At the southern end of Basarab overpass, real estate developers have their plots of land ready for the development of a new office space cluster, in the wake of investments worth around 400m euros. The main challenge: finding tenants.
Businessman Ion Radulea, Austria’s Europolis, Israel’s AFI
Europe or Spain’s Gran Via have their plots ready to consolidate a
new office space cluster in Grozăvești-Militari area, but are still
waiting for tenants to become interested again to restart
investments valued at around 400m euros.
The area has been appealing to office developers for several years.
This is where Global Business Center building was raised in 2004,
known as “Connex headquarters”, and more recently, on Dâmbovița
banks, the first stage of Sema Parc project or Riverside building,
where Bucharest City Hall operates, have been erected up.
Plans for this area are broader, though, but works are now underway
only to fit out the Golden Blitz Center, of 3,000 square metres,
located at Răzoare crossroads, and also for the first building near
Cotroceni Pak mall, owned by Israel’s AFI Europe.
The main reason the rest of the developers are late in starting
construction works is related to finding tenants, crucial for
getting bank funding.