At the end of 2007, BCR leasing launched a product for funding construction projects. The projects can be office buildings, industrial buildings, commercial ones or residential complexes, while the first funding, worth 25 million euros, has already been granted for a residential complex.
"At present, we are in talks with another developer of residential complexes, for funding worth 20 million euros," explained Claudiu Stanescu, general manager of BCR Leasing.
BCR leasing owns the real estate project until the loan is fully repaid (the maturity lasting until the construction works are completed).
The interest rate for this product is calculated based on the index of the eurozone monetary market (EURIBOR), to which a 2.5-3% margin is added. Currently, the EURIBOR index stands at 4.1%-4.5% a year, depending on the maturity of the loan.
Stanescu estimates that BCR Leasing's real estate funding will amount to 80 million euros this year, which will account for around 15% of its portfolio. The company has budgeted a value of funded goods worth 500 million euros for this year, up 25% against last year.
"We want to maintain the share held by equipment leasing at 20-25% of funding, to develop the commercial vehicle segment, which will cover 25% of the portfolio, and reduce the share of vehicle leasing to 40%," says the general manager of BCR Leasing.
In 2007, 41.6% of the company's funding went into the acquisition of cars, 25.5% - into commercial vehicles, 20.5% - equipment, and 12.4% -real estate.
Stanescu said the commercial vehicles segment had very high growth potential this year, thanks to the promotional campaign launched by the company in 2007, as well as to the resumption of previously frozen infrastructure projects.
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