Supermarkets drawn to residential districts

They say you shouldn’t care how far the closest store is, as long as you have a car and some gas money. However, residential districts seem to contradict this theory, as they have prompted the expansion of supermarkets in these areas.
Such a project, estimated to be worth more than three million dollars, will start in one month, in the Baneasa residential area, near the Zoo.
The project will look like a “smaller mall”, two-story high, with the food section set to play a key role, says the project manager, Sorin Minea. The building will be erected by a real estate company holding luxury hotels in Switzerland.
“It will spread on some 2,000 square metres. I cannot tell you the total value of the project or the builder’s name, because I am bound by a confidentiality agreement not to disclose certain aspects,” Minea stated. He added this would be the foreign company’s first project on the Romanian market, with its involvement negotiated by the Swiss partners of Angst Ro, a company headed by Minea.
According to Minea, the food supermarket alone would need three million dollars. The “little mall” will also have an underground parking lot. Construction works should be completed by yearend, Minea claims.
The Baneasa area has been developing mainly in the past five years, with tens of millions of dollars invested by the companies that have built luxury villas and condos there. More than 20 companies are doing business in this area.
Investments in the Capital’s residential areas total some 500 million dollars, with many new projects in the pipeline.
Investors seem to find Bucharest’s northern area increasingly appealing, for various reasons: better infrastructure, two airports nearby, and many green spaces.
According to specialists, the area is home mainly to foreigners working for multinationals or Romanians in top management positions, and diplomats. Thus, it can be easily understood why supermarkets want to get as close to these tenants or homeowners as possible.