”The projects we manage succeeded in generating interest for the buyers in the last period”, has declared Andreea Cionca-Anghelof, coordinator associate within Transilvania Insolvency House.

Residential projects managed by CITR doubled their sales since their entry in insolvency procedure.

The residential projects Alia Apartments in Bucharest has registered during insolvency sales of approx. EUR 11.2 million + VAT. The complex sold approx. 62% of its apartments after the insolvency was declared, for an average price of EUR 228,500 per unit.

The sales rate increased five times for the project Mao Life Residence in Cluj compared to the period before this procedure. If the project only sold 44 apartments in 4 years, currently, after only 8 months since the procedure started, 38 apartments were already sold.

In relation to rents, the projects in CITR’s portfolio also registered a positive trend this year. Both residential and offices projects have a higher occupancy rate.

Therefore, the occupancy rate of the office project Swan Office & Technology Park Pipera increased to almost 40%, 4 companies rented new spaces since the takeover of the project’s management.

On residential renting segment, Alia Apartments project is the best quoted in CTIR’s portfolio, with 10 units rented currently, for an average price of EUR 2,200 / month.


CITR is the leader of the insolvency market in Romania. The company has managed the insolvency procedure of more than 650 commercial companies. (source: dailybusiness.ro)