Projects & Construction

[3tmk]

well since we have almost no Romanians in here, I thought I could search for a couple of projects from their capital, and they seem to have a lot going on
I got the info from Colliers International
http://www.colliers.com/Markets/Buch...FindAProperty/
Central Park Residences






and some construction shots:

[3tmk]

15 floor office building:
B.O.S Bucharest Office Solutions
http://www.immoconsult.ro/immoconsul...=100&page_id=0

[3tmk]

wow, so much more!
Oracle Building, it's almost done, scroll down to see all the other pics
here's some news I found about it and a construction shot:
http://www.raiffeisenevolution.com/p...news&section=1

FLOREASCA TOWER BUCHAREST 07/2005
These days, there are two reasons to celebrate Floreasca Tower, which is under construction since fall 2004 in one of the booming development areas in northern Bucharest, near Lake Floreasca: In June, the roof-topping ceremony was held. But more importantly, the entire office building with approx. 7.600 m² net usable space has been long term leased to Oracle, the renowned IT company. To confirm this, the building will be renamed Oracle Tower. Due to the steady demand in the Romanian capital for first class office space according to international standards, this office building is fully let months before completion by the end of this year.

http://www.floreascatower.ro/


May 2005:


June 2005


And that's the last pics I could find, but I guess they've probably finished the cladding by now.
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Okay, now this is big:
http://www.businessromania.com/index...dnews&sid=7103

Trigenius To Invest EUR 80 Mln In A Bucharest Office Building
German real-estate consultant Trigenius will invest EUR 80 million in an office building in Bucharest, said Mihai Ghircoias, the head of the office spaces department of CB Richard Ellis. "Bucharest Business Tower will have a surface of 66,000 sqm, and 140 m in height, being one of the largest buildings in the area," Ghircoias said. Construction works will start in the second quarter next year and it is estimated to take 27 months. "Trigenius is a real-estate consultancy company and the most important projects they promoted are the buildings where Allianz, Commerzbank and Lufthansa have their headquarters. Bucharest Business Tower is the first building the company is involved in as an investor," Ghircoias added.
(10.11.2005)

140m!!! Damn, I must find more info on that one!
http://www.businessromania.com/index...ead&param1=all

Trigenius builds taller towers
Trigenius, a German real estate consultancy company, has started the development of an A class office building in the proximity of Alba Iulia plaza in Bucharest, according to CB Richard Ellis.




By


Among the facilities, the developer wants to include retail space, conference centers, pool terraces, a penthouse and a sky lobby.

>
print this article

Among the facilities, the developer wants to include retail space, conference centers, pool terraces, a penthouse and a sky lobby.
Bucharest Business Tower will be a complex of 66,000 sqm, about 140 meters in height, making it one of the highest buildings in the region.

Office amenities will include flexible open space floors, full acclimatization, raised floors, natural light and a good parking to space ratio, providing 525 parking spaces for the building. Work on the future building will start in the second quarter of 2006 and the project is scheduled for completion 27 months after construction begins.

The developer, Trigenius, has acted in the past as a consultant in Germany for real-estate projects that now serve as headquarters for companies such as Allianz, Commerzbank and Lufthansa.

“There are a considerable number of projects scheduled for delivery in 2008 or 2009. From this perspective, I think that each developer should consider giving a certain image or personality to each project, in order to make it competitive,” said Mihai Ghircoias, head of the office department at CB Richard Ellis.

