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Bucharest
October 17, 2021
BUSINESS BUSINESS COMPANIES ECONOMY Real Estate

Revenues of almost 70 million lei for Impact Developer & Contractor in the first half of 2021

 Impact Developer & Contractor, Romania’s first real estate developer listed on the Bucharest Stock Exchange, recorded revenues of 68.9 million lei from the sales of homes in the first half of 2021. Compared to the same period of last year, the results increased by 5%. Thus, 94 apartments were sold, of which 80% are units in the Luxuria Residence residential complex, while 20% are units in the Greenfield Băneasa complex, where the completed apartments were almost entirely sold.

As of June 30th 2021, pre-contracts and reservations were concluded for 280 apartments in the projects Greenfield Băneasa (Bucharest), Luxuria Residence (Bucharest), Boreal Plus (Constanța) and Greenfield Copou (Iași), with a total value of 150.39 million lei.

The evolution in the number of sold units is attributed to the lack of a built apartments stock available for sale in Greenfield Băneasa. Within this complex, the company will increase its stock with another 1,305 units, for which it has building permits, while 544 units are already under construction. Due to the high demand for apartments in the neighbourhood embraced by the forest, accelerated by the start of Greenfield Plaza in December 2021, this September Impact will launch the construction and sale of the remaining 761 apartments. The 1,305 units under construction will position Greenfield Băneasa as the largest active construction site of apartments nationwide. As part of the project, another 598 units are in advanced authorization stages.

In Constanța, within the Boreal Plus residential complex, Impact has 341 apartments under construction and another 332 apartments in advanced authorization stages.

Another of Impact’s large residential developments, Greenfield Copou Residence, located in Iași, is in the advanced stages of approval for 1,062 apartments. The company plans to start construction at the end of September for 472 units.

The sales results for the first half of this year were supported by the stock of completed apartments in our main projects in the capital – Luxuria Residence and Greenfield Băneasa. In the upcoming period, we plan to accelerate apartment construction both in Bucharest, Constanța, and Iași, where we rely on a solid land portfolio that will support the development of sustainable projects in the medium and long term, and also in other large cities in the country. The high pre-sales are an indicator that sustainably built apartments are increasingly appreciated by buyers,” said Constantin Sebeșanu, CEO Impact Developer & Contractor.

Sustainability is the basis of Impact Group’s operational policy, which is why all the projects the company has under development are designed in accordance with the EU sustainability standards and the BREEAM Excellent certification criteria, both to provide a high level of housing and construction quality and to protect the environment. Moreover, the buildings of Greenfield Copou, as well as those to be authorized in the future, will comply with the new housing standard, nZEB (Nearly Zero Energy Building), which involves sustainable design, digitalisation, low energy consumption and the use of renewable energy.

To finance its projects, this year the company contracted and used a series of investment loans and, in addition to these, listed on the main market of the BVB a 6.6 million EUR bond issue with a maturity of six years. Going forward, Impact is looking to raise capital by issuing new shares and listed bonds to accelerate national development.

Also in the first half of the year, the first REIT (Real Estate Investment Trust) company, Star Residence Invest, developed by Impact, was listed on the BVB. At the time of listing, Impact held 22.38% of the REIT shares.

In June, Impact increased its share capital to 393,75 million lei by incorporating capital bonuses and part of the reported results. On July 5th, 2021, the share capital of the company consisted of 1,575,000,000 shares with a nominal value of RON 0.25/share, following a 1:4 division ratio. As part of the capital increase operation, the company offered shareholders one free share for every two held.

Impact is a company focused on satisfying its customers, achieving shareholder objectives at the highest standards of corporate governance. This year, Impact obtained a VEKTOR 10 score.

 

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