Lloyd established his own real estate asset management company, Quintet Asset Management. Lloyd believes that the drop in profit margins will lead investors not to come back to Romania. “Romania is not a rich country. Salaries rose at an exaggerated rate in the last three years, while productivity was not up to par,” added Lloyd. He is expecting that over 75 percent of commercial projects announced in the past two years will be cancelled for lack of funds and reduced profitability. “The problem with modern retail centers is that they are swallow up money. International investors are not interested at this time to place €100 million on the Romanian market,” added Lloyd. He said that the value of residential properties dropped over 35 percent and will continue to fall. Lloyd further estimates that the market will stabilize only between the first two quarters of next year, and companies will continue to suffer because of a lack of “business oxygen, which is money.”
