Metropolitan resumes authorization of its premium residential development in Băneasa

by   CIJ News iDesk V
2023-09-21   10:34

Entrepreneurs Robertino Georgescu and Dan Drăgulin, who have developed more than 4,000 apartments under the Metropolitan brand, are resuming the permitting process for a residential project with about 200 premium apartments on land located across the street from the Băneasa Shopping City mall in northern Bucharest.

The two investors had initiated a Zonal Urban Plan for a residential project consisting of 4-5 storey blocks and a small number of duplex apartments on a plot of land of about 7,000 sqm, bought for EUR 1.7 million. The approval process had gone as far as getting the signature of the capital's chief architect, then stalled.

"We have now resumed the approval process, with the idea that when drawing up Bucharest's General Urban Plan, requests for Zonal Urban Plans must also be taken into account. We have a Land Use Coefficient of maximum 2.8 and, according to our calculations, we would be approaching 20,000 sqm built, which is the equivalent of plus-minus 200 apartments. The number of apartments also depends on market conditions at the time of the start of construction," said Robertino Georgescu.