Home » Business » Bucharest’s Booming Sector: Massive Investments, Apartments, Malls, and Offices Underway.

Bucharest’s Booming Sector: Massive Investments, Apartments, Malls, and Offices Underway.

Ionuţ Negoiţă, the most active real estate developer in the Capital.

The new infrastructure projects alongside the commercial area with names such as Dedeman, Ikea, Jumbo or Auchan alongside the thousands of new homes will transform Pallady into one similar to the Băneasa area in the north of the Capital, especially with the future office developments.

The Pallady area, between the Dâmboviţa river and the Republica-Industriilor, still has over 1,000 hectares of land available near the metro stations. Moreover, Theodor Pallady boulevard has already attracted big names in retail, such as furniture, such as Ikea, but also in DIY such as Dedeman or Leroy Merlin or food – Auchan, Lidl or Kaufland.

“We have subway lines, tram, bus, boulevard with three lanes in each direction and development potential in the area. I estimate that there are about 1,000 hectares available for development, land where there are not many old buildings. Especially in the last 10 years there was a rapid development, during which 20-25,000 houses were built. Moreover, here we are discussing a compact area that no longer exists anywhere else in Bucharest, both as an extension and as means of public transport, facilities or infrastructure”, said Ionuţ Negoiţă, the most active real estate developer in the Capital, in – an interview given to ZF.

The developer also wants to invest in an office project to complete the commercial component in the area.

“I intend to start designing an office development on an 18,000 square meter plot of land close to the subway and in the vicinity of Ikea in about a year. I am optimistic. There will be a 50,000-60,000 m2 office building. Mandatory, an office pole will be created there. It will be like a new city with everything it needs”, emphasized Ionuţ Negoiţă.

Beyond an office component, to come alongside commercial and residential, Pallady also needs a mall, with elements such as a modern cinema to complete the list of functions.

“The Pallady area needs office buildings and a mall. Once I opened the medical clinic, I was pleasantly surprised that the interest for employment in the clinic was high even though the medical sector is one with a deficit. The explanation was simple – many of the employees already live in the south, east or west and work in the north, they also travel an hour and a half to work and spend a lot of time in the car. They want to work as close to home as possible. Now we are dealing with a “dictatorship” of the employee and not of the employer, like the time when offices were built in the Pipera area without a subway, and the companies will come after the employees, and the distance to the workplace is in the top three priorities beyond of the climate at the workplace and salary”, stressed Ionuţ Negoiţă.

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