The initiation of the project to extend the M4 metro line from Străulești to Gara de Nord, and onward to Gara CFR Progresul, promises new development prospects in southern Bucharest, according to an analysis by the real-estate consultancy company iO Partners. Authorities have applied for 2.5 billion euros in European funding through the 2021-2027 Transport Program. Additionally, the tender for the project’s planning and construction was initiated in April.
Catinvest continues the expansion of Electroputere Parc and inaugurates the second mixed building of 12,700 square meters of class A offices and commercial spaces, as part of a total investment of over 40 million euros. The new building includes 8,300 square meters of offices and 4,400 square meters of retail, as well as new underground parking for tenants and customers.
Calea Victoriei in Bucharest, an artery with a length of 2.8 kilometers located between Victoriei Square and United Nations Square, will continue to develop as an office and hotel hub in the coming years, with developers' plans to build seven new office buildings and six hotels as a result of investments that may exceed the threshold of 300 million euros, according to a study conducted by Cushman & Wakefield Echinox.
The area near Aurel Vlaicu metro station, at the intersection of Barbu Văcărescu Boulevard, Pipera Road and Floreasca Road, continues to be the most effervescent real estate hub in Romania, developing rapidly over the past 10 years as the new business center of Bucharest, the existing stock being almost completely occupied (vacancy rate
Real estate developer Speedwell started the construction works of Record Park, the first mixed use development and urban regenerating project in Cluj – Napoca. The development process will attract an investment of 42 million Euros, the completion date of the entire project being due for the second quarter of 2020
The rediscovery of the idea of community, through which Bucharest can become a place where people care about each other and everyone from the city, is the motto of the two winning projects of community fund "Be a good neighbor", launched by AFI Europe Romania together with the Community Foundation Bucharest.
After initially it seemed that Barbu Văcărescu-Pipera had reached its potential, and the developers were moving to other districts of Bucharest, the area re-entered a new stage of development, transforming into the Northern Metropolitan Hub of Bucharest, a study of Bucharest Real Estate Club shows.
Geo Mărgescu, CEO and founder of the real estate development company Forte Partners, says that the centre-western part of Bucharest, mainly Orhideea area, will become in the following years an attractive destination for the companies in the financial and IT fields, which will look for relocation in this area of the city.
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