Koramic Real Estate Romania, the local division of Belgian investor Koramic Investments, with a history of over 140 years and assets under management of more that 1 billion Euro, announces total investments of 30 million Euro on the medium term, for two new residential projects in Romania.
“We have two new projects under development: Sunrise Homes, a collection of 82 premium residential units located in Pipera area, and the second phase of Sunset Lake Homes, comprising 18 high-end villas on the shore of Straulesti Lake”, explains Alper Cetinoglu, CEO, Koramic Real Estate Romania, adding: “The potential of Bucharest residential market remains high as almost 20% of the country’s employees reside here, while the medium income is 25% higher than the national average. Full Schengen access doubled by the progress of infrastructure works add on this potential, with numerous opportunities on both medium and long term.”
Koramic Romania is part of Koramic Investments, a Belgian-based family office launched in 1883, which is owned by Christian Dumolin. Koramic Investments, a leading investor and developer, has a focus on office buildings, as well as industrial and residential real estate. Besides Belgium, the investor is also present in Germany, Poland and Romania.
Koramic Investments’ portfolio resulted from a diversity of investments made by Christian Dumolin over a long period of time during his time at Dakpannenfabriek Koramic, Terca, and later Wienerberger and following his exit in 2003. Now, 20 years later, the group has undergone a transformation into a family office with distinct focus and management of its different portfolios. The total asset base grew from 1.1 billion Euro to 1.4 billion Euro over the last four years, mainly due to growth in real estate. Total equity grew from 540 million Euro to almost 700 million Euro over the same period.
In Romania, the investor finalized in 2023 the first phase of Sunset Lake Homes, a boutique residential condominium, made up of three low-rise buildings, on the shore of Straulesti Lake. Starting 2025, the company’s investments are increasing to showcase Koramic’s heritage and experience, with the purpose of providing quality housing and raising the bar on the local market.