Impact Developer & Contractor sold 94% of Greenfield and 62% of Luxuria Phase 1 project

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.