a boutique residential project, located in the central area of the capital, that includes 40 apartments divided into two buildings, an office and commercial space of 1,000 square meters. The construction works started in 2021 and will be completed by the end of November 2022.

"This is the fifth consecutive project sold out before handover to the beneficiaries, a unique performance on the Romanian market that we steadily recorded for a long time, not by chance. Our innovative developments, at the highest sustainability standards, are appreciated by our clients, and this shows as all our projects are successful. Part of the same process of building sustainably, we endow our traditional facilities with innovative technical and aesthetic solutions, which sometimes may be more difficult to notice at a first glance but are crucial for the comfort of the beneficiaries," says Ana Ciobanu, Executive Manager Forty Management.

Central District Viitorului 134 is the first green building in Bucharest to meet the requirements of the new nZEB (nearly Zero Energy Building) standard.

The concept was designed by the renowned architect Daniel Ciocăzanu, from Dooi Studio, with a portfolio of reference in Paris, London, Dubai, and Bucharest. The urban art creations, painted walls and open art gallery placed in the common space of the building are unique elements in the local residential market. The most impressive creation is a blue giraffe "feeding" on the leaves of an enormous 8-meter-high pergola.

"When we develop a project, we aim for the perfect balance between architecture, design, innovation, premium finishes, location, sustainability and special complementary facilities for future tenants. Central District Viitorului 134 is the latest project added to the Central District portfolio that takes all of these elements into account. We believe that such residential compound, offering a high quality of living and the comfort of a quiet community, right in the centre of Bucharest, with access to all urban infrastructure, will be a winning formula in the years to come, regardless of the global economic context,” added Lucian Azoitei, CEO Forty Management (opening photo).

Central District Viitorului 134 is the winner of the Residential Development Romania award at International Property Awards, London, for the best development in Romania in 2020, and is pre-certified as a Green Building by the Romanian Green Building Council.

In 2021, Forty Management recorded a consolidated turnover of RON 132.2 million (EUR 26.8 mln) and a net profit of RON 80.7 million (IFRS standard).

The company is owned by Azoiței family with 88.4% of the total shares.

 

This is a press release.

Normal
 

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