Cordia is preparing to buy new land for residential projects in Bucharest

The developer Cordia, part of the Futureal group, is preparing to sign new land acquisitions for residential projects in Bucharest, but hopes to be able to authorize new projects on the lands in the portfolio as soon as possible.

"We are in the process of acquiring land for at least one more project. We always look at the mid-high area of ​​the market, where we operate, we practically do not look at whether it is in the north of Bucharest or in the south, east, west, we look at a business plan and if the plan falls into the category mid-high, then we buy", explained Mauricio Mesa Gomez, general director of Cordia Romania and Spain.

"We currently have about 2,000 apartments under design, which are on hold. Not much has happened in the last two years. Unfortunately, at the moment we cannot say that there is openness at the level of the General City Hall of Bucharest for a constructive and positive discussion for the development of the city", he added.

But Cordia continues to bet on Bucharest and is looking for us in land, in the context where the local residential market offers good business premises for real estate developers.

"We are in the process of acquiring a plot of land for approximately 500 more apartments, we intend to make it public in the next period. We are still interested in investing in Romania, in Bucharest, we understand that Bucharest is a city that allows, there is still quite a high demand for quality housing, there are still people who want to move from an old apartment to a new one , salaries are increasing, so the basis for a correct development exists", he concluded.

Source: zf.ro