Bogdan Iliescu, Nusco Imobiliara: The transition to a green economy is now shaping the real estate sector

In an insightful conversation for the new cover story of the February edition of Business Review Magazine, titled “Industries to watch in 2024,” we had the pleasure of sitting down with Bogdan Iliescu, the Commercial Director at Nusco Imobiliara. Navigating through the dynamic world of real estate and commercial strategy, Bogdan shares his perspectives on the current landscape, strategic endeavors, and the future trajectory of Nusco Imobiliara in the market. This exclusive interview explores the trends, challenges, and innovative approaches that define the real estate sector in 2024, offering an intimate glimpse into the leadership and vision steering Nusco Imobiliara towards new horizons.

What are the main opportunities and challenges in the real estate sector in 2024?

Just like last year, I think 2024 will be a challenging year. But where there are challenges, we also have opportunities. Last year we launched the 2nd phase of the Nusco City project, finishing the year with sales that surpassed 30% of the total of 840 apartments. The month of January started very well for us, and we are confident that during this year we will trade more than 70-80% of the total housing units. The good pace of sales gives us confidence for this year, and we will be able to start new phases of development inside Nusco City.

Considering that this year is an electoral year, changes in local or national regulations can impact the real estate sector. Staying abreast of and adapting to regulatory shifts will becrucial for all in this field.

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We are also paying attention to the fluctuations in the cost of labour and materials, which can impact our project budgets.

Our commitment to urban renewal by revitalizing the Pipera platform will be the greatest opportunity for us as a real estate developer.

On the same level we are reshaping the image of Tunari, where we are developing Nusco Homes, a project that stands out from all that is being built currently in proximity to us. The level of infrastructure we are providing to our clients is very high, so in this we find our challenge, to make our client understand that a house project can have the same facilities and infrastructure as a project inside a city.

Considering the sustained pace we have in the residential segment, here we will make a margin for 2024. At the same time, we want to come up with a part of educational services in both projects we have in development. In Nusco City we will start the construction of a school that will have the complete educational cycle, 0 to 12 grade and in Nusco Homes we will deliver in September a kindergarten with a capacity for 160 children.

Digitization and the transition to a green economy are now shaping the future of real estate sector, they are no longer just trends.

In our projects, we strive to have green building practices so we can better incorporate renewable energy and have energy efficient standards.

All these factors will enhance the value of our properties so we will attract a wider range of buyers. And by embracing these practices we are contributing to the long-term sustainability of our developments.

But all these processes will also have an impact on our cost of construction and respectively on the sales prices. So, there is a fine line between them, and we must pay attention so it will not impact our project budgets.