At least 16 old industrial platforms may become new residential or commercial projects in the coming years.
The lans of the former Casa Radio, Explanada from B-dul Uniri, the Ascensorul platform in Calea Giulesti could become the sites of future office, residential or shopping center buildings, these being just some of the best-known locations, which have not yet been put into value.
Real estate consulting firm Knight Frank Romania says there are at least 16 industrial platforms that would add up to more than 300 hectares of available land in Bucharest, after 40 other industrial platforms have been valued with real estate projects in the last 28 years.
In the locations that have the infrastructure and public transport insured, as is the case of Razoare or Bucurestii Noi, it is estimated that they will become completed projects in the next 5-7 years. Other industrial platforms will have their future linked to economic growth and infrastructure development, but it can be estimated that in 10-15 years they will also become real estate projects. The absorption potential of Bucharest is not yet ready to exploit all the existing sites, because larger investments are needed, as the example of IMGB or Republic shows, where development is expected in several phases, so we talk about longer periods of time, maybe up to 15 years. According to the Director of the land division of Knight Frank Romania.
On the other hand, if the old value-added platforms have been transformed, in several cases, into shopping malls, hypermarkets, the remaining platforms in most cases have a strictly residential potential, since they are located in the south or east of the Capital.
This type of site by its nature have good access, are located within the city and have generous surfaces, so they allow large projects to develop. Unlike the cities of Western Europe, the communist regime allowed industrial development in the city and built residential areas around these factories.
Now, that the old factories have been left behind, they are only large parcels of land, in some cases in central areas that offer the possibility of developing large projects, as is the case of Timpuri Noi Square, with offices and houses, or on the other hand the AFI Palace Cotroceni shopping center.