News Article banks Impact loan residential Romania
by Property Forum | Investment

Romanian Impact Developer & Contractor said it has secured two bank loans worth more than €13 million from Libra Bank to start new investments in the Greenfield residential project, located in northern Bucharest. 

A loan of around €8.6 million will fund the construction of three apartment blocks and a parking lot. The other loan worth €4.7 million will go towards the construction of an office building and a commercial center. 

The loans are backed by the plot of lands for the new development and previous financial agreements inked between Impact and Libra Bank. 

Impact shares were up 1.95% to 3,14 lei on Thursday morning trading on the Bucharest Stock Exchange (BVB). The company’s market capitalization totaled 816 million lei (over €165 million). 

The developer is working on residential projects in Bucharest and Constanța and will start the construction of its first housing complex in Iași this year.