Bucharest – skyline transformation 2025: The successful mix in real estate

28 decembrie 2020

5 minute citire

“The genetics of Speedwell’s developments are exactly in integrating into the urban tissue and add missing elements to complete the Work/Live/Play mix, therefore we take pride in all our developments and consider them all to be an upgrade for Bucharest’s urban structure”, Didier Balcaen, Co-Founder and CEO at Speedwell.

What projects from your strategic portfolio will be finalized in 2020-2023(5) and can be considered an upgrade for the urban structure of the capital?

In Bucharest, we are currently developing three projects that are going to be finalized between 2020-2023 (5) and we are also planning on purchasing at least 2 new plots in the next year. The developments mentioned before include one A-class office project – MIRO, and two residential projects – THE IVY and TRIAMA Residence. MIRO and THE IVY combine as a mixed-use development thanks to their location – the distance can be completed in just a few minutes by foot. Set up in Northern Bucharest, close to the Băneasa forest, MIRO offers 23,000 m2 of leasable office spaces while THE IVY features 800 residential units.

TRIAMA Residence is the second residential project we are currently building in the capital and we are close to delivering its first phase comprising of 66 apartments, after reaching the “sold out” milestone. We have launched sales for next phase which includes 68 units deliverable at the end of 2022. TRIAMA’s location, close to amenities and public transport, connects it to the existing urban structure but steps up the quality usually delivered in the area. The well-educated buyers of today understand a better product.

Published in an exclusive, investment destination – oriented, market tour: “Bucharest – the skyline transformation by 2025” – Read: here

Any height or size targets, what position will they occupy in the buildings ranking in the capital?

Quality above quantity is Speedwell’s motto, be it vertical or horizontal, size is irrelevant, with the exception of green areas perhaps, a special point of attention in all of our projects. We prefer focusing on the location, concept and on how we can integrate a new building into the existing urban landscape, while adding value to it. Its due to the fact that we care about the end user and aim to add quality to his live be it as an office users, retail tenants or residential buyers, again by mixing all functions and avoid commute. This can be noticed throughout the entire process of development, from the concept design to the materials we are using, and in the result especially.

Which are the most important technical specifications / features, innovations, facilities and technologies introduced for future proofed buildings?

For Speedwell, some of the most important features are the ones that support our clients’ well-being. Be it a residential development or an office one, we strive on designing buildings that create a comfortable environment and we do that through the concept, technologies, and materials we use.

Sustainability is an important part of the process and result for future proofed buildings. We all are responsible for using resources efficiently and developers even more. That is why it is essential to build according to high standards. For instance, two of our projects in Bucharest, MIRO and THE IVY, have been designed to achieve a BREEAM-excellent rating, a certification supporting health and wellbeing through sustainable buildings, while also protecting natural resources. Another certification is represented by WELL, a tool for advancing health and well-being, used at a global level. We are proud to say our office building, MIRO, is one of the first buildings in Romania to achieve both certifications.

Our recently delivered project RECORD PARK in Cluj has also obtained BREEAM Excellent certification for both the commercial (office and leisure) and the residential buildings.

Apart from sustainability and wellbeing, leading to increased use of touchless technology in our buildings and community application, mobility is a key attention point. In partnership with Cegeka, Speedwell has developed the Capacity © platform that will be implemented in all of our projects, starting with RECORD PARK, where it’s already operational. The Capacity technology allows for more cars to park in the parking than there are places, leading to less cars scattered across the sidewalks. In parallel we are also introducing smart delivery boxes into both residential and office compounds, allowing for on-line deliveries without hassle and avoiding courier queues in office lobbies.

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?

Why choose just a few elements from the ones mentioned above? Instead of doing that, we think that having everything one needs in the same development represents an attractive package for those looking for a home or place to work. We believe in the strategy named „transit-oriented development” representing integrated functions and facilities meant to bring people together and connect through activities like working, shopping, relaxing, close to their homes at walking distances between them, and also good transport infrastructure towards other points of interest in the city.

Time has always been an important resource to people and nowadays it has gained an even greater importance. That is why we aim at providing an improved life-work balance by creating mixed-use developments where people can leave their home, go to work, shopping or to the gym and reach their destination in just a few minutes, using their time efficiently. RECORD PARK in Cluj is the perfect example of this idea being turned into reality. The same recipe is being applied for MIRO adn THE IVY in Bucharest and PALTIM in Timisoara.

Which are your prognosis in terms of real estate development in the capital and new projects until 2025? Which are the main recommendations for the central and especially the local administration to support an international identity and create business potential in the new economic paradigm, for Bucharest, in CEE?

The residential segment is going strong and we expect the demand for quality homes to be at least at the same level as in the last few years. On the office side, there might be some changes in the next few years, concerning the balance between working from home and working at the office. Nonetheless, one of our advantages has always been flexibility in designing our projects together with the support we are always showing to our tenants. We are confident in the Romanian market and we are continuing our business, increasing the pipeline of projects every year. The main role of any administration is to be a facilitator, allowing businesses to flourish with limited but clear guidelines that apply to ALL players. This includes facilitating a smooth permitting process, but also implementing public infrastructure projects and on a wider scale, supporting Public Relations cross border. The higher yields compared to other CEE countries is the sole responsibility of the Romanian government, since tenants and products are similar if not better than other countries and capitals. We are looking forward to seeing an administration in action that understands that putting Romania in a better daylight on the world map will benefit everyone.