About Us
Art Property Development is revolutionizing modern living through a unique fusion of unwavering technical proficiency and a deep commitment to artistic expression. Our foundation is built on Bog’Art’s rich legacy, focusing on enduring living spaces with a unique passion for aesthetics, attention to detail, and dedication to the artistic essence of life, transcending conventional construction boundaries.
Our approach is focused on creating harmonious spaces that promote a symbiotic interaction between architecture and environment, aiming to exceed end-user expectations and create personalized retreats that combine functionality and beauty.
Our pursuit of excellence involves being mindful of our environmental responsibilities and adopting sustainable methods. To reduce our environmental impact and contribute to a greener future, we prioritize the use of high-quality, eco-friendly products. Our commitment to reconciling current objectives with future needs is evident in every aspect of our decision-making throughout the building process.
Art Property Development is a unique property development company that focuses on quality, aesthetics, and responsible environmental practices. We are not just builders, but craftsmen and future custodians, creating spaces that reflect the artistry of building, setting a new legacy for modern apartments.
Our
team
BOGDAN DOICESCU
Fondator
Bogdan Doicescu
Bogdan Doicescu has lifelong experience in the Bog’Art group of companies as a family business executive. He is a graduate of Columbia University with a Major in Financial Economics & Business Management and also has a Masters in Real Estate Development from New York University. He is a chartered surveyor with RICS and also serves as Board Member in the Association of Real Estate Investors.
Since 2007, Bogdan started investing in real estate with boutique residential developments in Bucharest’s city center, and by 2019 the foundation for what is today Art Property Development began to take shape.
His vision was shared with two other founding partners, both well-established in the Romanian real estate market with an impressive land bank and development track-record, respectively the most transactions of new residential sales in the country.
Art Property Development originated from Bogdan’s passion for modern art and unique design combined with real-estate deal-making through sound financial fundamentals and unwavering respect for the built environment. The concept was secured with the solid track-record of the founding partners and is currently fueled by the cross-disciplinary competences of dedicated specialists on the team. Bogdan is proud to have set this ambitious vision in motion and he currently oversees the evolution of Art Property Development as it aims to bring shape and life to functional, beautiful buildings that will stand the test of time.
BOGDAN LETCĂ
CEO & Development Manager
Bogdan Letcă
With over 15 years of experience in the financial-banking and real-estate fields in Romania, Bogdan has accumulated vast business knowledge starting from sales activity, project coordination, reorganization of activities as well as real estate development, expanding skills in the managerial area.
Currently serving as the CEO & Development Manager at Art Property Development in Bucharest, Romania, Bogdan has been in this role since May 2021, demonstrating his leadership and strategic development skills. Among the representative projects that Bogdan coordinates, we can mention the construction of Art Property City.
Previously, he held the positions of Managing Director and Administrator in various local companies, subsidiaries of large pan-European multinational corporations. During this time, he distinguished himself by establishing new benchmarks and standards in the field, as well as by the constant and consistent optimization of the economic parameters of the companies he led. His responsibilities ranged from people management to developing restructuring solutions and business strategies, including formulating acquisition strategies, negotiating contracts with suppliers, and coordinating after-sales activities to meet customer needs. Additionally, he played a key role in driving value creation and reducing organizational complexity by spearheading new IT enhancements and streamlining processes.
With a career spanning various industries and roles, Bogdan Letcă has demonstrated a consistent commitment to driving organizational success through strategic planning, effective management, and a hands-on approach to problem-solving.
ANDREI TĂNASE
Senior Finance Manager
Andrei Tănase
Andrei Tănase is an expert finance professional with a diverse background of over 10 years in both banking and real estate sectors. Currently serving as the Senior Finance Manager at Art Property Development in Bucharest, Romania, he has played an important role in the ongoing success of the Art City residential project.
Before assuming his current position at Art City, Andrei demonstrated his leadership skills as the Director of Operations at a leading Romanian provider of mobility services, that delivers B2B and B2C professional private transportation. In this role, he took charge of the company's operational aspects, navigating the challenges posed by the Covid-19 crisis. His strategic mindset and collaboration with the leadership team resulted in the construction of a hybrid strategy to ensure resilience and prioritize future investments.
Prior to September 2020, for almost 6 years, Andrei played important roles within the Commercial and Compliance teams at Lloyds Banking Group, based in London, United Kingdom. In this capacity, he managed critical responsibilities related to IT contracts and the end-to-end commercial management process of the company's infrastructure. His skills encompassed project management, supplier management, risk management, contract management, business analysis, tracked service performance, and conducted audits to ensure compliance with required policies and standards.
ROXANA TIUTIU
Urbanist, Development Specialist
Roxana Truțiu
Roxana Tiutiu is an experienced urban architect with 10 years rich background in construction and architecture. Currently, she holds the position of Urbanist – Development Specialist at Art Property , a commitment she undertook in January 2023, following a dedicated tenure of six years and nine months at Bog'Art Residential in Bucharest.
In her extended expertise at Art Property, Roxana has been a driving force in conducting Due Diligence analyses, providing valuable insights for determining land and property coordinates. Her skills extend to crafting development scenarios, envisioning future spatial configurations, and preparing project design briefs for our future projects.
