Whether you are an investor, shareholder, current or future resident, here you can find news about Impact Developer & Contractor and all its projects.
Whether you are an investor, shareholder, current or future resident, here you can find news about Impact Developer & Contractor and all its projects.
IMPACT Developer & Contractor obtained from the City Hall of Constanța the urbanism certificate for the construction of a kindergarten within the premium compound Boreal Plus, developed in the north of Constanța. The developer's investment values 690,000 Euros and the construction of the kindergarten aims to increase the quality of life of young families, by facilitating access to educational services in the immediate vicinity of the home.
The project has a kindergarten function integrated into the Boreal Plus ensemble and it will be developed on an area of 1,350 sqm, with a height of GF + 1 and a developed area of 1,400 sqm. The kindergarten will benefit from exterior arrangements and fencing, connections to utilities along road and pedestrian access roads. The works will start after the developer obtains the building permit, estimated for June 2021.
"Every family wants an environment in which they can develop harmoniously and this need motivated us to design the Boreal Plus project focusing on the functionalities necessary for a young community, which contribute to a high quality of life. By integrating a kindergarten into the compound, we want to offer parents extra comfort and safety, but also more time to spend with their children. The main objective is to build a kindergarten at high quality and energy efficiency standards, which will be a real benefit of the Boreal community,” said Sorin Apostol, CEO of Impact Developer & Contractor.
Boreal Plus proposes a western lifestyle to the people living in Constanta, which has already become a reference project on the local residential market. The ensemble was awarded in the prestigious real estate competition International Property Award 2020 - 2021, on the European region, being designated Award Winner, with the title "Residential Development - Romania". The selection criteria considered by the panel of experts were concept, location, architecture and design, innovation, sustainable solutions used, security measures and marketing plan. Developed on a land of 43,000 sqm, in the north of Constanța, Boreal Plus is built to high standards, in accordance with the sustainability policy of Impact Developer & Contractor. The residential compound will include solar panels and efficient waste and wastewater management systems. Construction solutions ensure efficient maintenance costs and achieve superior energy performance, which provides residents with a healthier environment.
Inside the complex, in addition to the kindergarten, there will be multiple facilities, from green spaces arranged on an area of 12,000 square meters, ideal for relaxing in nature, playgrounds, sports field, commercial spaces and a Kaufland hypermarket. Residents can also enjoy excellent connectivity to various attractions of the city, the location of the complex being 15 minutes away from the beach, the center and the A4 motorway and 5 minutes-drive from the A2 motorway.
The entire project will include 18 villas and 9 blocks with 673 premium apartments and 811 parking spaces. The construction works started last year and will be completed in three stages, corresponding to the three phases of development, starting with the end of this year. Boreal Plus homes are equipped with premium finishes, generous terraces, and the apartments on the upper floors offer panoramic views of Lake Siutghiol and the Black Sea.
Currently, Boreal Plus has started the sale of luxury houses in the final stages and has a launch offer valid until March 1, for the apartments whose construction was started last autumn, with prices from 55,782 Euro + VAT.
Impact Developer & Contractor signed two general contractor agreements, worth 18.4 million Euro + VAT, with Electrogrup S.A. for the construction of 406 apartments in phase IV in Greenfield. The works will start in January 2021 and will be completed in the first quarter of 2022.
In January 2021, it will begin the construction works on the New Greenfield, with the aim of implementing an environmentally responsible building concept that meets the highest standards of energy efficiency.
The contracts signed with Electrogrup, member of E-INFRA, aim at building the first 5 blocks, with a total of 406 apartments out of a total of 14 blocks and 1167 apartments. The value of the contracts is 18.4 million Euro + VAT, and the value of the investment amounts to 26.6 million Euro + VAT. The offer includes studio units, 2-room and 3-room apartments, and parking spaces will be available both underground and above-ground.
The common goal of the developer and builders is to build responsibly, using carefully selected materials and effective technical solutions, in line with the sustainability policy adopted by Impact. The New Greenfield will benefit from solar panels, a selective waste collection and management system, as well as efficient lighting, along with wastewater recovery and management infrastructure.
“Impact Developer & Contractor has signed the general contractor agreements for the first stages of the New Greenfield and is properly preparing for the new year. We have started the construction of the Greenfield Plaza community center and soon, will start the works for the Public School and Kindergarten. Because we offer a full range of facilities, we have every reason to expand Greenfield Baneasa and develop the community, which currently has over 6,000 inhabitants. A home in the wooded neighborhood comes with a healthy lifestyle, which includes not only the comfort of the home and overall facilities, but also all the outdoor sports and recreation activities that can be done in the parks of Greenfield and in Pădurea Băneasa ", said Sorin Apostol, CEO Impact Developer & Contractor.
The launch offers for the apartments in New Greenfield, valid within the Loyalty Program, start from 68,236 € + VAT for studio units, 84,161 € + VAT for 2-room apartments and 109,788 € + VAT for 3-room apartments.
The construction of Greenfield Plaza began in November 2020. Thus, the housing concept will become more attractive in terms of new facilities offered: a strip mall, an impressive wellness area equipped with gym, SPAs, tennis court, semi-Olympic indoor pool, outdoor pool and its own office building , in the immediate vicinity of the public transport terminal inaugurated in October, 2020.
Listed on the Bucharest Stock Exchange, Premium category, in December 2020, Impact Developer & Contractor concluded in advance a corporate bond placement mediated by TradeVille, in which the total value of the subscriptions was over EUR 6.5 million. The success of the placement reconfirms the attractiveness of the Impact projects and the strategic vision of the expansion company at national level in the most important urban centers in Romania. Impact Developer & Contractor (symbol IMP) is the only real estate developer in Romania listed, the market capitalization of the company recently exceeding RON 500 million.
Another success of the company in 2020 is the launch of Star Residence Invest, the first REIT (Real Estate Investment Trust) to be listed on the Bucharest Stock Exchange and the sale by private placement of 77.6% of the new company's shares. Star Residence Invest currently has a patrimony consisting of 14 apartments and 26 parking lots, these being in operation based on leases for a period of 5 years, which ensures a gross yield of 11% / year.
Impact Developer & Contractor announces the successful and early termination of the private placement of corporate bonds intermediated by TradeVille. The bonds issued in the private placement held between 11 and 21 December (symbol IMP26E) are denominated in EUR, have a maturity of 6 years and a fixed annual coupon rate set by the issuer of 6.4% payable semi-annually. The value of the subscriptions made during the placement was EUR 6,581,500.
The nominal value of one bond is EUR 500. The minimum subscription in the investment was 50 bonds, the equivalent of EUR 25,000. Most subscriptions were made online through the TradeVille trading platform. The bonds are to be listed on the multilateral trading system operated by the Bucharest Stock Exchange.
"The decision to partner with TradeVille to increase liquidity and implicitly the interest for Impact was a good choice and, as a result, the announced investment was successfully completed. The Capital Market continues to be the central axis of our company's development strategy. ", Sorin Apostol, General Director, Impact Developer & Contractor
"We welcome the success of this new private corporate bond placement that puts TradeVille in the position of having brokered over 50% of corporate stock and bond investments in 2020. We achieve this performance by quickly connecting a large community of investors with the financing needs of entrepreneurs and Romanian companies with the help of a modern and accessible online subscription technology. We are all the more happy that we support obtaining financing from the only real estate developer listed on the Bucharest Stock Exchange that has a longevity similar to that of TradeVille on our capital market.",Ovidiu-George Dumitrescu, Deputy General Manager, TradeVille
Founded in 1991, Impact Developer & Contractor is one of the most important real estate developers in the residential segment in Romania. The company has built over 4,000 residential facilities, totaling 500,000 square meters built and over 13,000 square meters of office and commercial space. The company's current strategy focuses on residential developments with a high level of quality and sustainability, aiming at a target market consisting of segments of middle and high income customers, as well as expanding real estate projects nationwide by targeting some of the most important urban centers from Romania.
