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Most expensive housing project: no website, no sales team and 400 empty apartments

Autor: Cristi Moga

10 mai 2011 169

Bucharest's Asmita Gardens, the housing project entailing thelargest private investment, around 120m euros for the building ofseven blocks of almost 800 apartments, has been struggling in thepast two months after the sales team decided to leave.

Meanwhile, the project presentation website, too, has becomeunavailable and a potential client can hardly find anybody to talkto should he or she want to buy an apartment directly from thedevelopers.

"At this moment, the first phase (three blocks i.e.) is 90% soldand filled, so that there are just 20-30 unsold apartments left. Weare trying to reset the project, inclusively the sales team, whichwe want to outsource in the following period, to have a two-yearcollaboration. We're trying to restructure the website as well, toconvey a fresh look, after the project has gone through a bleakperiod. No apartment has been sold in two months," says MihaiDiaconescu, the only domestic representative of ECDC fund, listedon the London Stock Exchange, which owns 50% in the project.

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