Impact to begin a €700 mln real estate project in Bucharest

The complex will be built on some 585,000 square meters, of which 90 percent belongs to Impact, located near Baneasa forest, in the Teisani – Drumul Padurea Pustnicu area. The beneficiaries have already obtained environment permits, and work will begin in August, to be finalized in 2014. According to quoted sources, the investment will be financed in a proportion of 40 percent through bank loans, while the difference will come from own sources and advances by clients.

At the beginning of this year, Impact announced investments worth €2.7 billion in two residential projects, one in Cluj, the other in Bucharest, whose construction will begin this year. Total income of the company last year amounted to €135.7 mln, while net profit was €71.3 mln. Impact’s stock exchange value is €163.3 mln.