Real estate developer First Mamaia Residence SRL is facing severe financial distress during the redevelopment of the former Wida Hotel in Mamaia Nord, a situation that has culminated in the foreclosure of the complex’s main leisure facilities. Although the company achieved record turnover in 2025, its net profit dropped by 80%, and assets valued at EUR 3.02 million (also referenced in proceedings at over EUR 3.1 million) have been put up for public auction to recover outstanding debts.
The enforcement procedure is handled by SCPEJ “Dumitru, Iancu & Asociații” under case file no. 268/CD/2026 at the request of creditor Spirmina Corporation SRL, based on a final court decision upheld by the Bucharest Court of Appeal in late 2025. The auction is scheduled for October 15, 2026, at 11:30 AM, at the bailiff’s headquarters in Bucharest. The asset offered for sale is the space situated on the ground floor of Building B within the development located in Mamaia resort, 436A Mamaia Boulevard, totaling an area of 1,224.90 sq m, along with a 145.80 sq m share in the common areas and an undivided land share of 321.40 sq m. The property comprises the SPA zone, fitness rooms, and indoor swimming pools (594.90 sq m usable area, respectively 743.63 sq m gross built area), the pool terrace measuring 473.90 sq m, as well as outdoor pools of 141.80 sq m and 14.30 sq m. The starting price is EUR 3.02 million excluding VAT, corresponding to the ANEVAR valuation, with a 10% participation guarantee set at EUR 302.01 thousand.
The First Mamaia Residence project involved converting the former Wida Hotel into a mixed-use residential and hospitality development consisting of three buildings (structured as GF+Mezzanine+4F+setback 5F), a redevelopment authorized by Constanța City Hall and finalized with a construction certificate in August 2024. Financial results for 2025 reveal a major divergence: turnover rose by 15% to EUR 7.01 million, while net profit dropped sharply to EUR 220.15 thousand, supported by a workforce of 6 employees (+20%). The company, founded in 2012 as Steda Beach SRL and renamed in November 2019, is headquartered in Bucharest (16 Șoseaua Kiseleff P. Dimitrievici, District 1) and operates in real estate development. Its historical shareholder structure included Gheorghe Stelian (2016–2018), Gheorghe Maria (2016–2019), Dorin Mirel Mateiu (2018–2019), and Antonio Daniel Olăroiu, son of football coach Cosmin Olăroiu (October 2019 – September 2024). Currently, the company is solely owned and managed by Roxana Tănase, who also holds a 51% stake in Steda Residence SRL.
Frequently Asked Questions
What assets are being auctioned at First Mamaia Residence?
The auction covers the ground floor leisure facilities of Building B, including the SPA area, fitness rooms, indoor swimming pools, pool terrace, outdoor pools, and corresponding undivided shares of the land and common areas.
Why are these assets being sold at public auction?
The assets are being foreclosed to recover outstanding debts owed to creditor Spirmina Corporation SRL pursuant to an enforceable court ruling confirmed by the Bucharest Court of Appeal.
Who currently owns First Mamaia Residence SRL?
The company is wholly owned and managed by Roxana Tănase, following previous shareholdings by Antonio Daniel Olăroiu, Gheorghe Stelian, and Dorin Mirel Mateiu.