Impact Developer & Contractor is the only real estate developer listed on the Bucharest Stock Exchange. Active on our capital market since 1996, Impact Developer & Contractor is currently included in the main segment in the Premium category of the Bucharest Stock Exchange, with a market capitalization of approximately RON 500 million. Recently, the company was awarded with the 5 Star Award Title in the Property Development Category by the International Property Award, Impact's website brilliantly ticking all the judging criteria in the website development section, of interest to investors: real-time stock market data, reports and up-to-date financial data.
TradeVille is a broker with over 25 years of experience on the Romanian capital market and offers retail clients easy and fast access to the Bucharest Stock Exchange and major international stock exchanges. At the same time, TradeVille assists Romanian entrepreneurs and companies in obtaining financing through investments in shares and corporate bonds. In 2020, TradeVille brokered more than 50% of its corporate equity and bond placements for companies in various industries, including Impact Developer & Contractor.
Impact Developer & Contractor won two awards in the Property Development section and one in the Architecture section, in the European region, within the prestigious International Property Awards 2020 - 2021. The prizes obtained are: 5 Star Award - Best Developer Website Romania for the website www.impactsa.ro, Residential Development Romania Award for Boreal Plus Constanța and Architecture Multiple Residence Romania Award for Luxuria Residence. This year, the International Property Awards organized the Red Carpet Gala online, on December 11, 2020.
European Property Award Announcement: EU Development Presentations 2020 - YouTube
Founded over 25 years ago in UK, the International Property Awards is the world's best-known competition dedicated to excellence in real estate development, architecture and interior design in the residential and commercial sectors. The competition takes place in 9 regions covering Africa, Asia-Pacific, Arabia, Canada, the Caribbean, Central and South America, Europe, the United Kingdom and the USA, and the top winners enter the international competition.
The International Property Awards jury is made up of over 100 experts and professionals from various fields of the real estate field, from architects, interior designers or furniture, to publishers of specialized publications, entrepreneurs and consultants. The jury is chaired by Lord Caithness, Lord Best and Lord Waverley, members of the House of Lords of the British Parliament.
Impact's website- www.impactsa.ro has won 5 Star Awards and is a finalist in the European Competition. The judging criteria in the Property Development - website section were: the design and adaptability of the display of different types of devices and resolutions, the bilingual option, interactivity, accessibility, readability, loading speed, ease of navigation, descriptive visual elements, structuring information according to the company's objective, quality and relevance of information, interconnection with other communication platforms.
The website is structured to meet all the expectations of online visitors, both in terms of investments in terms of Impact shares, but also in terms of investments in the residential sector. The content transparently presents all the necessary information, so that all those interested to have access, in real time, to the most important trading data on the Bucharest Stock Exchange, financial reports and press news.
„The awards given to the company represent a recognition of our sustained efforts to raise the quality standard on the real estate market in Romania and to become a reference point for sustainability, quality, innovation and success. We have a portfolio of successful projects, through which we want to have a positive impact on people's lives, emphasizing the quality of housing and sustainability. In a difficult period like the one we are experiencing now, we continue to develop new large-scale projects in Bucharest and other major cities of the country and we are motivated to become even better both due to customer appreciations and due to the international recognitions received. this year", said Gheorghe Iaciu, majority shareholder of Impact Developer & Contractor.
Video Statement: Gheorghe Iaciu: https://youtu.be/NyDYQ4wu6Sc
In the Property Development category, Boreal Plus Compound from Constanța was awarded the title of Residential Development Award - the European region. Started this year, Boreal Plus aims to offer a higher standard of living, through integrated facilities and premium finishes, with the advantage of positioning in the northern part of the city, just 15 minutes from the beach, center and highway. The construction complies with the sustainability standards adopted by Impact within the ensembles developed in the Capital, using carefully selected materials and energy efficient solutions. The estimated delivery time for the entire project is 2024.
The premium compound Luxuria Residence received the Architecture Multiple Residence - Romania Award in the Architecture category, in the European region. Luxuria is an innovative housing concept on the Romanian market, being the first residential project with BREEAM Excellent certification, which certifies the international standards of sustainability and energy efficiency implemented. The project is in the last phase of works and will be fully delivered in the first half of 2021.
The main selection criteria considered for the awards given to Impact residential projects were: concept, location, architecture and design, innovation, sustainable solutions used, security measures and integrated marketing.
Impact Developer & Contractor delivers the second phase of the residential compound Luxuria Residence located in Expoziției area. The new development phase includes 4 high-quality buildings with a total of 268 premium units, an indoor park of 2,500 sqm, a lounge, and a fitness center for the residents.
Thus Luxuria Residence reaches a total of 500 finished apartments, corresponding to the first two stages of development, another 130 units being under construction, in the third phase, which will be delivered in the first half of 2021. The second phase of the project accommodates an indoor park of 2,500 square meters, with Japanese gardens, urban furniture, and an artesian fountain, as part of a landscape project that involves an investment of 500,000 euros. At the same time, the new development stage completes the luxury facilities package with a spacious residents’ lounge, of 200 sqm, destined for various activities and a fitness center equipped with state-of-the-art equipment. The ensemble's facilities are fully functional and free for Luxuria’s community.
The project holds the BREEAM Excellent Certification, which significantly improves the residents’ level of well-being while contributing to the protection of natural resources. The project was from the beginning designed for this certification, therefore from the concept and design stages have been adopted low-energy sustainability strategies, such as intelligent design, the use of low-carbon construction materials, and optimal compartmentalization of spaces. To contribute to the residents’ well-being, the emplacement is based on daylight studies, and the apartments have spacious terraces and large window areas, making it easier for natural light to enter the buildings throughout the day. Indoor air quality is ensured by high-performance ventilation systems, while thermal comfort can be adjusted by each occupant, depending on preferences.
The units from the project’s second phase have a vast typology: from studios to 2-room, 3-room, and 4-room apartments, as well as duplexes and penthouses for a select lifestyle. The apartments have total areas ranging from 75 sqm to 349 sqm, generous heights of 2.8 - 3 meters, and modern design, with luxurious finishes.
"In a year marked by a pandemic and the obstacles generated by this situation, we are happy to complete the second phase of Luxuria Residence, offering our clients the opportunity to spend the winter holidays in their new home. At this moment, we are in the process of handing over the apartments to their owners and we are continuing with a sustained rhythm the construction works for the third phase. At the end of 2020, Luxuria is already the neighborhood of an elitist community, which enjoys the privilege of high-quality life, in a very well ranked area in the northern part of the city", said Sorin Apostol, CEO of Impact Developer & Contractor.
Recently, Luxuria Residence won the 'Best Upscale Residential Project' award given by the real estate publication "THE TIMES - Investing in Property", the selection criteria being the construction quality, energy efficiency, innovation, and the concept of housing with integrated facilities.
Luxuria Residence raises the standard of living by including a wide range of facilities dedicated to residents, for a modern, western lifestyle: 9,650 sqm of green spaces, secured access, playgrounds, a fitness center with state-of-the-art equipment, concierge and maintenance services, business lounge, as well as generous pedestrian space, and exclusively underground car parking. The residential complex will include 9 buildings with a total of 630 premium apartments, from studios to penthouses. The location, between Expoziției Boulevard and Aviator Popișteanu Street, ensures great connectivity with the city's points of interest, such as parks (5 minutes drive to Herastrau Park), hospitals, educational units, restaurants, wellness clubs, and shopping centers.
