White Mountain Property » News » Real estate projects in the swirl of insolvencies

Real estate projects in the swirl of insolvencies

The number of real estate news about bankruptcies and insolvencies has this year topped the one about investments and new projects. The biggest deals have come to be sealed after the foreclosure of real estate mega-projects, reads BUSINESS CONSTRUCT magazine.
The recipe of exiting insolvency is the same for all businesses. Finding a new funding source, the so-called "fresh money", can make the difference between a bankruptcy and a successful reorganisation.
And as there are few funds now for real estate investments, after developers 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 frozen projects in Bucharest. However, Colentina is also the district that may present the first case of a successful reorganisation of a major real estate developer, Copper Beech Capital firm, developing Blue Tower complex.

Banks will no longer rush to turn insolvencies into bankruptcies, but developers also have to find new funding solutions and bring apartment prices at the level where they can find buyers.


September 10, 2010, 3:53 pm

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