January 18 (SeeNews) - Romanian residential real estate developer Impact [BSE:IMP] said that it has obtained the urban planning certificate for the construction of a 690,000 euro ($832,337) kindergarten in the Black Sea port city of Constanta.
Located within the Boreal Plus residential complex, the kindergarten will be developed on an area of 1,350 sq m, Impact Developer & Contractor said in a press release on Friday.
Construction works will start after the developer obtains the building permit, which it expects to happen in June.
To be developed on 43,000 sq m, in the north of Constanta, Boreal Plus will include 18 villas and 9 blocks with 673 premium apartments and 811 parking spaces. Construction works started last year.
Founded in 1991, Impact has completed 16 small and medium-sized projects in Romania, comprising over 4,500 residences and 500,000 sq m of built-up area.
Impact's shares traded 0.53% higher at 1.9 lei ($0.47/0.39 euro) on the Bucharest Stock Exchange as at 1251 on Monday.
($=0.8147 euro)