Impact negotiates sale of Construdava

The Board of Directors of the real estate development company Impact Bucharest decided to sell the Construdava office building. Located close to the Pipera Lake, in the Voluntari commune near Bucharest, the class A office building is about 75% completed, and is to be ready in July this year, according to data provided by the company. The Board of Directors of Impact decided to start negotiations for the offers that have been selected. Contacted by ZF, Dan Ioan Popp, chairman of Impact, did not wish to give any information on the value of the offers received thus far. “All I can tell you right now is that this project is due to be completed soon, with some 26% of the project”s value still to be invested,” stated Popp. The project is estimated at some 19 million euros; the company contracted a 9.6 million euro loan in 2005 in order to complete it. ZF