Constanta – ROMANIA PROPERTY CLUB

Impact announces delivery for the first phase of residential project in Constanta

Impact announces delivery for the first phase of residential project in Constanta https://romaniapropertyclub.ro/wp-content/uploads/2023/03/BOREAL_PLUS_IMPACT_CONSTANTA_RPC_ROMANIA_PROPERTY_CLUB.jpg 2000 1333 ROMANIA PROPERTY CLUB ROMANIA PROPERTY CLUB https://romaniapropertyclub.ro/wp-content/uploads/2023/03/BOREAL_PLUS_IMPACT_CONSTANTA_RPC_ROMANIA_PROPERTY_CLUB.jpg 07/03/2023 07/03/2023

07.03.2023

Constanta

IMPACT Developer & Contractor has completed the first 209 apartments representing the first phase of the Boreal Plus residential compound in Constanta.

The 209 apartments are located in three blocks and will be handed over to the new owners starting this month. At the same time, the developer also completed a 6-level parking building (S+P+4E) that includes 290 parking spaces. The building is equipped with electric car charging stations, two high-capacity elevators, and individual underground storage boxes . Boreal Plus thus becomes the first residential compound in Constanta with a multi-storey parking building, available for purchase by the residents.

The second development phase of the Boreal Plus compound in the north of Constanta will include 132 apartments, the entire project totaling 673 units with an estimated market value of over 84 million euro. The entire project also includes the construction of a private kindergarten, a park with playgrounds dedicated exclusively to residents, but also several commercial spaces.

IMPACT develops sustainable large-scale residential projects, getting involved in numerous social responsibility projects, for the benefit of the community. Thus, in December 2022, IMPACT completed the construction of a roundabout in Constanța city, located at the intersection between Tomis Boulevard and Amsterdam Street. The new roundabout improves road traffic both for the residents of the new Boreal Plus residential compound, as well as for those who live in the other neighborhoods located in the north of Constanta and for all those who transit the city towards Ovidiu and A2 highway, streamlining traffic and increasing safety on this section. The total investment in this public infrastructure project amounted to over 450,000 euro, the beneficiary being the National Road Infrastructure Administration Company (CNAIR) through the Constanta Regional Roads and Bridges Directorate.

Constanta: untapped potential on office & logistic sectors.

Constanta: untapped potential on office & logistic sectors. https://romaniapropertyclub.ro/wp-content/uploads/2022/11/CONSTANTA.jpg 1200 800 ROMANIA PROPERTY CLUB ROMANIA PROPERTY CLUB https://romaniapropertyclub.ro/wp-content/uploads/2022/11/CONSTANTA.jpg 21/11/2022 21/11/2022

Located in the South-Eastern part of Romania, Constanta is a city holding tremendous development potential, due to its opening to the Black Sea and the Danube navigable channel, but which recently reached into the attention of large real estate developers. The modern office segment is not at all represented, the city holding no major office investment.

On the retail sector, the modern stock stands at 183,600 sqm, while the retail stock density (SQM/1,000 Inhabitants) stands at 586, according to CBRE. The city’s dominant retail projects are VIVO! Constanta (51,000 sqm), in the portfolio of Immofinanz and City Park (52,200 sqm) in the portfolio of NEPI Rockcastle.

On the industrial & logistic sector, the first major modern project, Constanta Business Park, is developed on a plot of 100 hectares, near Constanta port, in partnership between Globalworth and Global Vision.

The residential sector attracted the largest share of investments from the entire real estate market. Besides the demand for new, modern units for the inhabitants of the city, the seaside area (Mamaia Navodari & Neptun-Olimp) also is seeing a notable development on the vacation homes sector.

Some of the major investors include Impact, Gran Via, Certion, Maurer Imobiliare or One United Properties. Olimp resort in the South part of Romania’s coast is in full transformation, through investments of over 700 million euros until 2025. Romanian property developer Certion finalized here VOGH project. The 12-storey VOGH complex totals 173 apartments, out of which 85% have been sold, with a total value of 57.6 million euros.

CERTION completes VOGH Olimp project, less than two years after the works started

CERTION completes VOGH Olimp project, less than two years after the works started https://romaniapropertyclub.ro/wp-content/uploads/2022/11/15.jpg 1536 864 ROMANIA PROPERTY CLUB ROMANIA PROPERTY CLUB https://romaniapropertyclub.ro/wp-content/uploads/2022/11/15.jpg 08/11/2022 20/11/2022

08.11.2022

Constanta

The real estate developer CERTION announces the completion of VOGH project, the first brand residences operated as a hotel in Olimp, less than two years after the start of the works. Thus, the company is preparing to start the reception process and then the delivery of the apartments to customers, with the project to be opened to guests in the first part of next year.

Located and developed in Olimp resort, which is in full transformation through investments of over 700 million euros until 2025, the 12-storey complex totals 173 apartments, out of which 85% have already been sold, with a total value of 57.6 million

“The successful completion of 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. For the entire team, delivery to the promised standard and on time was the main objective 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 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 brand 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 completed. GALILEO Olimp Resort & Residences is also in an advanced stage of execution, whose construction was started at the end of 2021 and whose delivery is 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.