Ruxandra Macelaru – GC Powerlist
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Romania 2025

Industrials and real estate

Ruxandra Macelaru

Head of legal | Forte Partners

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Romania 2025

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Ruxandra Macelaru

Head of legal | Forte Partners

What are the most significant cases, projects and/or transactions that you and/or your legal team have recently been involved in?

In the past year, my team and I have been deeply involved in the advancement of U•Center 3, the third and final phase of Forte Partners’ landmark development in Bucharest. This €100 million mixed-use project brings together a 12,500 sqm office building, 1,700 sqm of retail space and 200 premium residential units. The office component has already entered construction following the successful permitting process, while the residential segment is scheduled to begin in 2026.

Our legal work has spanned across all stages of the development, from navigating a complex permitting and regulatory environment, to structuring financing through a balanced mix of equity and bank lending. We also supported negotiations with tenants and consultants to ensure that the project will integrate top-tier certifications, including LEED, WELL, GRESB, and Access4you Design Gold, the latter being a first for office projects in Romania.

How do you approach managing legal aspects during periods of instability or crisis to ensure the organisation’s resilience?

Managing legal aspects in times of instability requires foresight, flexibility and an unwavering commitment to governance. Romania is currently navigating a volatile economic context, with inflation at one of the highest levels in the European Union, a VAT increase and interest rates that remain elevated. Such conditions inevitably place pressure on both residential demand and office investment decisions, compelling us to adapt swiftly.

 My approach in such periods is to ensure that risks are continuously monitored and anticipated. We carefully analyze the impact of legislative and fiscal changes on our contracts, financing arrangements and compliance frameworks. At the same time, we prepare alternative legal strategies so that projects can be recalibrated when needed. Equally important is aligning all stakeholders, from investors to contractors and public authorities, so that transparency and clarity are maintained even under challenging conditions.

This combination of anticipation, scenario planning and stakeholder coordination allows us not only to safeguard ongoing operations but also to strengthen the organisation’s resilience by turning crises into opportunities for improvement.

How can general counsel foster a corporate culture that supports ESG principles and compliance across all levels of the organisation?

At Forte Partners, ESG is not viewed as a checklist but as a guiding philosophy for how we develop projects that remain relevant for decades. As general counsel, my role is to embed this philosophy into the company’s culture, ensuring that every contract, negotiation and operational decision reflects our long-term responsibility toward the environment and society.

This begins with integrating ESG obligations into agreements with suppliers, tenants and financial institutions, making sustainability and inclusion a core element of our contractual frameworks. It also means working hand in hand with our architects, engineers, and project managers to translate ESG principles into tangible features. These measures are not only regulatory or reputational milestones but clear signals to our teams and communities that inclusivity and sustainability are non-negotiable values.

By framing ESG as a shared responsibility rather than a compliance exercise, we foster a culture where every member of the organisation contributes to leaving behind projects that are healthier for the city, more inclusive for its people and more sustainable for future generations.

How does your team contribute to the overall business strategy of the company? Can you share an example of a recent legal-led initiative that had a significant impact?

At Forte Partners, the legal team is not only a guardian of compliance but also a strategic partner that enables the company to grow in a controlled and resilient way. Our role is to ensure that the framework within which business decisions are made is solid, forward-looking and capable of withstanding the pressures of a dynamic market. By anticipating risks, adapting contractual structures to changing conditions and embedding ESG principles into our work, we help translate the company’s vision into projects that are both feasible and sustainable.

A recent example is our involvement in the third phase of the U•Center project. From the early stages, the legal team supported management by shaping the contractual structures around financing, tenant negotiations and risk allocation, ensuring that the project could move forward smoothly even in a challenging macroeconomic climate.

Ruxandra Macelaru - Romania 2023

Head of legal | Forte Partners

Ruxandra has been general counsel of the Romanian real estate landmark developer, Forte Partners for the last seven years. She has over 20 years of experience and is qualified in...

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