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http://www.businessromania.com/index...dnews&sid=7101

Indian Company To Build Residence Complex In Bucharest
Indian company Asmita has EUR 150 million investments in sight on the Romanian residential segment and will develop the first residence tower building on the Romanian market, in Bucharest. Irina Albu, representative of the sales and residential leasing department of the real estate company Colliers International, said that the works will start next spring, and the first tower buildings will be completed in 2007's second quarter. According to data from Colliers, Asmita Gardens will be developed on a 27,000 sqm surface. Asmita is specialized in constructions, development, brokerage and real estate investment financing. "This is the first project of this kind, but there are two other companies interested in such buildings and that will probably develop residential tower buildings," the Colliers representative said at Biz Days, an event organized by Business Media Group. She added that 6,000 lodgings will enter the market up to 2008, targeting the middle segment.
(10.11.2005)

[3tmk]

okay, I found a good overview of this all, but I don't speak Romanian
But I can still get parts of it
http://www.expres.ro//bucuresti/?news_id=202830

Blocurile turn cuceresc Capitala

Pana in 2008, vor fi livrate peste 7.000 de noi unitati de locuit

Proiectele rezidentiale care promit cateva sute de noi apartamente par ca abia acum si-au gasit locul in Bucuresti. Dupa Central Park (nr. amplasat langa Parcul Circului) care va fi compus din 3 cladiri cu pana la 11 etaje, o companie indiana a anuntat recent ca va ridica 7 blocuri turn, fiecare urmand sa aiba intre 16 si 24 de etaje. Numai cele doua proiecte vor aduce bucurestenilor peste 1.200 de apartamente. De altfel, in urmatorii trei ani, vor fi date in folosinta mai mult de 7.000 de noi unitati de locuit. Vestea proasta este ca multe proiecte sunt catalogate ca fiind de lux, ceea ce inseamna ca numai afaceristii ori directorii de mari companii isi vor permite sa se mute in casa noua.

Luxul se instaleaza in blocurile mici

Zonele exclusiviste precum Primaverii, Kiseleff, Aviatorilor si Soseaua Nordului vor continua sa fie gazdele preferate ale constructiilor ultraluxoase. „In general, acestea sunt cladiri cu 4 - 6 etaje si maximum trei apartamente pe nivel. Pretul de vanzare este de circa 2.000 euro/mp. Interesant este ca, dupa cumparare, jumatate dintre aceste locuinte reintra in circuit, fiind scoase la inchiriere”, a declarat Irina Albu, reprezentantul Colliers International. Potrivit acesteia, pana in 2008 vor fi date in folosinta cel putin 650 de unitati de acest gen.

1.000 euro/mp in blocuri turn

Cum cererea masiva vine mai ales din partea romanilor cu venituri medii, constructorii s-au apucat de treaba si impun pe piata bucuresteana un nou concept, respectiv blocurile turn, care va permite practicarea unor preturi mai suportabile.
„Capitala se va dezvolta pe verticala, tendinta fiind impusa de preturile foarte ridicate ale terenurilor din zonele bune. Noile blocuri vor avea cel putin 10 etaje, motiv pentru care preturile de vanzare ale locuintelor vor fi, in medie, de 1.000 euro/mp. In urmatorii trei ani vor fi livrate pe piata circa 6.000 de unitati de acest gen”, a declarat Irina Albu, la un seminar organizat de BMG.

Indienii vor construi peste 700 de apartamente

Un proiect de acest gen va fi dezvoltat de compania indiana Asmita care a programat investitii de 150 milioane de euro pe segmentul rezidential din Romania. Cel dintai ansamblu de locuinte in blocuri turn va fi construit langa podul Mihai Bravu din Capitala. Lucrarile vor incepe in primavara 2006, iar primele turnuri vor fi finalizare in cel de-al doilea trimestru al anului 2007.
Albu a mentionat ca lucrarile vor incepe in primavara anului viitor, iar primele locatii se afla la intersectia soselei Mihai Bravu cu Splaiul Unirii. Potrivit datelor Colliers, complexul Asmita Gardens va fi dezvoltat pe un teren de 27.000 mp si va cuprinde sapte cladiri, fiecare cu cate 16 sau 24 de etaje. Proiectul va oferi 780 de apartamente cu unul, doua si trei dormitoare, care vor fi vandute la un pret de minimum 950 euro/mp fara TVA.

