Billionaire Dinu Patriciu, considered to be the wealthiest businessman in Romania, has an office building under construction in one of Bucharest’s hottest areas, Piata Romana (Romana Square), on a plot that at the time of the real estate boom, cost 7,500 euros/square metre.
Patriciu is going against the tide, and continues investments in office buildings, despite the fact that in Bucharest there are around 300,000 square metres of unoccupied space, around 20,000 square metres of which are in fact held by him, in the lower-rated Pipera-Tunari area.
“The building should be ready in five months’ time. The beneficiary has changed, and the new owner demanded a change of plans: he did not like the design, the fa’ades, so we needed to get new permits,” says one of the engineers on the construction site located on Dacia Boulevard, 50 metres away from the Romana intersection.