The Romanian real estate developer Forty Management, which completed the sale of the 204 apartments in Central District 4 Elements, rented 500 sqm of the project’s commercial area of a total area of 1,400 sqm, to the retailer Profi, for a period of 15 years. The developer is currently negotiating the lease of the remaining available surface with a number of interested companies.
”After the contract signed with Profi, which will launch for the first time in Bucharest a new store concept in this location, we want to bring in the rest of the space a restaurant or a medical clinic. We believe that the restaurant, together with an event center would be the most suitable, due to the high population density in the area, which reaches 300,000 people on a 10-minute walk around the project. Our intention for this space is to serve the community”, says Lucian Azoiței, CEO Forty Management.
The mixed project Central District 4 Elements, located at the intersection of the Fizicienilor Boulevard with Camil Ressu, is integrated in the company’s strategy to develop real estate projects with mixed function and urban regeneration on the Romanian market.
Central District 4 Elements has a residential component, with 204 apartments, and a commercial component, with 1,400 square meters net rentable area. The assembly is to be delivered in Q3 / 2020.
Forty Management, a company controlled by Lucian Azoitei, is working on projects of 150,000 square meters of mixed spaces – residential, commercial and office – for the next three years, totaling investments of over 140 million euros. Central District 4 Elemente is the winner of the 2020 Mixed Use Development Romania at the International Property Awards and the pre-certified Green Building.
The International Property Awards are dedicated to residential and commercial project professionals around the world and are spread across regions covering Africa, Asia Pacific, Arabia, Canada, the Caribbean, Central and South America, Europe, the UK and the USA.