Ádám Ambrus, Manager of Amera Grup, talked to Property Forum about the firm’s strategic expansion, including the Ibis Styles Cluj-Napoca hotel development. He discussed new industrial parks in Oradea and Arad, the rapid growth of their self-storage business, and the importance of aligning investments with infrastructure progress.
This interview was first published in Property Forum’s annual listing of "The 50 most influential people in Romania’s real estate market”.
With the Ibis Styles Cluj-Napoca scheduled for an H1 2028 opening, what are the primary construction milestones being met this year?
This year marks the transition into full execution; terrain and infrastructure works have already started, and the main construction phase begins in August. Our target is to complete the structural works by the end of the year, which is a critical milestone for keeping the overall timeline on track. In parallel, we are finalising the interior design technical project by July, ensuring that once construction advances, all downstream phases can move without delays. The objective is to complete construction by the autumn of 2027, allowing sufficient time for pre-opening activities and the authorisation process ahead of the planned opening in the first part of 2028. The focus is on maintaining speed while keeping tight control over quality and coordination.
How is Amera Grup navigating the shortage of local labour and rising material costs?
Rising material costs are a real challenge, and the situation has become even more volatile following recent geopolitical tensions. The key is not just managing costs, but reducing uncertainty. Our main focus is on negotiating and fixing prices early with both the general contractor and key subcontractors to limit exposure to unexpected increases. At the same time, this uncertainty also impacts financing, making it more expensive and harder to structure. To mitigate this, we are using flexible financing solutions that allow for higher upfront payments, helping us secure better pricing and stronger commitment from partners while shortening the construction timeline. We also maintain direct and transparent communication not only with the general contractor but across the entire subcontractor chain because, in this market, alignment across all parties is critical to keeping the project under control.
Has the success of the Zero Waste culture at Amera Tower led you to implement similar sustainable management standards across your new hospitality projects?
Yes, but with adaptation, not replication. The Zero Waste approach at Amera Tower proved that sustainability works when people are engaged, not forced. In hospitality, the challenge is different because the user is transient. However, the same principle applies: systems must be easy to follow and operationally efficient. For the hotel, we are integrating sustainability from the design phase, especially through energy efficiency and resource management, rather than relying only on operational behaviour.
With major works like the Cluj subway and ring road progressing, how significantly have these projects impacted the valuation of your existing portfolio this year?
Infrastructure development is essential, especially for projects like our hotel, but its impact is less about immediate valuation and more about timing. The real challenge is aligning development with infrastructure delivery; our objective was to position the hotel to benefit from improved connectivity, including the motorway and parts of the ring road. If you develop too early, you suffer from limited accessibility and underperformance. If you wait too long, the market catches up, and new competitors enter, reducing your advantage. So, the impact this year is not reflected in direct valuation increases, but in how we position our projects to capture future demand at the right moment.
Is there an ongoing structural gap in the international three-star hotel segment in Cluj, or is the market nearing saturation?
There is still a structural gap, but it is narrowing. Cluj has strong business and event-driven demand, but the branded midscale segment has been underdeveloped. That is why we entered this space. However, timing is critical—once a few quality international operators enter, the gap closes quickly. We believe there is still room today, but in a few years, the market will become significantly more competitive.
How has your self-storage project in Cluj-Napoca performed since its launch, and what are your growth plans for this segment?
We launched our self-storage project in Cluj-Napoca in January last year with an initial phase of 120 units, which reached full occupancy by August. This confirmed strong local demand for flexible storage solutions. Building on that momentum, we expanded the project with an additional 160 units at the end of 2025, and a further 180 units are scheduled for completion in June this year. The project is developing in phases, allowing us to match supply with real demand while scaling efficiently. It has quickly become a stable and growing segment within our portfolio.
Given your background in the Nervia industrial parks, are there plans to re-enter the logistics sector as infrastructure connectivity improves across Western Romania?
Yes, and we are already actively developing new projects. In Western Romania, we are currently working on two industrial parks: a 13-hectare development in Oradea, strategically located at the motorway entrance, and a 40-hectare project in Arad. These locations are directly aligned with improving infrastructure connectivity, which is a key driver for logistics and industrial demand. Our approach is to position these projects early in areas where infrastructure upgrades will unlock long-term value, rather than reacting once the market is already saturated.
What is your sentiment regarding commercial property investments in regional Romanian cities this year, considering the regional geopolitical challenges and the slower economy?
The current environment demands more discipline, but it also creates real opportunities. Slower growth is filtering out speculative development and forcing better decisions across the market. Regional cities like Cluj continue to benefit from strong fundamentals—an educated workforce, consistent demand, and ongoing infrastructure investments. The key is not to wait for perfect conditions, but to align projects with real demand and manage timing carefully. In our view, this phase will separate developers who react to the market from those who prepare ahead of it. Those who move decisively now will be in a much stronger position when the cycle turns.
