Examples include Silk District announced by Martin Slabbert for Iasi, ISHO, developed by Ovidiu Sandor in Timisoara and Sema Parc in Bucharest.
The former large industrial sites in Bucharest and in the major cities are attracting interest from developers again, who want to invest in development of ‘mini-cities’ which include office space, homes and all sorts of amenities to be able to rely as little as possible on the outside infrastructure.
“Interest in large plots for mixed-use or just residential projects built around the gated community concept has increased in the last few years. The Ventilatorul, Victoria on Iuliu Maniu [Boulevard], and the Immofinanz/Adama plots on Jandarmeriei are but some of such deals. There is interest now in large plots for scale projects and for small and medium-sized plots in central locations, depending on developer profile,” said Sinziana Oprea, Director Land Agency with Colliers International.
The latest deal involving a former industrial site was signed by One United Properties. The real estate developer owned by Andrei Diaconescu and Victor Capitanu bought the 5.3-hectare site of the former Ventilatorul plant in Bucharest.
The future One Cotroceni Park will be a mixed-use development including office, retail and residential space. In 2018, Speedwell bought two plots of more than 50,000 square meters in the Jandarmeriei area in Bucharest from Immofinanz for a project that will include both office and residential space. They are near the future Tokyo subway station on the line that will one day connect Romexpo and the Otopeni Airport.
(English version by Loredana Fratila-Cristescu)