“The housing market of southern Bucharest has posted fast growth in the past 12 years, with more than 100,000 new inhabitants moving to the area. Whereas so far proximity to the underground was the main plus of the area, with the trading of the former IMGB platform an over 50-ha land plot will be developed from scratch, in what will probably be the largest urban regeneration of Bucharest after the revolution. Since we traded this land plot acquired by SIF Banat-Crisana, interest in the area has soared and a new subsequent deal involved the sale of a 17,000-sqm land plot, owned by Sacin and traded by ICD Real Estate Development. ICD is an entirely Romanian-held development company planning to develop a housing project,” specifies Ionut Stan, associate director, land development, Crosspoint Real Estate.
Bucharest’s southern area has attracted the biggest number of housing developments.
IMGB platform was considered as the elite unit of the Romanian industry of the communist period, having 13,000 employees at some point.
(English version by Catalina Apostoiu)