Real estate developer IMPACT Developer & Contractor acquires construction company RCTI
Petre Barac
Posted On July 14, 2022
IMPACT Developer & Contractor, real estate developer listed on the Bucharest Stock Exchange (BVB), acquires the majority shareholding of RCTI Company. IMPACT Developer & Contractor has concluded an agreement with RCTI Company to take over 51 percent of the company’s shares. The completion of the transaction is conditioned by the Competition Council’s approval.
RCTI Company is an important player on the construction market in Romania, the company registering in 2021 approximately 95.3 million RON turnover and a profit of over 3 million RON.
Currently, IMPACT Developer & Contractor and RCTI Company have ongoing general undertaking contracts of over 50 million Euro, for the construction of buildings in Greenfield Baneasa compound, located in the North of Bucharest.
IMPACT Developer & Contractor is one of the largest Romanian real estate developers, with a market presence of over 30 years. The group’s portfolio includes companies that develop large residential projects in major cities in the country and that offer integrated services to their clients: property and facility management services, loan brokerage, interior design, real estate rental and sale services.
