„There are many opportunities on the real estate development segment, where there aren’t still enough right products on the market and the large players are not involved. The request exists and this is the reason we enter this market, developing our own projects through Forty Management & Investment, an investment fund on the residential and industrial real estate“, says Lucian Azoiţei, one of the owners of Pazo, together with Tudor Bădiţescu and Cosmin Păun.

The first project to be developed is a building with 42 apartments on Alexandru Ioan Cuza Blvd. in Bucharest, near Banu Manta. The land for this residential project, called Central District Cuza 99 and targeting the average market segment, was already purchased, and the shareholders of the company hope to start the works by the end of this year.

The investment in the building will reach nearly EUR 6 million. (source: zf.ro)