Ozan Tuncer, the new CEO of Cosmopolis, Bucharest’s largest private residential area, spoke to Business Review for the first time and gave an overview of the company’s new expansion plans and the uniqueness of the city with turquoise roofs.
By Aurel Constantin
You have been in Romania for more than 15 years now. How would you describe the development of the local market?
Ozan Tuncer: The Romanian real estate market has evolved enormously over the past 15 years. Clients today are looking for value for money, doing their own research, asking for testimonials from friends, and they prefer large residential projects with a clear track record – and Cosmopolis ticks all the right boxes. It is a city in itself in the north of the capital, with countless facilities, and although it is extremely close to the lively areas of Pipera and Aurel Vlaicu, it is built in such a way as to allow people to base a family, because they are protected from all the hustle and bustle of Bucharest. Customers are no longer satisfied with virtual presentations of residential projects that must be completed one day, one way or another. Those times are over. At the same time, the desire to become an owner, to transform a house into a home, has not disappeared. The pandemic has highlighted the value of living in a community like Cosmopolis. Today, the real estate market in Romania is mature and we are entering a phase where there is an increasingly strong segment with houses purchased as investments to rent, resell or share through Airbnb.
What were the main challenges to make Cosmopolis the largest private neighborhood in Bucharest?
I think you really have the feeling of a project when you are a client. Currently, all of the company’s senior executives live in Cosmopolis. We are one of the 14,000 people who call Cosmopolis home. Last year we felt the need to extend the road infrastructure of the district, so we opened an additional access road to and from Tunari. The community is growing, and so are the children born there, so we have become the only private neighborhood with an on-site medical clinic. Every day brings something new, but it’s what allows us to be better and create a better product for our customers and our neighbors. We have been in the market for 15 years and we plan to expand the project for at least another 15 years.
What are your investment projects for Cosmopolis?
The positive experience of the last two years, when many voices were predicting a drop in sales and changes in customer behavior that would affect the real estate market, made us really optimistic. We have done our homework. 2020, the year of covid, was a very good year, 2021 was even better, and in 2022 we expect a record investment of 30 million euros. This confidence comes from the quality of Cosmopolis and the fact that we are a reference in the real estate sector. Anyone looking for a home in the north visits Cosmopolis. We are accelerating now because we have 14,000 inhabitants and there is also a demand for a commercial area. We are going to expand the linear shopping center into a real retail park, with more than 15,000 square meters for rent. We will also soon have a Lidl store and we will further expand the road infrastructure.
About Ozan Tuncer
He became CEO of Cosmopolis in March 2022. Previously, since 2012, he was Chief Financial Officer of Cosmopolis. Previously, he held the position of CFO at Synergy Construct, a leading general contractor in Romania, from 2009 to 2012. He was also part of the general management of Meteksan Turkey and Meteksan Romania.