ADAMA: Revival of the residential market, confirmed by increased sales

The residential developer Adama, company owned by Immofinanz Group, is curently working on the final phase of the Copou Bellevue project, located in Iaşi. There will be built 50 housing units (studios, and apartments with two and three rooms, and also a few minipenthouses). The block of flats is built by Bog'Art as general contractor, a leading company on the Romanian construction sector, while the consulting and management services are provided by Vitalis Consulting. The construction works of the last phase worth 1.7 million euro. It started in November 2013 and will be completed in fall 2014. The project located on Fagului Street in Iaşi also includes three other similar buildings, which have been completed. Copou Bellevue residents will have parking spaces for each apartment and a professional health club equipped with gym and sauna. The total number of apartments sold by Adama in Romania exceeds 1,200 units. Adama is one of the most dynamic developers in the residential area, and, in 2013, the company completed two residential buildings in Bucharest, Edenia Titan II and Evocasa Optima, with a total of 210 apartments. "In the last 18 months, we have witnessed a number of factors indicating a recovery of the housing market in Romania. The real estate transaction number and value is rising and the credit conditions in the national currency are increasing. All these positive factors have contributed to a 25% sales increase for Adama in 2013", said Alina Necula, Head of Marketing & Sales Adama. In the first six months of this year, the developer recorded a 30% increase in sales compared to the same period in 2013. "The 2014 sales indices are in continuous improvement, showing a clear signal that the path we're on in the right one. The second quarter of 2014 has proven one better in sales performance than the previous three months (a natural development), given the seasonality of real estate transactions. We expect the sales this year to exceed the level in 2013, both because of the market dynamics (interaction with potential customers increasing volume) and that we have three new projects just launched on the residential market", said Alina Necula.