Art Property, the developer of the €20 million Art City residential complex in Bucharest, is looking to expand its presence in the property management field and appointed a new management team to implement the operational plans.
This year, Art City plans to reach a portfolio of managed residential projects with a value of over €70 million.
On this backdrop, the new CEO and Development Manager of the company is Bogdan Letca. He has over 15 years’ worth of experience in the financial and property sectors. At the same time, Laura Naescu was appointed as Head of Project Management, while Ivan Vicentiu is the new Construction Cost Manager. Andrei Tanase has been appointed Finance Manager and Andreea Csavar will work as urbanist.
”The residential market doubled in volume in less than three years. However, there are very few companies that offer real estate development services through integrated management, such as Art Property,” said the CEO. “For 2022, we intend to add to our portfolio of managed projects three more investments, predominantly residential, with a total value of €50 million,” he added.
The developer’s first project Art City comprises 141 apartments, 500 sqm of commercial spaces and 180 parking spaces. It is located near Petrom City in northern Bucharest. SVN Romania is the real estate consultant and exclusive agent of the project.