Afaceri la 140 de metri inaltime

In partea de est a Bulevardului Unirii, compania Trigenius va ridica o cladire care, pe langa spatii de birouri si retail, va oferi un amfiteatru si un apartament penthouse. Proiectul prevede si amenajarea a 525 de locuri de parcare. Lucrarile de constructie vor demara in cel de-al doilea trimestru din 2006, cladirea urmand sa fie finalizata 27 de luni mai tarziu. Inaltimea Bucharest Business Tower va fi de 140 de metri. Turnul va fi construit pe o suprafata de 66.000 mp si va fi dat in folosinta in 2008 sau 2009, anunta CB Richard Ellis.

Okay from what I understand, the Central Park project will have 3 buildings of 7 floors and 7 of 16 to 24.
Then for the Bucharest Business Tower, height of 140m, it will begin in 2006, be 66000m sq. and be completed around 2008 or 2009.

[3tmk]

oh common!
It's a frikkin 140m tower, damn it!
Are you all jealous that Romania will get a higher tower, so you're all ignoring the issue?

[Pavlo]

Originally Posted by 3tmk

oh common!
It's a frikkin 140m tower, damn it!
Are you all jealous that Romania will get a higher tower, so you're all ignoring the issue?

They are too busy discussing their 2 story coffee shops to care!

[dejan]

wow really impressed by Bucarest! Great job 3tmk (not so much on the language part:p) thanks!

[Singidunum]

wow 140m in Bucharest. That's awesome news. Time for Belgrade to do something about this

[3tmk]

Damn right you are!
140m, that's pretty high compared to the rest of the Balkans!
And another article:
http://www.investromania.ro/publicat...70&cap=ECONOMY

Great Demand for Office Space
Author: Luiza Nitoi, luiza.nitoi@mediaon.ro

The many investments over the past few years in office buildings has not yet managed to meet market demand and real estate agents are saying that construction in the coming 2-3 years is unlikely to change the situation, as increasingly more companies are opening branches in Romania. The lack of supply is yielding an estimated 10% profit rate for investors involved in such projects.



The opportunity afforded by the Romanian market for office buildings is obvious. Many new buildings have been constructed or are in the process of construction, mostly in the central and northern regions of Bucharest. Others have been announced for the period immediately ahead. According to Eurisko, in 2005 alone the surface of Class A business space will rise by 140,000 sqm, or some 28% more than in 2004. The largest projects are America House, Bucharest Business Park, and Floreasca Tower.



A new EUR 25 million investment in a Class A office building has been announced at the end of the summer by the German company, ValueROI Group. The Baneasa Airport Tower will be located near Baneasa Airport. “The Class A office market is 10 times smaller than that in Budapest, and the supply will not cover demand even in the coming 2-3 years”, said Cezar Lazarescu, General Manager of Rom International Service, the projectís exclusive real estate agent. “A comparison with neighboring countries, that have recently acceded to the EU, shows a positive trend in terms of office space prices, in terms of massive differences of available surfaces”, added Lazarescu. The new building will have 11,000 sqm of constructed space and will be finalized in 11 months. “There is much poor construction in Bucharest. We must attempt to give new meaning to office buildings, both in terms of aesthetics and environmental integration”, says Vlad Cavarnali, Alpha Studio Architect, designer of the project and of the Bucharest Business Park. Upon conclusion, the building will be sold or rented. “In case of rental, we will be charging EUR 18/sqm (without VAT) for offices above the ground floor, and the latter will cost EUR 40/sqm (without VAT), with prices not including services. If we opt for sale of the building, one square meter will cost EUR 2,000 (without VAT)”, explains Cezar Lazarescu. According to the real estate agent, there is already demand for both rental and sale of the building.



The ValueRoi Group has invested to date in Germany, Russia and Romania. In addition to the Baneasa Airport Tower, the company is carrying out two other projects: a residential complex in Sinaia and an apartment building in Bucharest.



Eastern European Office Market



A comparative study by CB Richard Ellis (CBRE) of Central and Eastern European office space shows that Bucharest has little such space and charges lower rents. Concerning prices, these are higher than Sofia and Bratislava: EUR 18/sqm/ month in Romania compared to EUR 16 in Sofia and EUR 17 in Bratislava, while the cost in Moscow is EUR 41.5 and EUR 20 in Warsaw.



