Wallberg Properties eyes Timisoara and Brasov for new investments after completion of EUR 18.6 mln projects

Ovidiu Posirca 15/03/2018 | 11:08

Wallberg Properties, the real estate group controlled by Romanian entrepreneur Valentin Morar, is exploring new investments in Timisoara and Brasov this spring after completing two projects worth more than EUR 18.6 million in Arad and Brasov.

In Arad, the company finished a premium-high end residential project that has a value of more than EUR 12 million. It comprises 107 apartments and an office surface of 1,200 square meters. In the same city, the developed finished a boutique-type residential project that has a value of EUR 1.2 million. Meanwhile, in Brasov, the company completed the first phase of the Sunnyville project, which has a total value of EUR 6 million.

“The main challenge for a developer of our size is the scarce availability of the workforce, which leads to an increase of the labor costs and the price of the apartments. In 2018, we expect a further increase of the pressure of the labor forces and the maintaining of the current conditions for access to finance for real estate development. The positive aspect is that only large projects with sustainable projects will remain on the market,” said Morar.

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