New office and residential pole emerges in northern Bucharest

The area in northern Bucharest known as “Expozitiei” (Exposition) due to its proximity to the city's main exhibition center - Romexpo is turning into the city's new pole for office and residential developments.

Developers have announced the construction of over 200,000 square meters (sqm) of office spaces and 3,000 housing units in the area, in the next five years, according to an analysis by the real estate consultancy company ESOP Consulting and CORFAC International.

By the end of 2021, approximately 156,000 sqm of Class A office space and some 1,500 new housing units could be delivered in the area in the four projects that have already received building permits. Moreover, mixed-use projects in the planning phase will be added over time on land already purchased by large, experienced developers, which could bring another 100,000 sqm of offices and more than 1,000-1,500 housing units in the next 5-10 years.

“The interest for the Exposition area has grown, due to the [advanced] development of the center-north area, the Expozitiei area emerging as an alternative to the Aviatiei-Floreasca-Barbu Vacarescu business pole, which is getting close to maximum capacity. Expozitiei is a new business pole with good accessibility and many large plots of land available, which will allow organic growth,” says Alexandru Petrescu, Managing Partner of ESOP Consulting and CORFAC International.

The city's new subway line to the airport will make the area even more accessible for commuters.

(Photo source: Pixabay.com)