Two Forty Management residential projects awarded in London at the European Property Awards

Aurel Constantin 04/11/2019 | 22:07

Forty Management won the Residential Development Award with the Future Central District project134 and the Mixed Development (residential and commercial) award with the Central District 4 Elements project at the European Property Awards in London.

Thus, Forty Management has the last three projects developed internationally awarded in the category of real estate development, together with the two already listed, being also Central District Cuza99 awarded in 2017, residential project of which 43 apartments were sold in just three weeks from the beginning of sales. .

Forty Management has developed and sold a total of 89 apartments, is currently developing the Central District 4 Elements project with 194 apartments and 1,489 sqm of commercial space and is preparing to begin construction of the Central District of the Future134, which includes 33 apartments and 1,000 sqm of offices.

The company launched in Romania the affordable luxury strategy, which means an excellent price-quality ratio, and for the Central District 4 Elements project, for example, at a construction quality similar to that of the premium projects, the sale price is only EUR 1,250 per sqm, given that the average trading price in Bucharest for new apartments is EUR 1,400 per sqm.

“We try every project we develop to offer, together with decent prices and a high quality of housing, which will position us among the top European developers. Following the tradition of national premieres from previous projects – where in Central District Cuza 99 we created a green building of our own, with trees of 16 m high and magnificent gardeners on the facade, and in Central District 4 Elements we will implement for the first time in a real estate project residential a running track on the block and a relaxation area with outdoor cinema – and in the Central District of the Future 134 we will offer the first residential project with direct access to a tennis, basketball and football field, at night, exclusively for the residents. In this phase, off-plan sales, we sold 40 percent of the apartments and rented the entire office area. In an optimistic scenario, at the end of this year we will start to build. We are glad that this development direction is internationally validated through the prizes won by these projects”, says Lucian Azoitei, CEO Forty Management.

Forty Management was founded by Lucian Azoitei and Tudor Baditescu in 2015 and has so far completed 90 apartments in exclusive projects such as Central District Polona25 – with the most expensive penthouse sold in Romania in 2014 and Central District Cuza99 – the most awarded real estate project in 2017, and is currently developing 227 apartments in the projects Central District 4 Elements and Central District Viitorului134.

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