ZF English

The real estate crisis in Pipera

27.04.2010, 20:16 11

Ziarul Financiar took a walk through Pipera to see the "marks"of the crisis: whereas a year ago the area was a huge constructionsite, with around ten active projects, now works are carried outonly for two projects, and the recently finished office buildingsare rather empty than occupied. Infrastructure is the big problem:microbuses with Petrom or Vodafone signs are outside the buildingsto transport employees to Pipera and Aurel Vlaicu undergroundstations. This is the main reason why company managers most of thetimes say no when a project in the area is presented to them. Rentshave fallen toward 8-10 euros/square metre (half the levels ofdowntown Bucharest), so that investors that earmarked hundreds ofmillion euros for projects in the area are losing millions of eurosmonthly, in the context where authorities have not even built asidewalk on Pipera-Tunari highway or a passenger passageway overthe railway. When will the frozen projects be resumed? Probablywhen employees and lights on will be seen through the windows ofcurrently vacant buildings and money will be invested in at least asidewalk and several curbs on the way to the underground.

Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels

AFACERI DE LA ZERO