Bucharest’s current office districts are Piata Victoriei-Aviatorilor, Barbu Vacarescu – Floreasca, and Dimitrie Pompeiu (Pipera).
The former industrial sites in the Orhideelor area, such as the Grivita brewery and the Spicul industrial bakery will accommodate new office space projects mainly developed by Romanian investors, after the area changed with the construction of the Basarab Overpass travelled by 80,000-100,000 cars every day.
“We will see a number of companies (financial institutions, pharmaceutical, financial services companies) relocating operations and even headquarters to the Orhideea area,” says Andreea Paun, associate director with the office department of real estate consultant Colliers.
“On the other hand, Iuliu Maniu-Semanatoarea will become more clearly defined as a destination for IT companies.”
New projects will be developed and join the already existing office buildings — the Sema Parc of businessman Ion Radulea and AFI Park of Israeli-held AFI, as well as the planned Orhideea Towers of Austria’s CA Immo, because the land in the northern area of Bucharest where most office development has taken place in recent years is becoming scarce.
A recent deal in the central-western area of Bucharest is the acquisition by Forte Partners, founded by investors Ionut Dumitrescu, Geo Margescu and Johnny Jabra, of an almost 13,000 square meter plot from Hercesa across the street from Carrefour Orhideea. This plot is the former Spicul industrial bakery site.
The investors intend to develop a 57,000 square meter office space project. The same investors, as well as German-held retailer Kaufland, bought the land of the former Grivita brewery next to the Basarab Overpass from Heineken.
The real estate arm of IKEA group, too, bought two hectares of the site of construction materials supplier Baduc near the Basarab Overpass four years ago, where it intends to develop office space.
An undeveloped plot in the area is located near the Politehnica subway station and its owners are Ion Radulea and the Bronte family. It used to be the site of the Pumac plant.
(English version by Loredana Fratila-Cristescu)