The number of real estate news about bankruptcies andinsolvencies has this year topped the one about investments and newprojects. The biggest deals have come to be sealed after theforeclosure of real estate mega-projects, reads BUSINESS CONSTRUCTmagazine.
The recipe of exiting insolvency is the same for all businesses.Finding a new funding source, the so-called "fresh money", can makethe difference between a bankruptcy and a successfulreorganisation.
And as there are few funds now for real estate investments, afterdevelopers have been under the sign of insolvency in the past year,the next stage could be that of bankruptcies.
Colentina is the district with the highest number of frozenprojects in Bucharest. However, Colentina is also the district thatmay present the first case of a successful reorganisation of amajor real estate developer, Copper Beech Capital firm, developingBlue Tower complex.
Banks will no longer rush to turn insolvencies into bankruptcies,but developers also have to find new funding solutions and bringapartment prices at the level where they can find buyers.
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