Business Forum • 5 September, 2024 at 10:08 AM
Redport, one of the most active players in the real estate industry, is launching Redport Contractor - the group's general contracting (GC) company - to manage all stages of a real estate project internally. The main benefits of a general contracting company are related to the control over costs, execution times, and the quality of the work.
"We set up this new company because we wanted to have all the services and teams within the group that contribute to the development of our projects. Redport Contractor's objectives will aim to deliver projects on schedule and to the quality promised to our clients so that, from this point, we limit our exposure to external entities," states Cosmin Savu-Cristescu - CEO - Redport.
In addition to project companies for real estate developments, Redport owns several companies with know-how specific to the real estate industry. With the establishment of Redport Contractor, the group has completed the process of internalizing the critical aspects necessary for the success of the projects it develops.
"Experience shows us that the optimal solution is to have all the necessary resources internally to develop any Redport real estate project correctly, efficiently, and within parameters. With Redport Contractor, we have moved the entire package of technical services inside the group, and we manage turnkey projects," explains Bogdan Gubandru - Chief Operational Officer - Redport.
The first project in Redport Contractor's portfolio is the third phase of The Level Apartments, worth over €8 million, managed entirely from a general contractor position. In the coming years, Redport Contractor will accommodate the general contracting in the Infinity Nord project and in the next phase of The Level Apartments, developments where the value of construction works is expected to exceed €160 million.
"Redport thus becomes a fully independent player in terms of activity, with integrated services within the group - from economic feasibility studies and technical audit to the execution of works and final documentation," concludes Savu-Cristescu.
Redport has in its portfolio the residential complexes The Level Apartments, developed in four phases, and Infinity Nord, developed in two phases, located in the North area of the Capital. These are two iconic projects in this part of Bucharest, with a total investment estimated at over €240 million.
The Redport Group, with over RON 100 million in business recorded in 2023, was founded in 2016 by Cosmin Savu-Cristescu and represented a group of companies specialized in construction, investment, development, and management of real estate projects. The group's portfolio includes two landmark projects in Bucharest, The Level Apartments and Infinity Nord - Redport, owned by the businessman Dan Șucu.
The first two of four phases of The Level Apartments have already been delivered to the community. Construction of the third phase is due to begin this fall, and the final phase is scheduled for development in early 2025. The Level Apartments project includes 600 residential units.
Infinity North, the second and one of the most significant urban regeneration projects in the Capital from Redport's portfolio—developed in four phases and totaling 1,250 residential units—will be launched at the end of this year. The project includes dedicated retail, education, medical, sports, and leisure spaces.