3.7m-euro business for Westfourth architecture firm

Architecture firm Westfourth last year posted a 3.71 million-euro turnover, double the total recorded in 2005. The company also increased its workforce by over 50% last year, to 25 employees. “Growth was driven by the dynamic results posted by the residential and retail sectors, which is only natural if we consider the trend of the other emerging markets,” Calin Negoescu, technical manager of Westfourth Architecture, told ZF. According to him, the Romanian real estate market will follow the same development and maturation period as other developing states. After the boom of office, retail and residential segments, Negoescu feels Romania can expect major investments in hotel sector, as well as in other similar private projects. The total value of contracts handled by Westfourth last year stood at some 10 million euros, while the construction price for the developments related to those contracts surpassed 300 million euros. Since 1996, Westfourth’s gross profit margin has remained stable, at around 10- 20% of the turnover.