The developer Forty Management sold the 204 apartments in the Central District 4 Elements project, where construction work began in 2019, and rented the 1,700 sqm commercial space to Profi, an organic store, a logistics company and a fitness operator.
“Even though we built this ensemble in the middle of a pandemic, we managed to meet the promised deadlines. It is an extraordinary performance, it was very difficult to achieve and it meant a considerable increase in costs for us, because we had major staff variations due to the Covid 19 pandemic. There were whole teams and companies that were left without people on site, because they were all quarantined for 2 weeks . We preferred to bring new teams and companies, at completely different costs, just to meet deadlines to customers. We completed this 26,000 sqm project in just a year and a half, a year full of restrictions. Even if the real estate market functioned during this period, construction costs have exploded, and will certainly be reflected in the sale price. Whoever contracted an apartment last year is a winner “, says Lucian Azoitei, CEO of Forty Management.
