Forte Partners plans EUR 200 mln investments in Bucharest office & residential projects

Real estate developer Forte Partners, founded by Romanian investors Geo Margescu, Ionut Dumitrescu, and Johny Jabra, plans EUR 200 million worth of new investments this year in office and residential projects, reports local Profit.ro. The developer worked on two projects worth EUR 100 million in 2016. It finalized a small office building on Stefan cel Mare Boulevard, worth EUR 19.5 million, and started the first phase of the business park The Bridge, located near the Basarab flyover. The office building, whose biggest tenant will be local bank BCR, is expected to be completed this fall. The building will have 13 floors and the total investment is estimated at EUR 80.5 million. This year, the company will start work on the project’s second building and kick off a residential project in Northern Bucharest. The investments in these new projects will amount to EUR 200 million. The residential project is still in a concept stage and will be delivered in two phases. The first one should be completed next year. editor@romania-insider.com