The buildings will have five stories, plus ground floor, according to a company’s statement on the Bucharest Stock Exchange.
In June, Impact stockholders approved the issuance of 135 million lei non-guarantees bonds with at least five-year maturity. They will have an annual fixed interest rate between 5.5% and 7%, while the funds will mainly finance the construction of Greenfield Plaza and the development of the first stage of Barbu Vacarescu project.
So far in 2015, Impact sold 160 apartments mainly in Bucharest-based Greenfield project, more than it sold during the entire 2014. It targets annual sales of 800 to 1,000 apartments.
In 2014, Impact sold 102 houses and apartments covering more than 10,000 sqm, mainly in residential compound Greenfield in capital Bucharest (70 apartments) and residential compound Europa in Oradea (29 housing units).
Impact is majority owned by businessman Gheorghe Iaciu.
In 2015, Impact forecasts earnings before interest, taxes, depreciation and amortization (EBITDA) of RON33 million (nearly EUR7.5 million), from operating losses of RON14.3 million in 2014.
Impact had a net profit of 4.1 million lei (EUR923,000) in 2014, from a loss of RON42.46 million in 2013, due to gains from asset reassessment.
(English version by Manuela Panescu)