Capital mayor Nicusor Dan: “Bucharest needs a partnership between public authority and the real estate investors”

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At the initiative of Bucharest Real Estate Club, the representatives of the real estate business environment – some of the largest companies active on the market, with cumulative investment portfolios of over 10 billion euros in Romania – participated today in the consultative meeting on “Real Estate and Infrastructure Agenda of Bucharest in 2022 ”, with the General Mayor Nicusor Dan and the representatives of the Bucharest City Hall.

The main topics discussed were the vision regarding the sustainable urban development of Bucharest, and the big real estate projects in the next years and the need to identify common and feasible solutions between the central administration and investors, for a coherent development of the city and ensuring a predictable legislative and decision-making framework.

“Bucharest needs a development that satisfies the public interest and that is based on the scientific principles of urban planning. This requires a partnership between the public authority and the real estate developers and a strong public authority, which knows how to impose on the elements of the big development of public interest, from the transport, school or medical infrastructure to quality public spaces”, said General Mayor Nicusor Dan during the meeting.

According to an analysis carried out this year by Bucharest Real Estate Club, projects worth more than EUR 3.5 billion are underway in Bucharest, in various stages, with delivery deadlines until 2023. The value includes investments in major urban regeneration projects, which bring back to the public circuit former abandoned industrial platforms in central areas of the city, in new office buildings, adapted from the point of view of smart technologies used to the new hygiene and health conditions, in modern residential compounds, which define new living standards in Bucharest, in new retail schemes and logistics hubs near Bucharest, as well as in infrastructure projects. In the residential segment alone, developers are investing 1 billion euros in middle & upper-class housing projects.

Bucharest continues to attract the largest volume of investments in Romania, the real estate segment being a massive contributor to increasing the investment attractiveness of the Capital. In order to continue the consultations and identify the most sustainable solutions, which will continue to keep Bucharest attractive on the investment map, a new working meeting will take place at the beginning of next year between business representatives and Bucharest Mayor, Nicusor Dan and PMB representatives.

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