IMPACT Developer & Contractor announces the completion of the stock of apartments built in the first three phases of the Greenfield Băneasa project. The neighborhood is in the process of expanding with a new phase of development and new facilities that will turn it into the most attractive residential project in Bucharest.
Known as the neighborhood embraced by the forest, Greenfield Băneasa is built to the highest standard in the segment of affordable housing and enjoys a unique location with much better air values compared to the center or other neighborhoods of Bucharest, recording similar values to the air of a mountain town.
For ImpactDeveloper & Contractor, GreenfieldBăneasa is its reference project, developed on a large scale of over 60 hectares, in the long term, between 2007 and 2028. Currently, the 3-phase neighborhood is completed and has a contracting degree of 98.7 %. On November 30, 33 units were available for sale, mostly 4-room apartments, out of the 2,548 completed apartments so far.
"Greenfield is a very appreciated project both due to the quality of the construction, but also to the offered facilities. We will soon run out of apartment stock and focus only on the New Greenfield. Currently, for the 33 units still available in stock, we have advanced discussions, which will materialize in the next period, if there are no new restrictions or unforeseen situations caused by the Covid-19 virus ", says Sorin Apostol, CEO Impact Developer & Contractor.
With a clear goal included in the brand name, Impact aims to transform Greenfield Băneasa into the largest green project in Central and Eastern Europe, for which the company is preparing strategic partnerships to identify and implement green solutions appropriate to a modern lifestyle and in accordance with ecological norms.
Impact's vision is to continuously improve the construction process, which is why the New Greenfield will include solutions specific to a Green project: large-scale use of renewable energy, buildings and systems with high energy efficiency, efficient and sustainable water management, waste management, low-emission transportation solutions, smart home and smart city solutions.
Despite the economic-social context caused by the Covid-19 pandemic and the health crisis, the developer continues to drive the development of the flagship project, convinced of the proven attractiveness of the Greenfield neighborhood. So far, the built area covers 30 ha, and the new stages under construction are carried out on an area of 9 ha. Developed between 2020 and 2022, the community center is spread over a land area of 32,071 sqm, of which 21,496 sqm are allocated to the shopping center that will serve both residents and other residents of Sector 1 and neighborhoods. Greenfield Plaza will include shopping and service area, fitness and SPA center, state school and kindergarten, promenade and recreation areas.
As part of its social responsibility policy in 2020, Impact donated to the City Hall of Bucharest 9,620 square meters of land and the construction project, worth 1.75 million Euros, to build public schools, which provides easy access to educational centres for the children from Greenfield, but also for the other inhabitants from Băneasa area.
An important pillar of the development strategy of IMPACT DEVELOPER & CONTRACTOR remains in the next period the Capital Market. Impact Developer & Contractor has been listed on the Bucharest Stock Exchange since 1996, currently being included in the Main segment in the Premium category with a market capitalization that exceeded RON 400 million at the beginning of December. In 2020, Standard & Poor's reconfirmed Impact's B-stable rating, thus validating IMPACT DEVELOPER & CONTRACTOR's business strategy and long-term development prospects.
In the next period, Impact envisages a new Euro-denominated bond issue, brokered by TradeVille, which will target capital market investors. The value of the tender is EUR 6 million, with the possibility of extending it to EUR 15 million. The bonds will have a maturity of 6 years, and the fixed annual coupon rate, paid semi-annually, will be established in the placement, by the auction method and will be between 5.9% - 6.4%
Impact Developer & Contractor, the only real estate developer in Romania listed on the Bucharest Stock Exchange, obtained the First Place in the Top Companies in Bucharest, in the field of building construction. The award is given by the Chamber of Commerce and Industry of Bucharest and is a recognition of the activity and economic performance of Impact in 2019.
Impact Developer & Contractor remains in first place in the top developers in the capital this year as well. The award confirms the excellent financial results obtained in 2019, generated mainly by sales in the two residential projects in Bucharest - Greenfield Residence Băneasa and Luxuria Residence. In 2019, Impact recorded revenues of 156.6 million lei from sale-purchase contracts, increasing by 54% compared to the previous year's figures. The company reported for the same period, an operating profit of 189,107 lei, EBITDA of 45,475 lei and a net profit of 154,484 lei.
In establishing the rankings, indicators were taken into account such as: net turnover, operating profit, operating profit rate, efficiency of human resources use and efficiency of use of capital employed.
"We are honored to be this year on the first place in the Top made by the Chamber of Commerce and Industry of Bucharest. The very good financial results that formed the basis of this distinction, but also the maintenance of this positive evolution in 2020, confirm once again the financial solidarity of the company, as well as the huge potential for expansion of Greenfield and Luxuria housing concepts, improved in the last 5 years. . Indeed, in the context of a year with many challenges and challenges for the business environment, the financial results recently published by Impact Developer & Contractor for the first 9 months show both maintaining a sustained growth rate and excellent development premises in the immediate future. Maintaining the positive multi-year trend even in the context of significant socio-economic distortions proves the company's ability to accelerate its expansion and move to the next level in business. In this context, Impact is preparing to carry out a private placement of euro-denominated corporate bonds through TradeVille, amounting to EUR 6 million, with the possibility of extending up to EUR 15 million. The bonds will have a maturity of 6 years, and the fixed annual coupon rate, paid semi-annually, will be established in the placement, by the auction method and will be in the range of 5.9% - 6.4%. We are coming out stronger from a difficult year for the economy and society, with a business model tested and validated in perhaps the most difficult economic and social conditions. We are ready to enter a new stage of development ", said Sorin Apostol, CEO of Impact Developer & Contractor.
Impact continues to rise in 2020, in the first 9 months of the year with revenues from the sale of homes amounting to 135,349 million lei, increasing by 35% compared to the same period of 2019, reaching a total of 258 units (apartments , plus parking lots and yard lands related to the package).
The Top Companies in Bucharest is the only ranking of companies in the capital that is subject to the rigors of the law and a complex methodology, implemented uniformly by the chamber system, at national level. According to the top methodology, out of the 134,059 companies with headquarters in the Capital, which submitted the balance for 2019, only 50,133 companies met the eligibility criteria, among which 437 from the construction sector. The awards ceremony took place on November 25, 2020 in the virtual environment, due to the coronavirus pandemic.
Luxuria Residence, the first residential project in the country with BREEAM Excellent certification, won the ‘Best Upscale Residential Project’ award given by the prestigious real estate publication “THE TIMES - Investing in Property”. The award is a recognition of the unique housing concept, with integrated facilities, which Impact Developer & Contractor implements in the luxury compound from Expoziției.
The Times - Investing in Property editorial team awarded Impact for the activity and results obtained in the development of Luxuria Residence, the first project of the company that addresses the premium segment of the residential market. The nomination was made on the basis of information and data collected from the market, analysed and evaluated by an independent jury, consisting of professionals with experience in real estate, along with members of the editorial team The Times - Investing in Property. The evaluation took place in 2019, and the award was to be announced at the Launch and Award Gala, but in the context of the coronavirus pandemic, the award ceremony was postponed.
The selection criteria analysed on the basis of which the award was given were: the construction quality, the energy efficiency, the innovation and the concept of housing with integrated facilities. The results positioned the Impact developer among the 10 companies that inspired and dominated the real estate market in Romania, thus being one of the leaders of the residential market, due to its expertise and innovation in the development of reference projects, such as Luxuria.
