Geo Margescu, the founder & CEO of Forte Partners, told BR that the developer is exploring new investments in the residential segment.
The Romanian developer is currently working on Aviatiei Park, the residential project located in northern Bucharest that will have 352 apartments. The project, which requires an investment of EUR 37 million, is slated for delivery in early 2019, according to Margescu. The company has previously worked on three residential boutique projects: London 27, Calderon 80 and Suvenir 1. All the luxury apartments located in the three buildings in central Bucharest have been sold, said Margescu.
“We do see the value of the mixed-use projects, when those are possible. Some of our future projects have both components of office and residential, and a bit of retail,” said Margescu. Although he didn’t elaborate on this, he said that the company has pieces of lands in northern, central, western and southern part of the city.
“We’ll announce another residential project maybe at the beginning of next year,” he added.
In the office segment, Margescu said that the second phase of The Bridge office project, located in central-western Bucharest, will be delivered in January 2019.
The CEO added that the value of Forte Partners’ office portfolio stands at around EUR 200 million. This includes the delivered projects, those under construction alongside those in the permitting stage.
The executive said the first phase of The Bridge has been fully leased. The Stefan cel Mare building has reported the same result.
Read more about the plans of Forte Partners and its development strategy for the next years in the new edition of Business Review that will be published at the end of November.