Romanian developer CERTION finalizes its first branded residences project on the Black Sea coast - VOGH Olimp
Romanian real estate developer CERTION announces the completion of the VOGH project, the first branded residences operated as a hotel in Olimp, one of the most popular resorts on the Romanian Black Sea coast.
Less than two years after the start of the works, the company is preparing to start the reception process and then the delivery of the apartments to customers. The project will welcome its first guests in the first part of next year.
Located and developed in the Olimp resort, which is in full transformation through investments of over EUR 700 million ongoing and planned until 2025, the 12-storey complex totals 173 apartments, 85% of which have already been sold, with a total value of RON 57.6 million.
"The successful completion of the VOGH Olimp complex, despite the less favorable context of the last two years, confirms our ability to fulfill our promises to our investors and customers. Delivery to the promised standard and on time was the main objective of our team during this period," said Cătălin Scripcaru, CEO of CERTION.
Among the main facilities available to guests and residents of VOGH Olimp is the spectacular infinity pool on the 11th floor overlooking the sea, unique on the Romanian coast. Added to that is the unique CIGAR BAR on the same floor plus a chic SPA area. The property benefits from hotel services specific to authentic brand residences. The hotel custodian of VOGH Olimp is the Loyal Paladin company, which will operate the largest alliance of branded residences in Romania, with a portfolio that will include approximately 2,000 accommodations until 2026.
The chain of branded residences operated by Loyal Paladin and developed by CERTION in the South of the Romanian coast, includes 5 projects, of which VOGH Olimp is the first one completed. GALILEO Olimp Resort & Residences is also in an advanced stage of execution, with delivery estimated in the second half of next year. The other three CERTION projects in the South of the Romanian coast, LAGO, SOLANTIS in Neptun and PHAROS in Olimp are in the authorization stage.
CERTION was created in 2015 by Cătălin Scripcaru, Cezar Ionescu and Bogdan Căruntu, top professionals in the industry, with recognized experience in the development of real estate projects. Over the past 20 years, CERTION's founding team has amassed an impressive portfolio of projects, all successfully initiated, developed and delivered. Their cumulative value is over EUR 900 million. Focusing on challenging and visionary projects that go beyond the scope of projects initiated by most developers, CERTION has an approach designed to create a shared vision with communities and to provide both social value, as well as commercial value.
About Loyal Paladin
Loyal Paladin is a company that entered the local market in the first half of this year and specializes in luxury hospitality management. In Romania, Loyal Paladin will operate the largest alliance of branded residence hotels. The company's portfolio will include the hotel brands VOGH Olimp, GALILEO, PHAROS, LAGO-SOLANTIS from the southern coast and JAKOB SONNE from Poiana Brașov. Loyal Paladin is currently the operator of the EPICO villa in Olimp (epico.ro) and of the MOUSSAY Beach Club Olimp (moussaybeachclub.com).
This is a press release.