The CBRE study goes on to show that Bucharest has some 700,000 sqm of constructed office space, more than Sofia, with its 500,000 sqm. Moscow and Warsaw have the most space, 4.9 million sqm and 2.3 million sqm, respectively. The investor ratio in Romania is 19%, in Sofia 10.25%, and 12.5% in Moscow. The rate in the Czech Republic, Hungary and Poland is 7-8%.



CBRE specialists estimate that the entire area will enjoy an increase of some 1.4 million sqm of office space in the last part of the year, some 14% more than in 2004. “While development will be visible especially on young markets, such as Bucharest and Sofia, growth in Central Europe will be mo*derate”, according to the report.



New Business Hotels in Bucharest



The business segment has attracted investments in Bucharest hotels. Two new players on the market are the four-star Times Hotel and the three-star NH Hotel. The Times can accommodate 70, has a Club on the 10-11 floors of the building (with meeting space for 10-100 persons, all with audio and video conference equipment), an international res*taurant and a coffee bar on its terrace. “Its excellent location along Decebal Boulevard and the fact that it is targeting the business and event segments make the Times Hotel a leading hotel property in a rapidly expanding economic sector in Bu*cha*rest, especially since an increasing number of companies and financial institutions are opening headquarters in the residential area near Unirii Boulevard, between the Parliament Palace and Muncii Square”, says Paul Marasoiu, President & CEO, Peacock Hotels/ Global Hotel Management.

Another business hotel is that of the NH Hotel chain. One of these three-star hotels has opened in Bucha*rest, not far from Otopeni Airport, with 78 rooms and 2 conference rooms. The other four-star NH Hotel is in the process of construction in
Timisoara.



New Class A office buildings in Bucharest



Charles de Gaulle Plaza: located in the square by the same name, with a constructed surface of 40,000 sqm, of which 30,000 sqm are destined for offices, with 350 parking spaces.



America House: located at Victoriei Square; 26,000 sqm on 9 floors, 350 parking spaces.



Bucharest Business Park: located along the Bucharest - Ploiesti Highway (near Casa Presei Libere); surface: 18,000 sqm office space; 450 parking spaces.



239 Dorobanti: located in Charles de Gaulle Square, total surface of some 11,000 sqm, of which 7,000 sqm of office space.

[MIMICA]

For some odd reason, I've always liked Romania.

[Football Rules]

Very cool projects on Romania, a bit surprised no romanian members in here but in the future perhaps.
Check this out:

Bukur+est = Bukur+është=> It's beautiful (translated in albanian)

[3tmk]

^lol, even more proof that Romanians are Illyrians
for the Romanian community, we have a couple of on/off members, that show up here and there, but nothing concrete. Though with all the construction that seems to be going down in there, and with this 140m tower in the works, I'm sure skyscrapers and urbanism will catch the attention of a couple of them.
And for the name, at first I wrote Bucaresta, then I remembered I had it all wrong, good thing I can edit threads
And when I was a kid, I would never be able to distinguish Budapest from Bucharest :P

[Football Rules]

2 great writers of Romania who were albanian origin and contributed greatly to both romanian literature and relations between the 2 people over the years

Eftimiu Viktor, 1889 - 1972, Romanian writer of Albanian origin.Distinguished personality of Romanian culture and world culture.Academician Eftimiu was born in village Boboshtice of Korca, andemigrated in the first years of his life in Bucharest of Romania. Among the most outstanding works of Eftimiu is the novel "Man who saw death with his own eyes", "The Black Cock", "Prometheus","Dr.Faust" etc. , any many creative writings with Albanianmotives such as "Portraits and Memoirs", "Two crosses", the short poem "Scanderbeg", the essay "Albanian Folklore", etc. During his life, he kept links with the birthplace. At the beginning of the20s, he was the chairman of a patriotic association which workedfor the protection of the rights of Albania as an independentstate.