Actively engaged in the development process, Roxana ensures the seamless coordination of project design themes. She actively participates in meetings with project designers, maintaining clear and effective communication throughout the development phases.
VICENȚIU IVAN
Project Manager
Vicențiu Ivan
With a career spanning over a decade, Vicențiu has demonstrated his prowess in project management, cost control, and contract negotiation in the construction and real-estate industry in Romania.
Currently spearheading initiatives as Project Manager at Art Property Development, he is responsible for overseeing the design, permitting, cost and contract management aspects of development projects, ensuring efficient execution and successful project delivery.
Before joining Art Property Development team, Vicențiu held important positions of Site Manager, Cost Manager, Procurement and Planning Engineer at renowned real estate developers, investors and general contractors in Romania, where he played crucial roles in managing construction works, costs and contracts, supplier management, quality control, coordinating subcontractors and maintenance teams, contributing to the success of all projects in which he has been involved.
With a wealth of experience in project management and engineering, Vicențiu continues to make significant contributions to the success of Art Property Development and the broader real estate and development industry in Romania.
ANDREEA CSAVAR
Urbanist, Development Specialist
Andreea Csavar
With over 8 years of experience in the construction field, Andreea has dedicated her career to continuous development and improvement of skills in this domain. A graduate in Urban Planning from the University of Architecture and Urbanism "Ion Mincu," Andreea began her professional journey at Bog’Art in the Technical department, where she gained a profound understanding of technical and operational processes.
Transitioning to the bidding and sales department in 2016 brought a new dimension to her career, enriching her skills and knowledge regarding customer needs and market requirements in the construction industry. She worked closely with major clients on complex projects, managing bidding processes and evaluating projects from both technical and financial perspectives, being recognized for her ability to integrate technical knowledge with a deep understanding of clients' needs and objectives.
In 2021, Andreea joined the Art Property Development team as an Urbanist, demonstrating dedication and passion for the real estate domain. In this role, she continued her professional development by actively participating in the development of urban plans and documentation for analyzed lands, aiming to obtain building permits and certificates. Additionally, she focuses on improving and developing Business Case models, closely collaborating with teams of architects and designers to ensure detailed economic representation of project estimates.
Our Services
Technical Due Diligence Reports
Due diligence is one of the most important steps in real estate development because it allows critical aspects with potential impact to be identified early on.
Art Property Development team provides assistance with the following:
- Aggregating ownership documents and preliminary review of property title before legal due diligence
- Verification of onsite conditions, including on-premise utility services, site access and transit options
- Preliminary analysis of environmental reports, special permitting conditions where applicable
- Evaluate existing and potential urbanistic parameters and zoning conditions
- Proposal of viable development opportunities
Business Plan Development
A project's business plan must take into account the analysis of the technical-economic-financial parameters given current market conditions and future predictions.
Art Property Development is committed to realistic timetables, verified budgets and conservative sales expectations to establish a sound business plan with valid fundamental assumptions.
Our services include:
- Identify profitable development opportunities
- Preparing preliminary and periodically updated construction budgets
- Creating reasonable and feasible development timelines, taking into account zoning, permitting, construction and sales
- Conducting financial analysis on various scenarios, including financing conditions, equity contributions and rhythm of sales
Project Financing and Accounting
To ensure a successful result, the financial commitment of a real estate transaction or project may include the participation of investors and lenders. Budgets must be constantly monitored and evaluated to achieve the desired financial results.
Our services include:
- Intermediate and negotiate bank or non-bank finance arrangements
- Seek and evaluate commercial financing proposals
- Coordinating loan term negotiations with lenders
- Providing budget and performance reports to lenders and partners
- Oversee and review accounting tasks, including payroll, taxes and compliance
- Project cost control
- Conducting financial audits to verify contract compliance
Construction Management
Construction management services offer ground-level support for owners who lack expertise or choose not to staff locally for individual project management, ensuring successful outcomes.
Our construction management services include:
- Coordinating the process of tendering and assigning works/selection of specialized contractors - Architects, Engineers, and General Contractors
- Design coordination and permitting management in order to ensure that all necessary permits and approvals are obtained before construction can begin
- Project planning, site supervision and active monitoring of construction progress
- Snaging, testing and commissioning
- Securing a successful project close-out
- Post construction process management: financial and cadastral registration, warranty, preventive maintenance
Site Value Improvement
Our permanent focus is to maximize the value of the underlying asset given various market conditions. We achieve this by constantly monitoring market trends and adjusting our strategies accordingly.
We can assist our partners with:
- Highest-and-best use analysis, including optimal functions(mixed-use residential, commercial), optimal unit mix (number of units, 1/2 Bedroom ratio)
- Obtaining new project approvals
- Review and implement LEED, BREEAM or other green certification or any other environmentally sustainable solutions
- Analyzing present operating asset performance to find potential optimization of costs or value-added opportunities for reconversion, refurbishment or redevelopment
- Develop and oversee marketing, sales and leasing strategies
- Tendering and monitoring of property and facility management services
Awards &
certifications
ART CITY AWARDED THE RESIDENTIAL NEW CONCEPT OF 2022 AT IMOBILIARE.RO AWARDS 2023
ART CITY RESIDENTIAL PROJECT OBTAINES BREEAM EXCELLENT CERTIFICATION
Our Partners
