Professor Tiberiu Florascu, the Head of Romania’s Bucharest Master-planning Committee is attending MIPIM 2018 in Cannes as a delegate to launch the city’s 1m sq metre GREEN SATELLITE mixed use sustainable development project as a major expansion zone on the north side of Bucharest, and to meet potential development partners for the project.
The site which is close to the American School of Bucharest and on the Bucharest ring road is in single ownership. The complex is designed to accommodate:
200.000 sq metres of commerce – including shopping malls, cinemas, cafes and restaurants
100.000 sq metres of offices
600.000 sq metres of apartments
More than 40.000 sq metres dedicated to community buildings – medical services, spa, health & fitness facilities, an indoor swimming pool, kindergartens, public services
20.000 sq metres of green areas
40.000 sq metres dedicated to leisure, entertainment and arts
Parking lots are located along the border streets and more than 25.000 sq metres of car parks are in multistore garage buildings
The 21.000 sq metre pedestrian boulevard represents the green spine of the entire complex
Professor Florascu, says: “The GREEN SATELLITE is the main engine for urban development in this important area of the city. It is well connected with the centre of Bucharest by the ring road, public transport lines and a possible extension of the metro line north from Pipera Station.
“The GREEN SATELLITE will be an inspired fusion of contemporary design, a new urban hub for professional and family housing, and an active business community set exclusively between two forests set in 2,600 hectares of beautiful landscaping,” Professor Florascu adds.
According to the world economic outlook, in 2018 Romania will have the largest economic growth in Europe. The GDP growth rate in Romania in 2017 is estimated at 6.1% totalling 197Billion euros, showing strong economic growth with significant investment opportunities in real estate and business.
Bucharest is currently one of the densest cities in Europe with a growing population and more than 90% of the total metropolitan population living inside city limits.