Forty Management Signs Exclusive License with Crystal Lagoons® in Romania

Romania’s leading real estate developer Forty Management, owned by entrepreneur Lucian Azoiței, known for offering “affordable luxury”, has signed with multinational water innovation company, Crystal Lagoons® to use its patented technology for a lagoon anchoring a large mixed-use real estate project in Bucharest.

Known as Central District Lagoon City, the new development’s main amenity is a pure turquoise lagoon surrounded by idyllic beaches of over 20,000 sqm, exclusively for its inhabitants, and sets a precedent in Romania and Eastern Europe.

The incorporation of a crystalline lagoon powered by Crystal Lagoons technology in a residential project creates a new standard in Romania’s real estate, transforming the classic urban landscape into a heavenly destination.

Central District Lagoon City is Romania’s first such amenity, and will allow residents to enjoy beach life year-round and practice water sports, such as sailing or kayaking, among others; or simply relax on the white sand beaches and enjoy an idyllic view of the water on their doorstep and without having to travel beyond their own backyard.

Crystal Lagoons technology, patented in 190 countries, is unique in the world and allows the development of large bodies of water to be maintained at low maintenance costs.

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Columbia, the capital of South Carolina, a city without a coastline, will now have an idyllic beach life thanks to the first project signed by Crystal Lagoons in this state. This new operation adds another chapter to the success story in the United States of this multinational innovation company founded by the scientist Fernando Fischmann. The US is the company’s main market worldwide, with more than 275 projects at different development and negotiation stages.

The project will feature a 4.8-acre crystalline lagoon surrounded by white sandy beaches. It will have a private area reserved for residences and tourists staying at a luxury hotel, confirming the impact on the hospitality industry of Crystal Lagoons. On the other hand, it will have a public access area, accessible to all through ticketed entry, which will have all the features of the Public Access Lagoons® model, also known as PAL® developments. For this reason, it will be a hybrid complex equipped with extensive commercial, entertainment, and sports infrastructure, as well as terraces, restaurants, parks, a wedding peninsula, a children’s area, and other amenities.

The project, called Oak Hills, forms part of an agreement with Contender Development, Broadstreet, Inc., and Blue Lagoon Development LLC. to develop four complexes in the state.

“The Crystal Lagoons® at Oak Hills will provide exceptional, safe and enjoyable recreational spaces for all ages. We’re excited to create a destination that will not only enhance the quality of life for residents but also become a focal point for the entire region”, says Joseph Baldassarra, president of Broadstreet.

“PAL® developments and Crystal Lagoons® technology have become very attractive projects worldwide, so we are confident that this complex will be a success”, explains Ivan Manzur, Senior VP of Sales, Crystal Lagoons US Corp.

PAL® projects are environmentally friendly as they reduce the carbon footprint of tourism and transportation by more than 40%, reducing travel to coastal destinations by around 50%. In addition, they also offer event venues with unparalleled scenic beauty.

Crystal Lagoons is revolutionizing the global shopping mall industry with its disruptive technology, which integrates leisure, retail, and idyllic beach life in one place. Its new project in ColombiaKristal Mall, is the largest shopping mall in the Colombian Caribbean and the country’s first Shopping Resort. It blends entertainment and shopping around a monumental 5.3-acre crystalline lagoon with turquoise waters as its centerpiece. This innovative project addresses the global challenge of reinventing malls, transforming them into multifunctional destinations that attract a new generation of visitors.

Located in Cartagena de Indias, Kristal Mall spans 296 hectares and features a leasable area of 110,000 m². Powered by Crystal Lagoons in association with AED and Arquitectura & Concreto, this cutting-edge complex will offer a wide range of amenities, including high-end stores, restaurants, terraces, a cinema, an amusement park, a 150-room hotel, offices, apartments, healthcare centers, and an event venue designed for weddings, concerts, and large-scale shows.

Its main attraction will be the crystalline lagoon, developed under the Public Access Lagoons® model, also known as PAL® developments. The lagoon will bring the tropical beach lifestyle to this tourist city, which historically lacked high-quality beaches. Visitors can enjoy various aquatic activities, such as swimming, paddleboarding, kayaking, windsurfing, and more, redefining the region’s commercial and entertainment landscape.

PAL® developments, accessible to the public through a ticketed entry, stand out for their versatility. They are ideal venues for mass events such as concerts, fairs, exhibitions, and weddings. Their unparalleled scenic beauty is highlighted by monumental crystalline turquoise water lagoons, which light up at night to create a magical atmosphere. Infrastructure such as theaters, terraces, domes, and climate-controlled esplanades ensures year-round events, regardless of the season.

Kristal Mall is part of one of Latin America’s most extensive agreements between Crystal Lagoons and AED, a leading Colombian real estate company. This strategic agreement includes 11 projects in key regions such as the Eje Cafetero, the Andean Region, and the metropolitan area of Bogotá.

América Retail & Malls

Crystal Lagoons adds new accolades in 2024 to its extensive list of awards, with three of its most iconic projects again winning top honors at the prestigious International Property Awards, further cementing its legacy of international success. These awards, widely regarded as the most prestigious in the global real estate industry, highlight the transformative power of Crystal Lagoons® technology, capable of turning developments into commercial phenomena, redefining urban landscapes, and significantly enhancing the quality of life in the cities where the crystalline lagoons are introduced.

Lagoon Park Bucharest: An Urban Revolution in Europe

In Romania, the PAL® Development Lagoon Park Bucharest won the “Leisure Development” award, showcasing the revolution of Crystal Lagoons® technology in this iconic European city by bringing the idyllic beach life experience close to homes. Part of the exclusive Central District Lagoon City mega-project, this monumental crystalline lagoon has generated a mass attraction phenomenon since its pre-opening. Tickets sold out a week in advance, and the queues exceeded two hours, reflecting the immense interest in enjoying this artificial lagoon, suitable for swimming and water sports. Accessible to anyone through ticketed entry, it offers a unique Caribbean-style experience in the heart of Bucharest. Surrounding it are 11,000 m² of white sand beaches, restaurants, a beach bar, terraces, event and sports areas, exhibition spaces, green areas, and other infrastructure typical of the PAL® model.

Santa Rosalía Lake and Life Resort: Award-Winning Excellence in Spain

The iconic Santa Rosalía Lake and Life Resort in Murcia continues to rack up accolades. This year, it took home two awards at the European Property Awards: “Best Mixed-Use Development” for the fourth consecutive year and “Best Mixed-Use Architecture.” Featuring a 4-acre crystalline lagoon as its centerpiece, the project reimagines the nautical experience, enabling water sports in a safe natural setting. It also combines luxury residential areas with commercial, sports, and entertainment zones, creating a unique balance between urban living and nature in one of Europe’s sunniest locations, with more than 300 days of sunshine a year.

Munyaka: Innovation and Commercial Success in South Africa

The Munyaka project, home to South Africa’s largest crystalline lagoon, added another award to its impressive list of nine international accolades. This year, it was again recognized at the African Property Awards, reaffirming its status as a luxury and sustainability benchmark. In association with Balwin Properties, this exclusive development has achieved unprecedented commercial success, breaking sales records and leading sales rankings that have earned it further recognition. In just four days, 550 apartments were sold, replicating the historic record set by The Blyde, another complex developed by Crystal Lagoons with Balwin Properties in Pretoria. Known as “Johannesburg’s first beach,” the Munyaka lagoon covers an area equivalent to seven rugby fields. This unique space blends white sand beaches with luxury apartments, recreational areas, and commercial services, creating an unprecedented experience in South Africa’s economic heart.