Impact''s land value doubles

The market value of the land held by Impact Bucharest has risen by two to four times the acquisition price over the last few years, a company report shows. Impact owns 80 hectares of land in Bucharest, Constanta, Ploiesti, Oradea and Voluntari. The company officials could not be reached by the time the story was ready for print to provide information on this land. “2005 was a year of accumulations and preparations in view of moving from small and medium projects to major projects involving large plots of land and a high number of housing units,” the report explains. “This is why 2005 was also a time of land buying in Bucharest, Voluntari, Constanta, Ploiesti and Oradea,” the report adds. Impact intends to continue its policy to buy land and increase its “land bank” in 2006. ZF