“If we have a favorable response from an investor, we may sell the Quartz project, and the transaction could finalize in about three months,” Impact Chairman, Dan Ioan Popp, said. The market value of the project which is to be finalized by year-end amounts to some €7 million.
The company’s strategy for 2009 and 2010 includes the diversification of the enterprise’s portfolio, as more than 30 percent of objectives are to be divided on other market segments, apart from the residential one. This is why the company has already conducted three viability studies to enter the hotel market.
For starters, Impact targets the development of three hotels, which will have, on average, 200 rooms. The market value of these units is estimated at €8 mln each. At present, Impact is in talks with two potential financial partners and hotel operators. “There is a chance to start the development plan this year, if negotiations are finalized. We target the two-three and four-star segment,” said the company official.
Impact forecasts a 47 percent drop in revenue this year, to some €32.13 mln, and a 60 percent decline in gross profit, to €0.97 mln.