Gjika Elena, (Dora d'Istria,) 1829-1888. Romanian progressivewriter and publicist of Albanian origin. She is the author ofmany studies such as Albanian nationality according to folksongs, Albanian writers of southern Italy, Albanians in Romania,etc. She is known in the world opinion for the contribution shehas made to the Albanian question.

[Football Rules]

140 m tower is deffinitely great news.
We need renderings though

[Timoth12]

Very good update for the Bucharest development, 3tmk. I only wish more Romanians could be present in the forum. Bucharest was once, in the preWWII period characterised as "Paris of Eastern Europe". New construction, reconstruction and development could turn the picture of Bucharest again to its former reputation.
Keep up a good job

[3tmk]

yes, but communist urban planning had other plans, and not to talk about Ceaucescu who had grandiose ideas.
In any case, Bucuresti has lots of potential, and we can see it in the projects I found. Romania is a big country, and with such a big market that is getting richer, companies are just dying to get in it.
Of course it isn't at the same scale as some Asian countries, but still

[3tmk]

some news:
http://www.bbw.ro/homeandoffice001.htm

[b]Baneasa Business & Technology takes shape/b]
by Dana Gheorghe
Baneasa Investments, which launched the 1.2 billion Euro commercial, business and residential Baneasa Project last summer, said it began construction works on the business segment of the project called Baneasa Business & Technology Park.
The park will consist of 11 class A and A plus office buildings, to be developed in five stages until 2010. Built on a plot of land of 12 hectares, Baneasa Business & Technology Park will have a total area of 160,000 sqm, and will also comprise a hotel with 300 rooms, conference halls, restaurants, bars, cafeterias, gyms, health club and car parks.
In the first stage, two office buildings, with a total built area of 30,000 sqm and a usable area of 26,000 sqm, will be developed. In the next three years, more than 50,000 sqm of class A office buildings are scheduled for completion, company officials said.
"We have already started construction works for these two buildings with the first technical procedure, namely removal of the vegetal layer. If the weather allows it, construction will go ahead at full steam, as both buildings are scheduled for delivery at the end of 2007," Ionut Bodea, marketing director with Baneasa Investments said.
Asked by BBW about the value of the investment needed for the two office buildings and about the source of funding, Bodea declined to comment, saying that Baneasa Investments had multiple financing sources and a capacity to self-finance itself up to a certain state of development.

[nitz]

3tmk, thanks for paying a look at Bucharest!

About the projects on this page:
*Central Park Residences - not actual skyscrapers, set of 15 floor appartment buildings, construction ongoing.

*B.O.S Bucharest Office Solutions - looks good on paper, but works have not started yet. It's placed in a very crowded area, I don't know if they will ever build it.

* "Bucharest Business Tower will be a complex of 66,000 sqm, about 140 meters in height". This is far from even being planned. There's a very large empty area downtown Bucharest (Esplanada) which is planned for skyscrapers in ~ 5 years from now.

* Oracle tower - they have already moved in.

* Baneasa park - Commercial area is ready, but the business park is still on the drawing board.

@"Football Rules"... [Off topic] i didn't know that Victor Eftimiu came from an Albanian family, thanks for the insight

[3tmk]

Welcome nitz
Well as you mentioned, the Central Park aren't really skyscrapers, but we don't have real skyscrapers in Eastern Europe, so we mostly talk about midrises and highrises.
So the BOS and the Bucharest Business Tower haven't been approved yet?
And are you aware of any other activity in Bucharest, maybe in the Esplanada you mentioned?

[ANDRZEJ]

[QUOTE=3tmk]well since we have almost no Romanians in here, I thought I could search for a couple of projects from their capital, and they seem to have a lot going on
I got the info from Colliers International

I love this country BUCURESTI so nice ,beautiful city. I was 1980in Bucuresti and Constanza also , in Mamaia I can imaging how all country looks now Do you have more pics of Capital City , and Oradea, Ploesti, Black Sea
I will appreciate very much if you place some pics here! I believe Romania will bee soon European Union country together with Poland. Great!