DRS-Architects: Cumulative projects and retail developments, growth engines in 2024

DRS-Architects, one of the leading local architecture firms with a portfolio that includes numerous commercial centers, residential spaces, hospitality projects, and urban regeneration solutions, concluded the first half of 2024 with a turnover of approximately 500,000 euros. This growth places the company on the projected development path, aiming for an annual turnover of 1 million euros. The positive trend is attributed to projects in the retail segment as well as residential projects, which include both new constructions and conversions from office spaces.

The rapid growth in retail, the increasingly active entry of international players into the market, along with the still growing local market needs, have been factors contributing to the increased number of projects in this segment for DRS-Architects.

"Long-term partnerships with major international retailers contribute to maintaining a constant flow of projects in this segment, with their expansion pace being steady and in line with market needs. In addition to these new projects, we are also working on expanding older projects that have developed organically and now need to accommodate both new commercial spaces and updated customer experiences", mentioned Andrei Lefter, founder and managing partner of DRS-Architects.

One of the projects the architecture studio team is actively working on is Arena Mall in Bacău, a shopping center that attracts an active flow of 3 million visitors annually. For this project, beyond expanding the commercial area, the DRS-Architects team focused on delivering a complete experience for visitors, with spaces dedicated to entertainment: a 10,000 sqm theme park and an additional 1,000 sqm dedicated to terraces. The project also includes the design of the first international chain hotel in Bacău - the Mercure Hotel. The construction works are scheduled to begin in the second half of this year.

Residential Segment: Conversions and Extensions of Existing Projects

The residential segment continues to be significant, with large-scale projects aiming to deliver both individual and collective new housing. Projects in this segment are being developed both in the capital and the metropolitan area, with over 600 apartments in various stages of development, as well as two individual housing projects. In the eastern part of the country, the DRS-Architects team is involved in various phases of development for two residential projects in Bacău, totaling 245 housing units to be delivered over the next 3-5 years.

A characteristic of current residential projects is their optimization and adaptation to market context, in terms of both living space and construction costs, as well as final pricing. Additionally, a new trend emerging in the market is the development of mixed-use projects, integrating commercial and residential spaces, such as the Arena Bacău project. Conversion projects are also becoming more prevalent, where spaces are adapted to the dynamic context. This category includes the conversion of office projects into residential spaces, with the DRS-Architects team working on a project to transform a 40,000 sqm office building into residential spaces.