Luxuria Residence compound raises the standard of living by including a wide range of facilities dedicated to residents, for a modern, western lifestyle: 9,650 sqm of green spaces, including its own 2,500 sqm park with Japanese gardens and street furniture, secure access, places playground, a fitness centre equipped with state-of-the-art equipment, concierge and maintenance services, 200 sqm business lounge, as well as generous pedestrian space, parking spaces for residents being exclusively underground.
"We are honoured to win this award and to be in the top real estate developers in Romania. It is a recognition of our efforts to always be one step ahead, to implement international standards of sustainability in development and, moreover, to provide to our residents not only with quality housing, but a high lifestyle. Best Upscale is a good attribute for the positioning of the project and we are glad that Luxuria is like a magnet for successful people, forming an elitist community,” said Sorin Apostol, CEO of Impact Developer & Contractor.
Built on a plot of land with an area of 22,500 sqm and located between Expoziției Boulevard and Aviator Popișteanu Street, Luxuria Residence was started in 2018 and it is in the last phase of development, which will be delivered in the first half of 2021. It includes 9 blocks of flats with a total of 630 premium apartments, from studios to penthouses. Nearby points of interest cover the needs of business people and families: parks (5 minutes-drive to Herastrau Park), hospitals, schools, restaurants, clubs and wellness centres, and good connectivity of the location ensures easy access to downtown, business centres and to the airport, which reduces the time spent in traffic.
Due to its position in the new business hub of the capital, the compound is of high interest, both for investors who seek to obtain advantageous investment returns, but also for end customers who are looking for a premium personal home, with a short delivery time. In the first 9 months of this year, Luxuria generated about 40% of Impact's home sales, and the pace of contracting apartments is sustained.
Impact Developer & Contractor closed the first 9 months of 2020 with revenues from the homes sales with a total value of 135,349 million lei, increasing by 35% compared to the similar period of 2019. The evolution is due a 23% increase in sales volume, reaching a total of 258 units traded (apartments, plus parking lots and yard lands related to the package).
Of the 258 homes sold during this period, 156 units were contracted in Greenfield Residence Băneasa and 102 units are luxury apartments in Luxuria Residence compound, in the Expoziției area. The apartments sold totaled a built area of 21,877 sqm. The results recorded exceed the record level of revenues registered last year, when the company had the best results in the last 10 years.
In addition to the registered sale-purchase contracts, on September 30, 2020, pre-sale-purchase contracts and reservations were concluded for another 217 apartments in Greenfield and Luxuria, with a value of 120.65 million lei, estimated to turn into revenues in the period Q4 2020 - 2022.
"Impact Developer & Contractor maintains its positive evolution in a period dominated by uncertainty, reporting increasing sales and operating profit within the developed residential projects. The first 9 months of this year also brought a change in the structure of sales, the premium compound Luxuria increasing its contribution to 40%. Greenfield Residence continues to generate a significant share of revenue, of about 60%, and in the near future we expect to record significant sales in Constanța, in the Boreal Plus project, as we move forward with the construction work. In the next period, we estimate the maintenance of a sustained pace of sales, based on the unique mix of facilities, construction standard and price, brought by each of our projects in the market. Moreover, the increase in the value ceiling for the application of the 5% VAT rate will certainly bring a breath of fresh air to the residential market, especially in large cities, stimulating the purchase of more spacious homes, built to high standards, so that it can meet the needs. comfort and quality of life for young families", said Sorin Apostol, CEO Impact Developer & Contractor.
Impact activity in the first 9 months of 2020 was marked by the development of its main residential projects in Bucharest (Greenfield Residence Băneasa, Luxuria Residence) and the first phase of the Boreal Plus project in Constanța.
Luxuria Residence is a new development concept of Impact, being the first residential project in the country with BREEAM Excellent Certification. The compound proposes a new standard in terms of quality of life and sustainability, due to the energy efficient solutions used, the facilities for residents and the 9,650 sqm allocated to green spaces, including an indoor park of 2,500 sqm.
In the first 9 months of 2020, the construction of 500 apartments was completed, and the next 130 apartments are expected to be delivered in the first half of 2021.
In Greenfield, during the same period, the procedures for obtaining the building permit for the fourth phase, which targets the largest community center dedicated to a residential community, were completed, thus completing the range of facilities available in a developing mini-city. This month, the construction works of Greenfield Plaza were started, the first commercial project of Impact, developed on an area of 21,496 sqm, which will include: a strip mall, an impressive wellness area equipped with gym, SPAs, land tennis court, semi-Olympic pool and indoor and outdoor pool, as well as its own office building.
Also, in the first 9 months of 2020 Impact began the construction of the 18 luxury villas in Boreal Plus complex, which have an estimated delivery time the first half of 2021. Also, the building permit was obtained for the first 2 phases of blocks, which will bring to market 341 apartments, currently being developed the first phase, with 209 apartments. The Boreal Plus project addresses the premium segment of the residential market and offers a western standard of living, through smartly developed buildings and integrated top facilities.
In addition to the development of existing projects, Impact continued its expansion at the national level by acquiring a plot of land in Iași, in the Copou area, with an area of 19,068 square meters. On this land, the developer plans to develop an residential compound based on the Greenfield model, a sustainable project, included in the category of green buildings, with BREEAM certification and which will include low-rise blocks of flats, ample green spaces and services that allow living at modern standards.
Impact Developer & Contractor invests 500,000 euros in the green areas included in Luxuria Residence, its first luxury residential compound located in Expoziției area. The outdoor landscape project, developed by Iristyle, focused on the design of 9,650 sqm of green spaces, of which 2,500 sqm are dedicated to a private park.
Through this landscape project, Luxuria Residence comes with a new standard in terms of quality of life and sustainability, in a capital city facing a deficit of green areas. Approximately 42% of the project’s 22,500 sqm surface is dedicated to green spaces which are designed to provide to its residents with a recreational setting, while contributing to environmental protection. The unique landscape concept is meant to create visual harmony in the condominium regardless of the season, and it accommodates a 2,500 sqm park as well as Japanese gardens.
The completed private park includes stylish urban furniture, with a wonderful artesian fountain as its center-piece, enhancing the exclusiveness of the project while bringing nature closer to residents and encouraging relaxation, networking, and the development of a community with a strong bond.
“Integration of green areas is always playing a central role in the development of our residential projects, having an enormous contribution to the well-being and satisfaction of our customers. At Luxuria Residence, we paid special attention to landscape solutions that would offer to residents the opportunity to enjoy nature, in a city area in full expansion and real estate development. Luxuria Residence offers therefore a modern-minimalist architectural style and a high standard comfort ensured by modern facilities and natural setting, all of them making an important difference in terms of residents’ life quality”, said Sorin Apostol, CEO of Impact Developer & Contractor.
According to Vital Signs statistics, Bucharest has a green space index of 9.86 sqm/inhabitant, which is 12 times lower than Vienna (120 sqm/inhabitant). The benefits of nature on physical and mental health are well known, and recent studies have concluded that it takes at least 2 hours spent in nature each week to generate an improvement in the quality of life and physical and mental health.
“The landscape design of the Luxuria gardens was developed based on the concept of <balance and harmony>, the park’s structure being created for the direct joy of all residents. Thus, we developed a stylish park, ideal for both networking and solitary moments. In this central park, we introduced deciduous and coniferous trees, ornamental and flowering shrubs and flowers, the entire dendrological and floricultural park counting over 150 species. These are all perennials plants that remain green throughout the year, creating also balance and harmony. In addition, the project allowed us the extravagance of using big, mature trees and also a spectacular fountain. The project is a true statement of excellence, with high potential to surprise and delight the residents”, said engineer Elena Arion, the landscaper of the project.
