Since 2003, Alenosor has developed real-estate projects of all kinds, from commercial projects, to industrial parks, offices and residential homes. It has an investment capital of EUR 45 million and it managed to receive the “Green House” certification for Amber Gardens, according to Alex Skouras, Managing Partner at Alesonor, who was a speaker in the 18th edition of Business Review’s REALTY Forum.
“There are 4 partners in Alenosor. We came to Romania in 2003 with a Greek perspective and since we had seen many broken things at home, we knew what to expect. It took us more than a year to understand the local market and only after that we bought our first piece of land.
The market has grown. The Romanian perception was completely different from the Greek one. Despite the issues we have today, we’ve seen people who appreciated the work and tried to help and be useful. For example, if we didn’t have enough workforce, people tried to cover the need.
Prices on the residential market are still 30-40 percent lower than they were at the peak. But it was very bad for many people. Today all the developers have increased quality; before the crisis no one cared about quality and safety. Now, a passive home offers better life quality, better loan conditions and lower taxes. We are paying less for better homes.
I believe that all the things happening today and in the next 5+ years are creating neighborhoods that are better for the people and their children, even when we are talking about projects located outside cities. The way we work is changing and people get more time to stay close to home and are interested in these kinds of projects where you have everything you need, from kindergartens to supermarkets. Sustainability is the keyword for the future.”
Asked about the crisis that is predicted by some analysts, Skouras said “I don’t think there will be a crisis, but a correction, which can be good for the market. We will see the construction costs coming down that will be beneficial for the developer and for the customer.”