Răzvan Brasla, CEO of Cloud9 Residence, talked to Property Forum about the company’s €90 million investment in a new residential complex in northern Bucharest and the trend of homebuyers who want to be close to the main business hub of the city that comprises a wide range of facilities.
This interview was first published in Property Forum’s annual listing of "The 50 most influential people in Romania’s real estate market”.
What has been the total investment in Cloud9 Residence to date, and how many residential units have you delivered?
To date, we have invested €170 million in the Cloud9 Residence project. The investment in the first phase reached €80 million, with 820 apartments built.
The current high-end project, Cloud9 Evolution, is under construction with an investment of €90 million and includes 612 apartments with one to four rooms and over 700 parking spaces.
Beyond the residential apartments, the project also includes a wide range of amenities that reflect our commitment to integrated urban living, including a hectare of landscaped green areas, pedestrian walkways, a multi-purpose sports field, fitness area, beauty centre, bakery, supermarket, and a commercial area.
How are you funding your investment in Cloud9 Residence?
We operate based on a responsible financial model that has been consistently applied across over 15 years in the development of the residential sector of Alfa Group, of which we are a part.
The down payment made by the client is never used to finance the construction; instead, it is securely held in a separate escrow account until project completion.
Each project is budgeted exclusively through our own equity and/or bank loans, which means the construction schedule is never tied to the sales pace.
This approach is not just a financial strategy; it's a commitment we make to every client: to build responsibly, securely, and independently of market fluctuations.
What has been the demand for the apartments until now?
There is ongoing interest from clients who want to transition from outdated, inefficient housing to sustainable living spaces that reflect current standards. Phase 1 is entirely sold out, and we have seen significant interest in the second phase apartments, which are under construction. In this phase, we have also introduced 2.5-bedroom units with dedicated office space.
These are in response to a growing demand for flexible layouts that support home working and the needs of modern families.
The market is clearly maturing, and customers are more informed, looking for more than just an apartment, but a residential complex with all the facilities where they can feel part of a community.
What is the vision for the facilities that can be accessed by residents in Cloud9 Evolution?
Our goal is to offer a complete urban lifestyle rooted in the "15-minute city" concept, a model that puts essential services, education, retail, wellness, and leisure within a short walking distance from your home. This approach reduces dependence on cars, improves time management, and enhances the overall quality of life.
It's not just about convenience; it's about designing a community that supports a healthier, more sustainable, and balanced way of living.
Cloud9 integrates this vision by offering access to a school and kindergarten, green areas, sports facilities, and commercial areas within the residential compound. This is how we define modern urban living, and that's what today's buyers are increasingly looking for.
How important is the brand of the developer for home buyers nowadays, and how are you positioning your project from this perspective?
Today's buyers are much more informed and demanding; they take time to research who is behind a project, what kind of developments the company has delivered, and how trustworthy the brand really is.
People want to feel confident that they are investing in an apartment built by an experienced, transparent, and trustworthy developer.
Cloud9 is part of Alfa Group's real estate division, with over 30 years of experience building large-scale residential projects and office buildings.Thanks to this solid foundation, we understand what their expectations are: smart design, practical amenities, and the financial stability of their investment.
What is your outlook for residential demand in the northern part of Bucharest? What are some strong attraction points of this location?
Residential demand in the northern part of Bucharest remains strong. This area continues to grow and evolve, transforming into much more than just a business hub. Alongside modern office buildings, it now hosts major shopping centres, international schools, and top-tier medical clinics. People are increasingly looking to live closer to where they work or access essential services. It's about reducing time spent in traffic and gaining more time for family and personal projects.
That's why proximity, connectivity, and access to a full range of amenities make the northern area one of the most attractive residential zones in the city.
What is your approach to resi-for-rent? Is the Bucharest market ready for this kind of product?
Our apartments are designed to meet the needs of both end-users and long-term investors. Their proximity to Bucharest's main office hub makes the project particularly attractive for those looking to invest.
Homes near business centres are always in demand for both short and long-term rentals, and their value is unlikely to depreciate. On the contrary, their strategic location ensures stable appreciation over time, making them a safe investment.
Going forward, is the developer of Cloud9 Residence interested in expanding into other regional cities in Romania, or will it remain committed to Bucharest?
While Bucharest remains the company's main market, Cloud9 Residence is exploring expansion into major regional cities with strong growth potential, focusing on urban centres with increasing residential demand. Our aim is to bring the same high standards of sustainability and develop the concept of an integrated community at a regional level.
