Owner of QFort invests EUR 25 mln in residential project in Craiova, Romania

Romanian investor Stefan Cherciu, the owner of windows and doors producer QFort, has invested EUR 25 million in a residential complex with 235 apartments to be built in central Craiova, Dolj county, Romania. The complex will include eight apartment blocks with 2, 3 and 4-room apartments, and penthouses. “The complex will be called Bujorului Residence and is the first large residential development in Craiova. The development process will be done in stages of 30 apartments, and the construction is set to begin this year, the project currently pending authorization,” said Ioan Catutoiu, the general manager of real estate consultancy firm RealTime, quoted by local Mediafax. Stefan Cherciu purchased the 11,000-sqm land in central Craiova in 2008. Casa Noastra produces PVC windows and doors and thermal insulation glass under the QFort brand in the factory near Craiova. The manufacturer exports to Austria, Belgium, Switzerland, France, Germany, Italy and Portugal. In 2012, the company increased its turnover by 39 percent to some EUR 28 million. Irina Popescu, irina.popescu@romania-insider.com (photo source: bujoruluiresidence.ro)