Voluntari area returns to the attention of developers

Though many residential or office projects developers have overlooked Pipera after the year 2009 because of underdeveloped infrastructure, the area returns to their attention and is currently supported by the new offices built in Barbu Văcărescu and Dimitrie Pompeiu. Pipera is currently becoming a true extension of Floreasca - Barbu Văcărescu business district. Almost 11,000 houses are under construction or are to be built on Pipera Boulevard, both in Bucarest and Voluntari proximity.

Ziarul Finanicar covers an analysis of the growing interest in the Pipera area. One United Properties bought the North Gate offices two years ago – now functioning as One North Gate – and the developer has moved in this year. The business publication notices that there is a growing demand for offices in the area from companies that value the generous parking spaces of the buildings in the area, as well as the proximity to the airport and their clients or suppliers. This trend can be noticed in the vacancy rate that has already fallen below 30%, from the levels of 60-65% post-crisis.

At the same time, the northern area of Bucharest is still waiting for new infrastructure projects as commuting becomes more and more difficult. Developers seem to rely on this "problem" and want to attract customers from the 80,000 - 100,000 employees who already work in the area and would be willing to move closer to their workspace. Lifestyle changes, developers have already noticed that and some of them bet on restoring investments in Pipera area.

More details here.