Impact Developer & Contractor ended the first quarter of 2020 with 94% contracting for Greenfield project and 62% contracted from the first phase of Luxuria project, with sales revenues of 4.8 million euros, EBITDA of 980 thousand euros and an optimistic outlook for the next two quarters, when expected 25 million Euro of sales revenue.
The estimates are based on the delivery of the apartments from phase 1 of Luxuria, located in the new business pole of Bucharest, which includes a necessary mix of residential and office.
Impact activity in the first 3 months of 2020 was dominated by the development of two residential projects in Bucharest: Greenfield Residence Băneasa and Luxuria Domenii Residence.
As of March 31, 2020, 2,394 apartments were contracted (94%), namely 2,338 sale and purchase contracts and 56 promises and reservations, out of the 2,548 apartments already built, related to the Greenfield project.
Luxuria Domenii Residence first phase is contracted in proportion of 62%
Luxuria Domenii Residence ensemble completed the first phase and started the delivery of the apartments.
As of March 31, 2020, the first phase is contracted in proportion of 62%, which constitutes sale-purchase promises, starting with the signing of sale-purchase contracts from May 15, 2020.
At this moment, 31% of the second phase is reserved (83 apartments out of the 268 available), and the third phase (130 apartments) was recently launched for sale.
In addition to the 50 sale-purchase contracts, the value of which is reflected in revenue recorded in the first quarter of 2020, on 31 March 2020 pre-sale and purchase contracts and reservations were signed for 286 apartments in Greenfield and Luxuria, with a value of of 32.8 thousand Euro.