News Article Bucharest Budapest Forty Management Lagoon Park Bucharest Radisson Romania
by Property Forum | Hotel

Romanian developer Forty Management will open this week, in Bucharest, a public access lagoon, part of Lagoon Park Bucharest project, following an investment of €33 million.

The developer said this will be Europe’s first Public Access Lagoon (PAL) project. The company’s portfolio currently includes eight Lagoon City mixed-use projects and 11 PAL projects to be developed in six other countries - Hungary, Czech Republic, Poland, Italy, France and Spain. 

In addition, the developer will expand its portfolio with three luxury hotels comprising 702 rooms in Radisson Lagoon and Central District Hotel - Crest Collection in Bucharest, along with the Swisshotel Hotel in Lagoon City Budapest.

“Lagoon Park is the transformation of a 40,000 sqm former abandoned industrial platform into a green urban oasis, including a 10,000 sqm turquoise lagoon with an average depth of 2 metres, 11,000 sqm of white sandy beaches, 1,150 sun loungers and umbrellas, 2 restaurants, 280 public parking spaces, a Lexus car showroom and countless other facilities, from water sports to our own radio station, LagoonRadio," said Lucian Azoiței, CEO of Forty Management. 

Forty Management is specialised in the development of mixed-use and green urban redevelopment projects.