New office and residential projects turn student campus into real estate hotspot

About 1,600 apartments will be delivered in the Orhideea - Politehnica area in Bucharest until 2018. The area is turning into a residential hotspot, due to the high volume of office buildings that will be delivered in the area. The area will host eight large office projects developed by CA Immo, Forte Partners, Sema Parc, and Vastint (Ikea). They will total 170,000 sqm of office space and will be completed in different stages between the second half of 2016 and 2018, according to data centralized by real estate consultancy form ESOP. These new office projects will host about 20,000 new employees until 2018. They will be able to buy apartments in the area, as about 1,600 apartments are now in various construction stages. The biggest existing office projects in the area include AFI Business Park and Sema Park. The area could include new projects in the future. For example, the Swedish developer Skanska also plans to build an office near the Politehnica subway station. The Orhideea-Politehnica area has several advantages, as it is located around the Polytechnic University and the biggest student campus in Bucharest (Grozavesti-Regie), which provides companies that have their offices here with easy access to the new labor force, especially in the IT&C sector. The area has several subway stations and easy access to downtown Bucharest. Biggest Romanian bank consolidates its operations in new office building in Bucharest Software company leases 8,000 sqm in CA Immo’s new Orhideea Towers Inter Ikea’s local division gets permit for second office complex in Bucharest What makes Bucharest’s office market so hot right now? editor@romania-insider.com (Photo source: skycam.ro)