Entire Real Estate Solutions, a company owned by local entrepreneurs Călin Gabriel Dobra and Alina Codruţa Dobra that has developed retail spaces for Lidl and Kaufland, plans to develop a mixed-use real estate project next to the IKEA Pallady store in eastern Bucharest.
The project, called Estoria City, will include 1,200 apartments, 50,000 sqm of office spaces and 40,000 sqm of retail spaces near the Nicolae Teclu subway station.
"Mixed-use projects respond to market demand. We practically build what our customers now dream of - to also have time for something else - apart from waiting in traffic to get to work or to go shopping,” explained Christian Hiver, development director of Estoria City.
Hiver has formerly served as director of Paladin - a member company of RED group, which has developed several retail projects on the Romanian market.
The Theodor Pallady area is attractive for developers because it has access to the subway, which can serve new residents to ease their transport to the city center, and there are several large land plots available for development in the area.
Romanian real estate developer Edificia Star Construct, indirectly controlled by local investor Ionut Negoita, started...