Developed in line with Impact’s sustainability policy, Luxuria Residence is the first residential project in the country with BREEAM Excellent certification that will offer to the residents:
Located between Expoziției Boulevard and Aviator Popișteanu Street, the Luxuria Residence compound offers a western living context in an area of Bucharest in full development, through multiple facilities: exclusively underground car parking, private park, fitness center, lounge, 24/7 receptions, playgrounds, secured access, human security, and video surveillance. Nearby points of interest cover the needs of business-people, but also those of families: parks (5 minutes drive to Herastrau Park), hospitals, educational units, restaurants, clubs, and wellness centers.
Impact Developer & Contractor started the construction works at the fourth phase of development of the Greenfield Băneasa residential compound. This will include Impact's first commercial project, Greenfield Plaza, with 7,258 sqm of space for trade and services and 1,184 sqm of office spaces. The entire project has a value of 12 million Euros and it will be built with RCTI COMPANY S.R.L. with which Impact signed a contract worth 7.5 million Euros.
The authorized phase targets the largest community center dedicated to a residential community and completes a budding mini-city. Sustainably designed and environmentally friendly, Greenfield Plaza, developed on an area of 21,496 square meters, includes 2 buildings with a height of Ug + Gf + 1F and GF + 2F + thF, over 200 parking spaces and it will be completed in 2022. The entire project includes: a strip mall, an impressive wellness area with gym, SPAs, tennis court, semi-Olympic pool and indoor and outdoor pool and its own building of office.
Within the shopping center, there will be available for rent, spaces totaling 6,730 sqm. The aim is to make available to the public the following facilities: Mega Image supermarket, pharmacy, restaurant, pub, bakery and premium services: dry cleaning, hairdresser, beauty salon, playground, currency exchange, bank, travel agency. The total investment of the company amounts to 12 million Euros and does not pursue a direct commercial return, but increasing the life quality of the residents.
The biggest attraction will be the fitness area and SPA, which will include: fitness room, an indoor and an outdoor pool, with terrace and sunbathing area, children's pool, semi-Olympic pool, whirlpool, massage room , squash courts, bar, spinning room and tennis court with lawn. The three pools will benefit from hot water, heated with renewable solutions, in agreement with the company's direction to implement green solutions for a smart city. All functions in the Greenfield Community Center are aimed at both residents and the general public and will become an attraction for shopping, relaxation and leisure.
Also within the Greenfield community center are the two public educational institutions, developed in a public-private partnership with the municipality of Sector 1, with a considerable capacity: 780 children in high school and 150 children in kindergarten. The land of 9,620 sqm, on which the construction works and the architectural project will start, worth 1.75 million Euros have already been donated to the municipality, and the City Hall of Sector 1 will start the construction works by the end of 2020, the deadline in operation is about to be communicated by the City Hall.
Another important point within the community center is the most modern STB terminal, from where buses will leave, the route of which will connect the Greenfield neighborhood with the Press Square and the central area of the capital. Currently, the STB 204 line already works, connecting the neighborhood with the Străulești terminal. The land necessary for the STB terminal in Greenfield, with an area of 1,400 sq m, is made available by Impact, with a loan agreement for an indefinite period and free of charge, to STB (Bucharest Transport Company). The value of the donation and of the entire project carried out by Impact amounts to 750,000 Euros.
Newly developed constructions will use modern design and construction solutions, which allow cost efficiency and high energy performance.
“Experience recommends us as a reliable, visionary developer, interested in creating communities for which we build to high quality standards, and the new phase of development in Greenfield comes with the challenge of integrating commercial and residential real estate into a unique project, which will set new benchmarks for housing and wellbeing. Our ambition is to develop a mini-city, responsibly and sustainably planned, which integrates all the functionalities necessary to a young community: living spaces, schooling for children, work, relaxation and entertainment, commercial and service spaces”, said Sorin Apostol, CEO of Impact Developer & Contractor.
Developed on an area of 60 hectares of land, embraced by 900 hectares of forest, the Greenfield residential compound in Băneasa offers the advantages of a secluded location, close to nature, such as clean air and low noise, complete with the necessary facilities for a living quality urban. The first 3 phases with over 2,500 apartments have been delivered by 2019, and phases 4 and 5 are to be developed by the end of 2028, the neighborhood will total more than 7,000 homes at the end of the works. Today, more than 6,000 nature and outdoor enthusiasts live in Greenfield, making up the largest urban community in Sector 1.
Impact Developer & Contractor, Romanian real estate developer listed on the Bucharest Stock Exchange, enters the real estate market in Iași through the acquisition of a 19,068 sqm land plot. The transaction marks a major step in the developer’s strategy for implementing Greenfield and LUXURIA living standards in large cities throughout the country.
The land is located in Copou area, known as one of the most attractive residential areas in Iași and also a historical landmark of the city, an area that is very well connected to the main points of interest in Iași. On this land plot, the developer will replicate the Greenfield model, its successful residential compound from Bucharest. Thus, the project will be a sustainable one, included in the green category, with BREEAM certification and it will include buildings of low height regime, large green areas, services that offer a modern standard of living.
Similar to Greenfield project in Bucharest, the compound that Impact will develop in Copou area of Iași will host a new residential community with a unique living experience, in harmony with nature, completed by the proximity of tourist attractions and relaxation areas such as the Botanical Garden and the Copou Park.
The transaction follows the developer’s launch, this year, of the construction works for Boreal Plus compound in Constanța, as part of the expansion strategy in the large cities of the country.
`An important part of Impact Developer & Contractor group’s strategy is to expand and promote Greenfield and Luxuria Residence living standards, both in Bucharest and in the large cities of the country. We are delighted to enter the real estate market in Iași by purchasing a plot in one of the best areas of the city, where we will implementone of our successful projects! This acquisition is our first expansion step in Iași, and in the coming years we will expand and consolidate our presence in Iași`, said Sorin Apostol, CEO of Impact Developer & Contractor.
This year, Impact Developer & Contractor continued the construction and sales activities in its main projects based in Bucharest and in the country. In Greenfield Residence, the company will start the development of the largest community center in a residential compound, that will complete the range of facilities offered to residents. On the premium segment, in Luxuria Residence, project that has the BREEAM Excellent Certification, the developer delivered the first phase (232 apartments), held the reception for the second phase (268 apartments) and is continuing the works for the third phase (130 apartments). In Constanța, Impact has begun the construction of Boreal Plus, which will include 18 villas and a total of 673 apartments, and will benefit from a Kaufland store developed in its immediate vicinity.
Luxuria Residence, the first luxury project developed by Impact Developer & Contractor in Expoziţiei area, held the reception with the authorities for the second development phase and thus becomes the most advanced residential project in this area. The reception was organized for 4 high-quality buildings, with a total of 268 units.
The units in the second phase of the project have a vast typology: from studios to 2-room, 3-room, or 4-room apartments, as well as duplexes and penthouses adapted to a select lifestyle. The apartments have total areas ranging from 75 sqm to 349 sqm, generous heights of 2.8 - 3 meters, and modern design, with luxurious finishes. By June 30th, 2020, 31% of the second phase units were precontracted.
The second development stage of the compound integrates generous green spaces, gardens, and a lounge dedicated to residents for various activities, such as networking, remote work, meetings, or reading and relaxation.
Luxuria Residence was designed to fit the energy class A category and is currently the only residential project in the country that holds the BREEAM Excellent Certification, bringing residents long-term benefits.
