Adama has become the foreign investor with the biggest number offinalised homes in Romania in the last few years, but when theytalk about projects outside Bucharest, the developers start tosigh.
Real estate developer Adama, founded five years ago by DavidFlusberg and two other Israeli businessmen, sold 192 homes lastyear and a further 30 since the beginning of the year in the 12projects developed both in Bucharest and across Romania, so it hascome to sell nearly 1,000 apartments on the Romanian market, out ofthe over 1,500 developed.
Adama, a company, which is in the process of being sold toAustrian investment fund Immofinanz, does not have any otherproject under construction at present, with the company stillhaving around 150 apartments for sale in Bucharest and around 400in projects across Romania, in Ploieşti, Braşov, Bacău andIaşi.
"We are not building based on five-year plans, like in communisttimes, when if you were told you had to make a certain number of TVsets, you made them, it didn't matter if there were any buyers ornot. We still have apartments to sell. In Bucharest there arethousands of empty apartments, made by people who did not thinkthings through, who were working for the five-year plan," saysAsher Lax, sales manager and vice-president of Adama.
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