Ion Radulea, Chairman of River Invest, general developer of the Sema Parc Project in Bucharest, Romania, in an Exclusive Interview for Property Xpress
Sofia, Bulgaria (17 January, 2007, Property Xpress) – “All our future developments will remain in our investment portfolio” Ion Radulea, Chairman of River Invest SA (Romania) reveals in the interview, published in PropertyXpress.com - the new information service covering Europe’s emerging real estate markets.
Sema Parc, regeneration scheme comprising an entire neighborhood, with residential, commercial and office components in the semi-central areas of Bucharest, is a really vast development, and the only real estate project in the Romanian capital that can compete with the other “giant” - Baneasa. Ion Radulea, Chairman of River Invest SA - general developer of Sema Parc, has agreed to talk with PropertyXpress about a number of interesting issues with regard to the Sema Parc project such as: How the whole thing got started? Why the relocation of Semanatoarea plant was inevitable? What is the competitive advantage of the project’s office area? Are River Invest going to enter negotiations for the sale of the other office projects or their plan is different?
The Sema Parc project
The Sema Parc project is located in Central-Western Bucharest; about 5 min drive from the city center and alongside Dambovita River – equipped with a 1 km view of Dambovita quayside. The project has total development area of 43 ha and when completed will provide GLA of 630,000 sq. m on the ground and of 360,000 sq. m underground (underground parking only). Being a mixed-use project, Sema Parc comprises several different though complementing each other development entities: 360,000 sq. m business park, 172,000 sq. m commercial area, and 122,000 sq. m residential area. The total investment volume is expected to exceed EUR 750 mln overt the next 9-10 years.
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Property Xpress is a daily updated electronic publication designed to facilitate the search for reliable and relevant information on the real estate markets in Southeastern Europe and Ukraie.
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