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Constructions crisis: Just one construction site out of four busy in Militari-Lujerului

10.05.2010, 23:03 8

5,000 new apartments were announced in early 2008 by developersthat paid tens of million euros for plots of land in Lujerului areaof Bucharest, confident that proximity to underground stations willfacilitate sales of apartments off-plan. Just 343 of the 5,000housing units have been finalised, though, with another 200 onesbeing under construction. To see the only large construction sitestill busy in Lujerului area you can follow a quite poorlyasphalted road or enter, by paying, the Polytechnic University ofBucharest park, where there is a "passage" through a cut fence.This is the second Militari construction site of Pitesti-basedConarg, where around 850 apartments should be built. Works arecarried out in small steps, though. Conarg announced they wouldresume works for Quadra 2, but gave no details on the date thefirst apartments will be finalised at. After Pipera, Militari wasone of Bucharest's most bustling districts in terms of real estateactivity, but the crisis upset housing and office space developers'plans here, too.

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