Bucharest could reach a population of 3.5 mln in the next years

Romania’s construction sector could start growing again, as the country is going through a massive urbanization process, concentrated mostly in big cities. Bucharest could reach a population of 3.5 million in the next years, said Corneliu Fecioru, board member with bricks producer Wienerberger Romania, cited by local Wall-street.ro. Bucharest and Ilfov generated 20% of the total investments in the residential sector two years ago, but now they account for about 25%. The east of the capital is going through important changes. About 50 hectares of plot have been bought, half of which could be used for residential projects, based on estimations. This would mean some new 10,000 apartments in the area. The north of Bucharest remains attractive, with about 20 hectares traded in the area, mostly for office developments. Bucharest, Cluj, Timisoara, Suceava, Iasi, Pitesti, and Brasov are the most important development poles in the country, Fecioru thinks. editor@romania-insider.com