DRS-Architects: 3.5 million RON turnover in 2023, a 50% increase yoy

DRS-Architects, an architecture firm specialized in designing large-scale shopping centers and residential complexes, announces a turnover of 3.5 million lei (700,000 euros), marking an increase of over 50% compared to 2022. The positive evolution can be attributed to the expansion of the services portfolio and the contracting of complex projects that combined the commercial and residential segments. Another milestone for 2023 was entering the HORECA segment with the design of the first international hotel chain in Bacău. Considering the market evolution and investments made in team consolidation, DRS-Architects estimates a turnover of 1 million euros for 2024.

Despite a sensitive and unpredictable economic context, the real estate market offered numerous opportunities in 2023, with mature investors continuing large-scale projects in both residential and commercial-retail sectors. These were also the main business lines focused on by DRS-Architects in 2023, generating over 45% of the company’s turnover.

“We are a team that understands the importance of delivering projects that are not only creative but also cost-efficient for the investor’s budget. This has been a significant differentiator in recent years, as clients have been more cautious and budget-conscious due to the challenging economic environment. Additionally, this new investor behavior has been reflected in the sizes of the projects requested, which are larger but with a higher degree of phasing,” said Andrei Lefter, Managing Partner, and founder of DRS-Architects.

In 2023, among the significant projects undertaken by DRS-Architects were the expansion design of Arena Mall in Bacău, along with the development of the first international hotel in the city, Hotel Mercure, part of the Accor group, as well as two residential complexes, all under the same investor. These projects represent a total designed area of over 80,000 square meters.

Other notable projects from the previous year include the development of two urban plans for regulated protected areas at the request of one of the top retailers in Romania, as well as the design of a premium residential neighborhood in 1 Decembrie, Ilfov. Another business line was represented by collective housing residential projects – student dormitories and collective housing for the elderly.

“Collective housing has unique characteristics, and we have tried to offer more than just living space through our projects. Regardless of the category of end-users we address, the projects aim to create recreational spaces, not just functional ones, which contribute to improving the quality of life for residents,” explained Andrei Lefter.

The Unique Student Housing project, with a total designed area of 65,000 square meters, obtained construction authorization at the end of 2023, while the Cluj Senior Village was completed in September.

In 2023, DRS-Architects also won the second prize at the International Solutions Competition “Victoriei Square, Timișoara”, organized by the Romanian Order of Architects, together with the contracting authority, the Municipality of Timișoara. The competition involved the urban rehabilitation of a city landmark space.

“Architecture competitions and, in general, public investment projects are of interest to us because we feel that we can have a considerable impact, influencing the people’s quality of life and how they perceive the cities they live in. In fact, this development direction was the basis for the growth and consolidation of the team with new partners experienced in monument intervention, who will coordinate such large-scale and impactful projects,” added Andrei Lefter.

1 million euros, turnover in 2024

Furthermore, for 2024, DRS-Architects will continue to focus on commercial and retail projects, as well as on the hotel segment, where there is a pronounced positive dynamic driven by increases in domestic and international tourism in recent years. The company estimates that 2024 will bring a minimum of 35% increase in turnover, bringing DRS-Architects to the threshold of 1 million euros.

“We anticipate a challenging economic year, but still sustained in certain socio-political contexts. The residential segment remains uncertain, at least in Bucharest, where we have seen stagnation for several years, but also generally due to difficult crediting conditions that raise questions for both investors and end-users. We believe that projects in the retail, industrial, and commercial sectors will continue to be of interest to investors, towards which we will also focus,” concluded Andrei Lefter.