BUSINESSREAL ESTATE Forty Management is looking to buy land for Lagoon City development in Prague and Warsaw
Forty Management real estate developer is buying the land for developing the mixed-use, green, urban regeneration project, Central District Lagoon City in Warsaw and Prague.
Forty owns the Crystal Lagoons license – which allows the development and the operation of large man-made lagoons, with crystalline water, at low maintenance costs – for Bucharest, Budapest, Warsaw and Prague and is negotiating at this moment new locations in Milan and Lago di Garda.
Lagoon City is the first mixed-use, scalable real estate project that is completely self-sustainable – all the necessary energy is produced within the project – and the first neural carbon project in Eastern Europe and will involve a gross investment of 120-160 million euro per location, differing from one country to another.
“The latest business results validate one more time the healthy growth path of the company, the has always been constant, no matter what the market context was. 2022 is the year when Forty Management reached the third stage of development and becomes from a real estate company, a company that administrates financial investments in the real estate field. For the next period, our priority is to implement the scalable project Central District Lagoon City in Bucharest, following a 120-million-euro investment. The next locations will be situated in Budapest, Warsaw and Prague, being the first real estate developer with Romanian capital to go over the country borders”, says Lucian Azoiței, CEO Forty Management.Read entire article