Developer GTC may build apartments instead of offices in Bucharest CBD

The real estate developer GTC, which currently owns only office buildings on the Romanian market, is also considering building housing units instead of offices on the land it owns in the Bucharest CBD (Exhibition area), Economica.net reported.

GTC, which has not developed any project in Romania over the past 13 years, owns since the end of 2018 a construction permit for the City Rose Park office project planned to involve EUR 100 mln worth of investments.

The project was supposed to be built on part of the land of the former Grivita factory, in an area where the Portland Trust developer completed the construction of Expo Business Park, and developer Impact completed the residential project Luxuria.

(Photo: Pixabay)

andrei@romania-insider.com

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Developer GTC may build apartments instead of offices in Bucharest CBD

The real estate developer GTC, which currently owns only office buildings on the Romanian market, is also considering building housing units instead of offices on the land it owns in the Bucharest CBD (Exhibition area), Economica.net reported.

GTC, which has not developed any project in Romania over the past 13 years, owns since the end of 2018 a construction permit for the City Rose Park office project planned to involve EUR 100 mln worth of investments.

The project was supposed to be built on part of the land of the former Grivita factory, in an area where the Portland Trust developer completed the construction of Expo Business Park, and developer Impact completed the residential project Luxuria.

(Photo: Pixabay)

andrei@romania-insider.com

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