“River Development understands its responsibility to transform sites and buildings into experiences at the highest standards of a European capital” – Ion Radulea, CEO River Development.
Published in an exclusive, investment destination – oriented, market tour: “Bucharest – the skyline transformation by 2025” – Read: here
What projects from your strategic portfolio will be finalized in 2021-2023(5) and can be considered an upgrade for the urban structure of the capital?
Our major mixed-use developments – Sema Parc & The Light, both situated in the central-western part of Bucharest are in progress, and our focus is to open them to the community. On the strength of the amplitude of both our real estate developments, but also of their location in the urban context, we are in the middle of the community and a community creator as well. Given the scale of the Sema Parc project, it is likely that in the next 5 years we will talk about a functional residential area, completed by the first phase of commercial development, both functions being part of the project development master plan, along with the office buildings in different stages of completion. Within the project The Light, after the success of the first office building The Light One, will follow the development of the second office building of class A – The Light Two and the high-end apartment complex – The Light Home.
Which is the height of the towers or of the projects finalized? What position will they occupy in the tallest buildings ranking?
The Sema Parc project is an ongoing development on a very large area. It is, in fact, the largest urban regeneration project in Bucharest, covering an area of almost 41 hectares. The buildings have destination and functionalities that cover all directions of a modern urban development – offices, residential, commercial, social – and in generally they have a low height regime. Exceptions are those buildings located along the land surface, overlooking the Dâmbovița River and which will have accents of height. The residential area will also have three apartment blocks that run on height, with 20-25 levels each. Regarding The Light project, we’ve already launched The Light One, the first phase of the office area on 11 floors, but especially those intended for housing, will aim to offer an impressive view of the Polytechnic Park, through a compound on 18 levels. In the same time, in Sema Parc we have ongoing London & Oslo, two class A office buildings with a height regime of 15 and 5 floors respectively.
Which are the most important technical specifications / features, innovations, facilities and technologies introduced for future proofed buildings? How will they determine the upscaling of the market – country in the CEE region?
As developers, River Development understands its responsibility to transform sites and buildings into experiences at the highest standards of a European capital. For all our buildings we aim for green approach, innovative ways to enhance the quality of environment. For instance, all our already built office buildings – both in Sema Parc and The Light projects, we are certified BREEAM Excellent, and we target for Outstanding qualification. This is not just a trend for us, but a way to recreate and regenerate important parts of the city.
Which are the most important facilities, services, functions – attractions, accessible also to the general public, to the small adjacent communities or features that can represent „mini destinations” for recreative, and urban lifestyle activities? What kind of impact do you estimate for their delivery sub-markets?
Both the Sema Parc and The Light projects are mixed-use developments which means that they propose different and complementary functions from the design phase. Large and green pedestrian areas, places dedicated to social interactions and relaxation are in both masterplans. As community creators we look closely to all needs that our further inhabitants and tenants are interested in. At the large scale we create such places and experiences that will encourage people to live and work in the same adjacency or neighborhood.
Which are your prognosis in terms of real estate development in the capital and new projects until 2025?
Bucharest is still a home to a busy development industry and the sector shown a tremendous resilience in the past for all committed players, both developers and constructors. In the present moment, we continue the opportunity to grow our business, and raise industry standards through the quality of our ongoing projects – Sema Parc & The Light. Leading by example is the best way to present our present and future intentions.
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Published in an exclusive, investment destination – oriented, market tour: “Bucharest – the skyline transformation by 2025” – Read here: http://bit.do/BucharestSkyline2025MPR
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