“IMPACT Developer & Contractor has entered the luxury residential market with a project that raises the standards for quality and energy efficiency. BREEAM Excellent is a benchmark qualification and we are pleased that the first to experience this new living concept will be Luxuria’s residents. These days we took another step towards completing the second phase of the project and because the whole ensemble already looks like a western scenery, with sumptuous buildings and unique landscaping, we received much appreciation both from investors and final customers who want to live in Luxuria Residence”, said Sorin Apostol, CEO of Impact Developer & Contractor.
The entire project, which will include 630 apartments, is developed on a 22,500 sqm land plot, out of which 42% (9,650 sqm) is dedicated to green spaces. The overall housing area is complemented by a variety of facilities that anticipate residents’ needs, offering them a high living standard: secured access in the complex, human security, video surveillance, 24/7 receptions, exclusively underground parking, private park, fitness center, lounge and playgrounds. The location of the project, between Expoziției Boulevard and Aviator Popișteanu Street, ensures great connectivity with the city's centers of interest, such as parks (5 minutes drive to Herastrau Park), hospitals, educational units, restaurants, wellness clubs, and shopping centers.
Impact Developer & Contractor, the only real estate developer in Romania listed on the stock exchange, announces the obtaining of the building permit for 341 apartments, 450 sqm of commercial spaces and 427 parking spaces in Boreal Plus residential compound in Constanța.
Located in one of the best rated residential areas of Constanța, in Palazu Mare, Boreal Plus residential compound includes a total of 691 homes, of which 673 apartments, in 9 blocks, and 18 luxury villas.
The 5 blocks, with a height regime of GF +8F+Technical floor and GF+11F+technical floor, will include 341 studio apartments, with 2 and 3 rooms, with an estimated delivery time in the first part of 2022. Boreal Plus passes into the second phase of development of the project, after in the first part of the year, the begining of the construction works of the 18 villas in the project began, representing the first phase of development.
Boreal Plus will be built in four stages, on a plot of 64,440 square meters, and the location benefits from easy access to the beach and transport infrastructure, as well as a kindergarten, Kaufland hypermarket, playground for children, with sports field and commercial spaces. The neighborhood is located near DN2A, only 15 minutes away from the center of Constanta, but also from the A4 motorway.
"Developed in line with the sustainability policy pursued by Impact Developer & Contractor in all national projects, Boreal Plus will have a selective waste collection and management system, energy efficient lighting along with specialized infrastructure for recovery and wastewater management. The location in Constanţa, where Impact started the new investment, has an increased development potential considering that there is no large residential compound of superior quality in the area. The area also records higher rental prices compared to the rest of the market in Constanta. The average cost of rent for a one-room apartment is 250 euros in this area, compared to the market average of 180 euros. For two- and three-room apartments, the rent varies between 350 and 400 euros, compared to the city average of 260 and 350 euros, respectively. An investment in a rental home in this area would generate a return of at least 6.5%, a result superior to other investment instruments available on the Romanian financial market, especially considering that there is a launch offer for the first phase of sales", said Sorin Apostol, CEO Impact Developer & Contractor.
Boreal Plus apartments are well sized and compartmentalized, have panoramic views to Lake Siutghiol, which adds elegance and comfort for an exclusive life near the Romanian coast. The complex will also have 826 parking spaces, of which 289 will be arranged in a multi-storey car park, with a height of Ug + Gf + 4F.
At the design level, Boreal Plus is created to integrate harmoniously with the environment with the help of exterior finishes and materials that create a minimalist ecosystem with straight, clean lines, without excessive details.
IMPACT Developer & Contractor S.A. (IMP) ended the first half of 2020 with 133 homes sold and 260 pre-contracted homes, totaling 212 million lei. Of the stock of 487 apartments available in S1, 255 in Greenfield and 232 in Luxuria (March 2020), 60% were contracted. To these are added 102 pre-contracted apartments in the new development phases.
The first semester of 2020 focused on the construction of buildings and the preparation of documentation for future constructions in the representative neighborhoods developed by the company in Bucharest: Greenfield Băneasa and Luxuria Residence, respectively Constanța - Boreal Plus.
In H1 2020, 133 sale-purchase contracts were registered, which brought revenues of 65.808 million lei, to which are added 260 pre-contracts of sale, purchase and reservations totaling 146.28 million lei. The 133 contracts mean 88 units sold in Greenfield (7,650 sqm) and 45 in Luxuria (3,347 sqm), including apartments, parking lots and yard lands related to the package. The apartments sold in the first semester of 2020 totaled a built area of 10,998 sqm.
"In a difficult time, with two months of lockdown and a crisis caused by the Covid-19 virus, Impact Developer & Contractor continued its construction and sales activities, with a focus on trading completed apartments, available in both Greenfield, as well as in Luxuria. Despite this crisis, Impact was on a positive trend, registering in the first half a profit of 8.7 million Lei, and an EBITDA of 17.6 million Lei. We have confidence in the projects we develop and in their degree of attractiveness, which will raise the level of profitability in the second half of the year in accordance with the objectives assumed by investors and shareholders. The housing acquisition behavior has acquired new valences, especially in the context of the COVID crisis, but also of the New House program, which encourages buyers to move towards more spacious, better quality housing, thus raising the living standards of Romanians. More time spent at home with Government-imposed measures due to the pandemic crisis has mobilized people to move to larger homes and ensembles where the living context includes gardens, parks or forests, as in the case of Greenfield. Working from home created the need for an office room in the apartment and became a motivating factor in the purchase, and the fact that Luxuria thought of this option from the project stage, is a plus for those who work from home, "said Sorin Apostol , CEO Impact Developer & Contractor.
For the second semester, Impact envisages: for Luxuria, the completion of the second phase (268 apartments) and the continuation of the works in the third phase (130 apartments); obtaining construction permits, starting works and financing the fourth phase of Greenfield and the first phase of development in Boreal Plus Constanța.
The fourth development phase of Greenfield Residence includes the Teilor Ensemble (1,900 apartments) and brings a premiere for IMPACT: the first commercial project with a recreation center - Greenfield Plaza, offering a mix that will complete the range of facilities offered within the community.
Greenfield Plaza includes a Strip Mall, SPA area, gym, office area. The new Greenfield phases will be designed to include Smart City facilities and buildings that respect the design principles of green buildings, minimize energy consumption and use energy from renewable sources, leading to a reduction in carbon footprint.
IMPACT ON THE CAPITAL MARKET
In April 2020, following the EGMS decision of April 28, 2020, it was approved to reduce the company's share capital from LEI 274,443,532, with the amount of LEI 9,443,532, by reducing the number of shares, from 274,443,532 shares to 265,000,000 shares, as a result of the cancellation of a number of 9,443,532 treasury shares, acquired by the Company. The reduction of the share capital took place and was registered in July 2020.
With a constant interest in raising the standard of living of Greenfield residents, Impact has taken the first steps so that all children of the residents can benefit from educational centers near the house. In order to build a state school and a kindergarten, Impact donated the land and the project necessary for their construction to the Bucharest City Hall, both amounting to 1.75 million Euros.
Impact Developer & Contractor, the only Romanian real estate company listed on the Stock Exchange, pays dividends to shareholders, starting with the 17th of August, 2020. Payment is made automatically for investors registered in the RoClear System or upon request, by bank transfer based on a previous request, or in cash, at the BRD Group Societe Generale counters.
The shareholders of Impact Developer & Contractor approved in the General Meeting of April 28 of this year the distribution of dividends amounting to 10.7 million lei from the profit of 154.14 million lei obtained during 2019. Thus, a gross dividend is quoted at 0.04 lei per share, which ensures investors a return of 2.73%.
