Vastint Romania’s construction of offices will expand the offering in Bucharest
Vastint Romania is implementing the second phase of the large-scale Timpuri Noi Square project in Bucharest. This phase includes the construction of offices and the transformation of an outdated location into a modern urban space.
Project features
Work on the second phase of the project began in 2024 and will be completed in 2026. According to the plan, the complex has the following features:
– after completion, the facility will offer a total leasable area of more than 60,000 square meters;
– it includes two new office buildings;
– the second phase will double the available space.
The first phase of Timpuri Noi Square comprises three buildings with a total leasable area of 52,100 square meters. All of the premises are already leased.
The second phase consists of two Class A office buildings. One has eight floors and the other has 15. There are underground parking lots with a total of 690 spaces beneath the buildings. The buildings also offer a wide range of retail space.
A notable feature of the second phase is the 6,000-square-meter food court. It will be the largest in Romania.
Timpuri Noi Square is the first office real estate complex of this scale. Its most distinctive feature is its rejection of fossil fuels. The facility will operate in accordance with nZEB and LEED standards. Renewable energy sources will be used to heat the building. These include 1,700 square meters of solar panels. Additionally, heat pump systems, including air-to-water systems, will be installed in the buildings. Some will be installed on building terraces, and others will operate in a unified system with groundwater. The utility infrastructure will involve the use of 200 geothermal wells in total.
The value of office construction in Bucharest
Timpuri Noi Square is an urban redevelopment project. The project aims to transform the Romanian capital into a modern European city that is comfortable to live and work in. The developer, Vastint, notes the project’s high prospects. One of the company’s key tasks is to obtain the highest level of green certification. This refers to 100 LEED Platinum points, an important characteristic of modern buildings.
Vastint notes that the implementation of the first phase was fraught with a number of difficulties. However, the developer managed to avoid problems in the second phase and start implementation on schedule. Vastint is maintaining a rapid pace of construction in order to complete the facilities on time.
The company recognizes the importance and potential of the Romanian market. The local real estate market is rapidly gaining momentum and attracting foreign investors and developers. For Vastint Romania, Timpuri Noi Square is a flagship project that will strengthen the company’s position in the country. The developer acknowledges the success of the first phase of the complex and hopes for the same outcome in the second phase. The company is already negotiating with potential tenants for the new office space.