Romanian Impact Developer & Contractor says it purchased a new land plot of 25,930 sqm in Iași, in the location where it will kick off a massive residential project with more than 1,000 apartments.
The acquisition was made through Greenfield Copou Residence, an affiliate of Impact Developer & Contractor. The value of the deal was not disclosed, but the affiliate firm got a loan of 5.5 million lei (around €1.1 million) from Impact to buy new plots of land, according to a statement submitted to the Bucharest Stock Exchange (BVB). The cumulative volume of loans that Impact granted to Greenfield Copou Residence totals 33 million lei (around €6.7 million).
Impact’s project in Iași will be developed on 46,000 sqm and will include a community centre for residents. The homes will meet new nearly zero-energy buildings (nZEB) regulations and will be certified as green residential units.
The company has ongoing residential developments in Bucharest and Constanța. Shares in Impact were trading at 0.53 lei on Friday morning on the BVB.
