Romanian Newly-Built Housing To Be Adapted To Crisis – Impact Head

Popp recommends the „First Home” program to everybody meeting the conditions because in the next six to 18 months the access to program might become difficult, as banks might impose stricter conditions.

Impact is currently attending a real estate fair with several offers adapted to the current economic context.

Impact Developer & Contractor, established in 1991, developed so far 16 real estate complexes in five cities, including over 2,000 houses and apartments, as well as 25,000 square meters of offices and retail spaces.

The company reported turnover of 29.6 million lei (EUR1=RON4.2579) in the first six months, 2.6-fold lower from RON77.6 million in the similar period a year earlier, and a net profit of RON2 million, 7-fold lower from RON14 million in the first six months of 2008.

Impact has a share capital of RON200 million split up into 200 million shares with a face value of RON1 each.

Popp holds a 28.06% stake in Impact, while the company’s economic manager Carmen Sandulescu owns an 11.55% stake.

On the Bucharest Stock Exchange Friday, at around 1000 GMT, Impact’s shares were traded at RON0.45, so that the company’s market value stood at RON90 million.