The shareholders who can benefit from dividends are those who are registered in the issuer's shareholders' register, on 27.07.2020. Shareholders who are customers of a Participant in the clearing-settlement and registry system of the Central Depository may collect their dividends through it.
In the case of shareholders who do not have an account opened with a participant of the RoClear system, the payment is made as follows:
• by bank transfer, based on requests sent by shareholders;
• in cash, at the bank counters of BRD Group Societe Generale throughout the country.
„Impact Developer & Contractor respects the payment procedures of the shares and ensures a transparent communication towards all its shareholders. 29 years of existence on the real estate market and the experience of 24 years of listing on the Bucharest Stock Exchange are relevant indicators, which give confidence to shareholders and those interested in investing in Impact shares. We are developing large-scale projects, which validate the excellence of the company and they are reference points in its evaluation, from an investment point of view. Greenfield Residence and soon Greenfield Plaza, the first commercial project of Impact, the premium ensemble Luxuria Residence and Boreal Plus from Constanța are projects that we are focusing on at the moment, proving the experience accumulated over time. We implement innovative, sustainable concepts that meet exactly the expectations that the market has. Sustainability is Impact's operating policy, and correlating it with the 3 P's of sustainability (planet, population, profit) that have a strong impact on business is a necessary practice, because the planet, people and profit are essential assets for Impact,” said Sorin Apostol, CEO of Impact Developer & Contractor.
Impact Developer & Contractor is listed on the Bucharest Stock Exchange, with the IMP stock symbol, since 1996. The main shareholder of the company is Gheorghe Iaciu, who holds 58% of the shares, followed by Adrian Andrici, with 15% of the shares.
The residents of District 1 Bucharest will benefit from new educational institutions near Băneasa Forest, an area with clean air, extremely necessary for children. A state school and kindergarten will be built in Greenfield, the forested neighborhood, after the General Council of Bucharest accepted the proposal to donate a 9620 sqm plot of land, submitted by Impact Developer & Contractor. The value of the donation, which also includes the project for the construction of the school and kindergarten, amounts to 1.75 million euros, according to the evaluation report.
In the meeting that took place on Wednesday, July 15, 2020, the General Council of Bucharest adopted a project aimed at responding positively to the offer of donation of land located in Bucharest, Aleea Teișani District 1, for the construction of a school and a public kindergarten in the Greenfield neighborhood. According to the information contained in the document, the construction works, which are the responsibility of the Council, have a starting date of 31 December 2020.
„The offer of donation with tasks authenticated under no. 456/2020 of SC Impact Developer & Constructor SA having as object the land located in Aleea Teişani no. 300-324, no. 394-410, Mogoşoaia Forest Road no. 15-31, no. 33-41, plots A 468/37, 38, 39, 40/1, 40/2, 40/3, 40/4, 40/5 and 40/6, sector 1 (currently Aleea Teişani no. 312-324, sector 1) with an area of 9,620 sqm. (...) After concluding the donation deed in authentic form, the building-land (...) passes into the administration of the Local Council of Sector 1 in order to include in the public domain of the Municipality of Bucharest and the construction of a school and a kindergarten, together with all the necessary annexes and utilities ”, is mentioned in the adopted draft decision.
The project responds to the need for schools and kindergartens in District 1, an area in continuous development on the residential segment, with a continuous increase in the number of preschoolers and students. The two educational centers are an integral part of the largest community center built in a residential complex in Bucharest, developed on 32,071 sqm, which will include: strip mall, kindergarten and state school, STB terminal, minibus station.
The school and kindergarten will have direct access to a public road and will be modern educational spaces, where approximately 1,000 children from the northern part of Bucharest will be able to learn, as follows:
- the kindergarten will be able to receive 150 children in 15 classrooms, a multifunctional room, a medical office + isolator, a food office, administrative spaces, technical spaces and a covered playground;
- in school they will be able to learn two series of 390 children in 13 classrooms, 5 laboratories (chemistry, biology, physics, computer science, foreign languages), two workshops (music and arts), 1 after-school room, 1 library , a gym + locker rooms, a multifunctional foyer, a speech therapy office, a pedagogical counseling office, a medical office + isolator, a buffet space + food office, a school shop, a covered inner courtyard, an outdoor sports field free, a partially covered recreation yard, a maintenance workshop, bicycle parking platforms, various technical and administrative spaces.
"Over time, we have supported a healthy lifestyle and had multiple initiatives to educate the general public, the Greenfield community and educate children. Plogging and planting events, birdwatching sessions and the construction of bird houses in Băneasa Forest prove the involvement in non-formal education and social responsibility. And because the time has come to do more for education, with the support and acceptance of the City Hall and the Local Council of District 1, we managed to donate this land on which will be built kindergarten and school, which will benefit all those who live in north, especially in the vicinity of the Greenfield neighborhood. It is an important step for us and we hope that the initiative will be appreciated and, why not, to inspire others, because educational institutions closer to home contribute to a high standard of quality of life," said Sorin Apostol, CEO to Impact Developer & Contractor.
The advantages that the two educational centers bring are: reduced travel time to school and kindergarten for nearby residents, reduction of pollution, the possibility of prolonged sleep in the morning and a plus for children, in terms of fresh air.
IMPACT DEVELOPER & CONTRACTOR submitted to the MUNICIPALITY OF BUCHAREST the donation offer of 9,620 sqm for the construction of a school and a public kindergarten. It is about a land located in the north of Bucharest. Currently, in that area of District 1 live approximately 1,500 children of school and preschool age, the nearest educational unit being over 4 km away. This situation generates traffic congestion, pollution and a low level of safety for students who have to travel long distances to school.
The approach of IMPACT Developer & Contractor represents a step towards normalcy and an invitation for all major real estate developers in the country to evolve by investing in education. This year, the company has allocated over 1 million euros (excluding VAT) for the expansion of public utilities that will serve both the school and kindergarten, as well as other areas in the vicinity of the Greenfield neighborhood. IMPACT Developer & Contractor plans to build additional access roads nearby. Today, they are in the final phase of approving the PUZ documentation, and once completed, they will be transferred free of charge to the public domain.
According to the approved urban plan, near the school and kindergarten will be built on 2 lands provided free of charge to the municipality, an STB terminal, various other public functions and an ISU subunit to serve the entire northern part of the capital. For the execution of these functions and infrastructure elements, IMPACT Developer & Contractor has allocated a budget of over 3 million euros (excluding VAT).
Located in the area delimited by Băneasa Forest, Tunari Forest and Teișani Alley, Greenfield is the flagship project of Impact Developer & Contractor, and the plans of the district development company include buildings with low CO2 footprint, green spaces much larger than legal regulations, as well as smart city and wellness solutions. In this regard, Impact Developer & Contractor will subsidize the construction of a community center in the neighborhood with commercial, service and sports functions. Thus, at the same time as satisfying a real need of the inhabitants of the complex, the traffic generated by the residents to the city will be significantly reduced. The entire development strategy of the Greenfield neighborhood is designed to be part of a set of public functions of general interest, for the benefit of the entire northern area of Bucharest. Below, we present the steps that the company followed to start this project and details on its realization.
At the end of April, by notarial deed, at the request of the City Hall of District 1 of Bucharest and the General City Hall of Bucharest, Impact Developer & Contractor submitted to the General City Hall of Bucharest and the General Council of Bucharest the donation offer for the urban land of 9,620 sqm, located in Bucharest, Teișani Alley, District 1, adjacent to the Greenfield neighborhood. That land is registered in the Land Book no. 277156 of Bucharest, District 1. According to the zonal urban plan ZUP- Teișani Alley - Pădurea Neagră Street, no. 56-64, the land area that is the object of the donation has the function of UTR Education.
