Romanian developer Forty Management expects a turnover of 397 million lei (€80 million) and a net profit of 188 million lei (€38 million) in 2022, while total investments in residential projects across Bucharest will reach 155 million(€31.3 million).
The company evaluated last year at 497 million lei (€100.2 million), intends to extend to other countries in the region, by acquiring the licence for Crystal Lagoons in Warsaw, Prague, and Budapest.
“This year we will finalize and deliver Central District Viitorului 134 and start the construction works for Central District Lagoon City, our scalable urban regeneration mixed-use project. Therefore, we expect a significant increase in revenues generated by sales and rents related to these projects,” said Ana Hogea, Executive Director of Forty Management.
The company reported a consolidated turnover worth 109.4 million lei (€22.1 million), for the first nine months of 2021, a 76.3% increase compared to the similar period of 2020 and a net profit in value of 36 million lei (€7.2 million), up 56% year-on-year.
Forty Management’s portfolio includes 333 apartments in completed projects, 600 apartments under construction, a 300 rooms 5 star+ hotel, 9,000 sqm office as well as commercial spaces.
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