– Interview conducted with Zsolt Tatar, Development Director KÉSZ Romania –
We do not just build square meters, we prepare a framework for the life story of over 200 families.
Since 2001, KÉSZ Group has been present in Romania through KÉSZ Construcții Romania, a company that has been involved over the years in more than 214 projects, covering the main areas of real estate: residential, industrial, commercial and office.
The year 2021 marked the transaction of a plot of land on the shore of Lake Grivița, with an opening of 60 meters to the water, which provides a favorable setting for a residential development in a natural environment, with exceptional sunsets.
Recently, the company’s representatives announced a partnership to start selling apartments of the residential project, which they intend to develop at Strada Coralilor 81 – 87, for which they have already submitted the documentation in order to obtain the building permit.
What is the main motivation to start developing your own residential projects?
Our company has expertise in construction and we have the ambition to always do things better. Using the technological evolution in construction to bring innovation each year, determines us to be among those who set the highest standard of quality. KÉSZ Group is today a reference company on the construction market because it fully respects the brand slogan We build on knowledge.
As a real estate developer, the range of activities is expanding and we want to lay the foundations of a residential complex that will become Home in the true sense of the word for future residents. We have the advantage of a location that fits very well with what we want, because it is not enough to give residents just a roof, it is necessary to create comfort for them, and above all, the right framework to be able to develop a lifestyle at home, both within the complex and in its immediate vicinity.
We believe that in terms of residential developments, luxury should not be the main objective, but quality, sustainability and the concept of the development. The great mass are people who need spacious housing, but more than that, they need to feel safe, in a well-built building, in a small community with controlled access.
We don’t just build square meters, we prepare a framework for the life story of over 200 families. We believe that “Architecture is an art, which meets the most important needs of social life.” – said Étienne-Louis Boullée, French architect (1728 – 1799)
Architecture is not just a way of erecting buildings, it is not just an aesthetic art, but an activity directly related to meeting the important needs of society. Buildings must fulfill both a functional and a social role. In addition, architecture provides opportunities for human interaction and community life.
As a result, we thought of a lifestyle concept for the Corallis residential project, with facilities included and above all, the allocation of spaces in nature, for sports activities, which combine with spending free time by the lake, in an environment with fresh air.
Is it a good time for this type of investment on the real estate residential market?
We observe that the real estate market is stable and despite all predictions, there is a high demand and an increasing volume of real estate transactions. Housing meets the basic needs of shelter and security, and regardless of fluctuations in credit conditions, people continue to buy property, especially as a residence.
The tendency to align with Western standards, which implies a higher level in terms of processes and quality of construction materials, comes with higher costs. However, the increase in prices must be matched with the purchasing power of buyers and financing conditions, and we believe that now is a good time for development, for all the involved parties.
For KÉSZ Romania, it is the right time to start this project, for which we have been intensively preparing for more than 2 and a half years. We have submitted the documentation for the building permit and we have a positive attitude, despite the situation in the capital regarding the obstacles to the development of new projects.
Corallis Apartments is designed to achieve BREEAM Excellent Certification and we do everything we can to create a living environment where caring for the environment is a priority both during the construction process and after the completion of the works, by the lifestyle of the residents and the impact of the technologies used. As a result, we are confident that the authorities appreciate such initiatives and we will be able to start the construction and booking process for Corallis apartments as soon as possible.
How do you appreciate the buyers behavior right now?
Eurostat data reveals that Romania is the leader in the European Union, with a significant increase of 30.7% in construction works in December 2023, compared to December 2022, surpassing Poland (18.9%) and Belgium (10, 7%).
The objectives of the developments are supported by several factors, including the sense of ownership of over 95% of Romanians, the large stock of old blocks and the payment method of real estate investments in recent years, which shows that over 60% of property transactions are made with cash.
As long as there is demand, construction is a field of increased interest. But for a higher standard of living, the developments must be made by experienced companies, which are not only looking for immediate profits, but a long-term business. And for this goal, household quality and recommendations are extremely important factors.
Consumers want more space and comfort, they want a superior lifestyle to what they have been used to. Especially in Bucharest, which is a crowded capital, buyers are interested in homes that can provide them with a high degree of comfort, with included facilities, a beautiful view, but also road accessibility, that saves time in traveling to key points of interest in town.
The sales figures from the first months of 2024, namely the unexpectedly high number of transactions on the Bucharest market, show us that people are aware that prices will continue to rise and that it is not favorable for them to postpone the purchase.
We want them to identify within the Corallis Apartments concept because it brings a special vision that will attract a community of residents interested in a lakeside lifestyle.
The majority dictate trends and thus set the buyers expectations. In recent years, there is a growing interest in sustainable buildings that offer a high level of comfort, using innovative technologies that reduce consumption and environmental pollution. We are glad that even the banks offer preferential credit conditions to buyers who opt for apartments in complexes with a Green policy, because this encourages construction at a high quality level.
