“In my view, what we are seeing today is more or less what we were seeing in the very beginning since we came to Romania in 2003. We are active in almost every sector, office, industrial, commercial, but clearly, our focus has been residential. Pre-COVID, we have seen that there should be and there is a big demand for housing projects. It was amazing for me when I saw a statistic, that in Bucharest 91% of the people are living within the city centre and only 9% of these people are living outside of the city centre at the time of this research. In other peer cities, instead of 91%/9%, the numbers are 80/20, 70/30, or even 60/40. In Warsaw it’s 57/43.
Obviously, there are various reasons why this is happening, but for me, this was a clear direction where we were seeing that the real estate segment was going. And this is what actually started Amber Gardens, which is a residential project in the Otopeni-Tunari area. It was the first housing project with green homes developed in Romania, and we actually felt the market, and we saw that people are needing an even wider range of housing: not just bigger, more expensive houses, but a clear sense of community.
August 13th, 2021