Adama wants to pump up its residential investments around Romania. The developer said it has enough land across the country to build approximately 20,000 homes on, though it started work on just 200 units this year. To develop all the property in its regional portfolio, Adama said it would need 30 years.
The developer wants to step up its construction efforts and hopes to average 600 apartments per year by 2015, said Andreas Holler, executive board member of Adama.
The Austrian developer recently hired Bog’Art to build 210 apartments in the country’s Titan area, which will sell between €820 and €900 per sqm. Adama sold about 100 apartments in the last 20 months and currently has approximately about 400 units in its portfolio.