What is the novelty brought by the project in the Petrom City area?
The novelty consists in the lifestyle component. More than 200 families will write their life story at Corallis Apartments. Here, those reference memories will live, here the representatives of the new generation will grow up and, with this aspect in mind, we designed everything that Lifestyle by the lake means today.
The policy of the Corallist ensemble involves training, educating and empowering the new generations, who are the adults of tomorrow. The future lies in their hands and it is our duty to provide them with positive role models, worthy of following, in everything related to the living environment, care for nature, for fauna and above all, the responsibility of all technologies that must be made to work in our favor , but not to the detriment of the environment. Any other behavior will work like a boomerang and precisely for this reason, we consider Corallis as a statement for a healthy lifestyle, with the perspective of a better future.
How do you plan to attract future residents?
KÉSZ Romania ensures that the whole concept is special, designed to meet the needs on a long term. The construction will be carried out not only in accordance with the norms imposed by efficiency, namely nZEB, but to the BREEAM Excellent standard, which represents an energy efficiency certification, which brings, in addition to the sustainability component, a series of extremely important advantages for buyers.
The location itself is of interest, a 5-6 minute drive from Piața Presei Libere and Herăstrău Park, offering quick access to the office hub in the north of the capital and to prestigious educational centers. In addition, Corallis creates the perfect environment for residents to adopt healthy habits, bond and build close-knit communities. We have prepared a series of facilities designed to promote a lifestyle within the complex, which we will announce with the announcement of the building permit.
Parents want a location where the child’s development is achieved harmoniously, in a natural environment, which contributes to a healthy lifestyle. Corallis provides them with an environment where residents can enjoy fresh air and children can discover, observe and understand nature. Outdoor activities and the association of time spent in nature with loved ones influence children to love nature with all it has to offer, learning to behave responsibly towards the environment.
The launch offer of the residential project is attractive, which gives us confidence that we will have reservations as soon as we officially present the prices of Corallis apartments. We have all the extras of a modern project, including rooftop apartments, so that residents can enjoy the spectacle of nature from the comfort of their homes.
Where does the living environment rank on the list of buyers’ preferences?
The land on which we want to develop Corallis Apartments is right on the shore of the lake, with an opening of 60 meters to Lake Grivița. It is an important differentiator, especially for millennials, who remember their childhood spent behind gray blocks and now, when they can decide the living context they give their children, they have the opportunity to choose a natural environment.
The north of Bucharest is in the sights of families looking for the right mix for a better standard of living. In addition to the advantages of all the destinations in the north of the capital and good accessibility to them, our complex, located in the North – West, is differentiated by its natural setting – on the shore of the lake, more peace and more fresh air. The people with whom we form a community, with whom we interact often, represent an important factor in the decision of choosing a home for each of us. The Corallis community will be made up of people who understand the need for environmental care and technological solutions aimed at responsible use of energy resources, with greater attention to the impact on the environment.
What type of apartments do you build at Corallis?
Our core target is families, which is why we did not project studios within the complex. Corallis offers an environment where you want to spend a large part of your life, not just a short period in transitional stages.
The Corallis complex includes 2, 3 and 4 rooms, including duplexes, garden apartments, but also apartments with a roof terrace. The terraced orientation of the upper floors offers an unobstructed view of the sunset, the sun reflected on the water of the lake making every twilight a sensational moment.
We build to the highest quality standards, which means that the apartments will be energy efficient, offering extra living comfort through superior thermal and sound insulation, intelligent heating solutions, Smart Home equipment, all of which will generate lower maintenance bills .
If the purchase of the land was an opportunity that we took advantage of, the entire concept of the residential complex is our responsibility to show what is the standard of KÉSZ Romania in terms of real estate developments. Profit is not the main motivating factor, but the ambition to develop projects from A to Z, under the signature and vision of KÉSZ Romania.
What is the key to the partnership with Fortim Trusted Advisors?
We know how to build, we are concerned with the technology segment, innovation and implicitly the facilities component, designed to offer that Lifestyle by the lake, specific to the Corallis residential complex.
However, we do not cover the sales & marketing side, which is why we analyzed the market and decided to sell this project with the help of Fortim Trusted Advisors. They have been with us from the beginning, since we made the land transaction and we had a professional collaboration. All this time, with their help, we analyzed the real estate market, the feasibility and profitability of the project, the trends, but also the purchasing power and the behavior of consumers.
Fortim Trusted Advisors company has expertise in the capital market, property management, research and evaluation, carrying out important transactions in all segments of the real estate market. The team members have notable experience in marketing and sales, and we are convinced that we will have commendable joint results.
Together, we fleshed out the Corallis concept, designed to meet the needs of the target audience, and set the sales strategy to ensure that we would be able to sell most of the apartments before the completion of the project. We will be back soon with news about the building permit and the launch offer, also presenting the facilities of the Corallis residential complex.
