Forte Partners lays out ambitious strategy for residential investments

After building a brand in the office segment, Romanian real estate developer Forte Partners will accelerate its investment in the residential sector in Bucharest, having delivered three boutique buildings of luxury apartments in the city center, says Business-Review.eu.

The company has already announced that it will invest EUR 37 million in a residential project in north Bucharest that will have 352 units.

Geo Margescu, founder & CEO of Forte Partners, told BR in an interview that the entire Aviatiei project will be completed at the start of 2019, with 40 percent of the first phase having already been sold. He also described how the company had decided to get into this segment.

Margescu says that Forte Partners will not stop here and new projects will be made public in the residential sector in the near future.

“We would like to develop some more. We are inventing our opportunities; we do have some land of our own and we are actively looking for new plots. We’ll announce another residential project maybe at the beginning of next year,” said the executive.

He added, “We don’t have a timeline of announcing one project after the other, but we are very committed to the market and we would like to capitalize on what we have done so far, both office and residential, to continue this success story of ours, and to keep on making good quality projects.”

With the company already developing office projects in the central and central-western parts of Bucharest, the core question is whether Forte Partners will take a strategic step into developing buildings that also include residential components. Key players in the property sector have kicked off mixed-used projects in Bucharest and other large cities such as Timisoara and Cluj-Napoca. Investors say they are looking to build communities in which people spend little time traveling from home to work, giving them more time to spend with their families and on leisure activities.

 

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