Developers have hit the capital’s land market

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Developers have hit the capital’s land market – in the last 2 and a half years they have bought land for 30,000 homes. The land market in the Capital has been dominated by developers from the residential segment in the last two and a half years who generated an impressive volume of transactions, acquiring new land for projects aimed at the construction of several tens of thousands of homes, according to a study by to the real estate consulting company Cushman & Wakefield Echinox. Correspondingly In the period 2020 – H1 2022, land transactions for future real estate investments with a total value of 720 million euros in Bucharest were completed, an almost double level compared to the previous five semesters this period (S2 2017 – 2019), a fact that demonstrates the appetite of real estate developers for the realization of new projects even in the context of the health crisis and strong inflationary pressures The most active developers in terms of land acquisition in the last two and a half years were those present in the residential segment, their plans aimed at the construction of more than 30,000 residential units on the purchased lands.

Source: https://www.wall-street.ro/articol/Real-Estate/289999/dezvoltatorii-au-dat-iama-pe-piata-terenurilor-din-capitala-in-ultimii-2-ani-si-jumatate-au-cumparat-terenuri-pentru-30-000-de-locuinte.html

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The main management structure of the company in Romania is the general meeting of associates / shareholders. The constitutive act establishes the rules for convening and adopting decisions and whether the exercise of the vote can be delegated by special mandate by the associate / shareholder who cannot take part in the meeting. In the limited liability company, each shareholder entitles the holder to one vote in the respective meeting. The general meeting of associates has the following main obligations: ✓ to approve the annual financial statement and to establish the distribution of the net profit. ✓ to appoint the administrators and the censors, to revoke / dismiss them and to discharge them, as well as to decide to contract the financial audit, when it is not obligatory, according to the law; ✓ to decide the pursuit of the administrators and censors for the damages caused to the company, designating also the person in charge to exercise it; ✓ to modify the constitutive act.
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The limited liability company is the most common form of company in Romania, being the legal entity that best serves the interests of investors both from the point of view of the reliability of the activity, and from the perspective of its management. The limited liability company is abbreviated "SRL" in Romania and is the equivalent of the American limited liability company Limited Liability Company (abbreviated to LLC) or the German economic structure "Gesellschaft mit beschränkter Haftung" (abbreviated to GmbH), or the structure called "limited" , the structure used in most Latin American states.
The limited liability company is characterized by:
✓ the character intuitu personae, which means that this economic structure is based on the trust between the associates;
✓ the division of the share capital into fractions called shares, which cannot be negotiable securities;
✓ the liability of the associates is limited to their contribution to the share capital.
The limited liability company may also have a single partner, natural or legal person, of Romanian or foreign nationality, who will be the owner of all shares. Instead, the maximum number of associates is 50 people.
At present, the Romanian law no longer conditions the subscription and payment of a certain amount as share capital.
Through registration, the company acquires legal personality, becoming, under the law, a collective subject of law. The conclusion given by the judge is sent, ex officio, to the Official Gazette of Romania for publication at the expense of the company and to the Financial Administration in whose territorial area is the main headquarters of the company for fiscal registration, mentioning the registration number in the Trade Register .

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