The Local Council of District 1 voted in favor of the request to CGMB, on 28.05.2020, for the reception in administration for the construction of a school and a public kindergarten on this land, together with all the necessary annexes and utilities, according to the draft annexed to the donation act and all technical documentation for the building permit, also donated free of charge. In this sense, there is already an agreement of principle acceptance from the Administration of Pre-University Education Units and Public Sanitary Units Sector 1. The start of works also has a precise deadline, no later than 31.12.2020.
Together with the project for the construction of the school and kindergarten, the value of the donation amounts to approximately 1.75 million euro, according to the evaluation report.
The school and kindergarten will have direct access to a public road and will be modern educational spaces, where approximately 1,000 children from the northern part of Bucharest will be able to learn, as follows:
- the kindergarten will be able to receive 150 children in 15 classrooms, it will have a multifunctional room, a medical office + isolator, a food office, administrative spaces, technical spaces and a covered playground;
- in school there will be able to learn two series of 390 children in 13 classrooms, 5 laboratories (chemistry, biology, physics, computer science, foreign languages), two workshops (music and arts), 1 after-school room, 1 library , a gym + locker rooms, a multifunctional foyer, a speech therapy office, a pedagogical counseling office, a medical office + isolator, a buffet space + food office, a school shop, a covered inner courtyard, an outdoor sports field free, a partially covered recreation yard, a maintenance workshop, bicycle parking platforms, various technical and administrative spaces.
IMPACT Developer & Contractor S.A. (IMP) ended the first quarter of 2020 with 94% contracting for Greenfield project and 62% contracted from the first phase of Luxuria project, with sales revenues of 4.8 million euros, EBITDA of 980 thousand euros and an optimistic outlook for the next two quarters, when expected 25 million Euro of sales revenue. The estimates are based on the delivery of the apartments from phase 1 of Luxuria, located in the new business pole of Bucharest, which includes a necessary mix of residential and office.
Impact activity in the first 3 months of 2020 was dominated by the development of two residential projects in Bucharest: Greenfield Residence Băneasa and Luxuria Domenii Residence. As of March 31, 2020, 2,394 apartments were contracted (94%), namely 2,338 sale and purchase contracts and 56 promises and reservations, out of the 2,548 apartments already built, related to the Greenfield project. The reported sales figures reinforce Greenfield's high level of interest in the market and confirm the viability of Impact projects.
Luxuria Domenii Residence ensemble completed the first phase and started the delivery of the apartments. As of March 31, 2020, the first phase is contracted in proportion of 62%, which constitutes sale-purchase promises, starting with the signing of sale-purchase contracts from May 15, 2020. At this moment, 31% of the second phase is reserved (83 apartments out of the 268 available), and the third phase (130 apartments) was recently launched for sale. The positioning in the northern part of the capital, the high degree of construction quality and the facilities offered are relevant strengths in the current context, in which the comfort and safety of housing become a priority.
In addition to the 50 sale-purchase contracts, the value of which is reflected in revenue recorded in the first quarter of 2020, on 31 March 2020 pre-sale and purchase contracts and reservations were signed for 286 apartments in Greenfield and Luxuria, with a value of of 32.8 thousand Euro.
"2020 has started promisingly and the current situation creates an additional motivation to maintain at the same level the prestige of Impact projects on the real estate market and the relevance among consumers, through differentiators that influence the decision to purchase a home. Currently, in Bucharest we are developing a new product in Greenfield, Panoramic Apartments, a home wellbeing concept for new members of a community with a focus on a healthy lifestyle. On the premium segment, at Luxuria Domenii Residence, we started handing over the first apartments in phase I, now having turnkey apartments available for sale, with the possibility to move in short time. We continue the finishing works for the second phase and the construction works for the third phase. In Constanța, we started the sales within the Boreal Plus project for the 18 villas and the blocks, totaling 675 apartments, which are in the authorization phase ", said Sorin Apostol, CEO of Impact Developer & Contractor Group.
By the end of the year, Impact also intends to complete phase II (268 apartments) of Luxuria project, to advance the works for phase III (130 apartments), to obtain building permits and to start the works for Greenfield IV and Boreal Plus Constanța. Another objective is the prospecting of financing solutions for phase III Luxuria, Greenfield IV and Boreal Plus Constanța.
About Impact Developer & Contractor S.A.
Founded in 1991, Impact Developer & Contractor SA is the first 100% private real estate company in the post-communist period. In the 29 years of activity, the company has developed 16 residential complexes in Bucharest and in the country, totaling over 450,000 square meters built and over 4,000 units delivered.
Impact Developer & Contractor is listed on the Bucharest Stock Exchange since 1996. Starting with 2006, its shares are listed in category I of BVB, and since January 2015 Impact shares are traded in Premium category, according to the new segmentation of BVB.
Bucharest, 06.05.2020: Bergamot Developments S.R.L., a company owned by Impact Developer & Contractor, announces the completion of the first phase of Luxuria Domenii Residence project, which will take place in the second half of May. Classified in the premium category, the residential complex is positioned in the new business hub of the capital, where over 20,000 corporators will work, an aspect that maintains a high degree of interest for nearby homes.
The construction works of the first phase, called A2, started in March 2018 and were recently completed, with the reception made together with the state institutions and the tabulation of the buildings, and the apartments will be handed over starting with May 15, 2020.
The residential compound was designed from the beginning to be included in energy class A and in the category of green buildings, receiving Breeam Excellent Certification, which is an alignment to the international standards of residential buildings. The first phase totals 232 apartments and includes studios, studios, 2, 3 and 4-room apartments and 4- and 5-room penthouses.
As of December 31, 2019, the reservation rate was 55% of the first phase apartments, in the top of preferences being the 2-room apartments. Clients also showed interest in studios, as well as for 3-room apartments, the ranking being followed by 4-room apartments and duplexes.
"Despite the distortions currently created by the spread of Covid-19, the real estate market in Romania maintains a healthy foundation, based on both a sustainable demand and a mature industry sector, supported by developers with solid financial resources. Therefore, we believe that in the next period, the residential real estate segment will return relatively quickly to normal, especially in the new construction segment. That is why, at present, we have adopted a series of measures to protect the employees against the spread of the new virus, which allowed us to continue the execution of the construction work plan, so that we can meet the delivery deadline for the first phase of the project. Given the announced plans of the authorities, for the gradual lifting of isolation measures, we are confident that we will be able to meet the deadlines for the following 2 phases: 268 apartments with delivery in December 2020, and 130 apartments in April, respectively 2021. At this moment, we are working in parallel on all three phases of the project, at a pace that ensures the achievement of these objectives ", said Sorin Apostol, CEO of Impact Developer & Contractor.
In the context of a new perspective on lifestyle and how to relate to one's home, Luxuria Domenii Residence satisfies many of the modern citizen needs, who wants to make a change for the better and reach the next level, through the quality of his life.
Luxuria offers a western living context in a good area of Bucharest, multiple facilities as a whole: exclusively underground parking, theme park, fitness centers, lounge, 24/7 receptions, children playgrounds, secure access, human security and video surveillance. The nearby points of interest cover the needs of business people, but also of families: parks (5 minutes drive to Herăstrău Park), hospitals, educational units, restaurants and clubs and wellness centers. Connectivity to key points means easy access to the city center, business centers and to the airport, which reduces traffic time.