Spanish investors are considering the development of golf courses near Bucharest

Mihai-Alexandru Cristea 15/11/2022 | 17:16

Investors from Spain are analyzing the opportunities in the Romanian market and are considering the development of a golf course near Bucharest, according to information from the Association of Spanish Investors in Romania (ASEMER). The realization of such a project would amount to an investment of more than 20 million euros only in terms of landscaping.

 

“Investing in a golf course would not be possible if the possibility of developing real estate projects in the vicinity was not taken into account, with the aim of generating sufficient economic benefits to offset the assumption of the significant costs involved in such a project to investors. From our point of view, the requirements for the development of a golf course are fully met at the moment by Bucharest, which, with over two million inhabitants and a GDP per capita that exceeded the European Union average, is a perfect candidate”, said Emilio Luque Ascanio, president of ASEMER.

Currently, golf enthusiasts in Bucharest have only one option – the Diplomatic Club golf course. It was inaugurated in 1929 by King Ferdinand under the name Country Club and also included in the current Herăstrău park. Today, however, it no longer meets the necessary conditions to be considered a real golf course. Also in the North of the city, at Stejarii Country Club there is a driving range or training area, but there is no space for the game.

“In Bucharest, there is currently no possibility of setting up a golf course, taking into account the significant costs for purchasing the necessary land surfaces. For this type of investment, it is mandatory to have large areas of land. An 18-hole golf course, for example, requires approximately 56 – 70 hectares of land, to which must be added the space allocated for the real estate development project. In this sense, it is absolutely necessary to be able to enjoy the support of local authorities in order to identify possible suitable locations for obtaining the necessary building permits”, added the president of ASEMER.

Golf courses improve the standard of living and economic development of the local communities involved. In addition, they attract direct investment which in turn creates a lot of new opportunities.

In recent decades, the practice of golf has grown in popularity, and the number of golf courses globally has also increased to the same extent. In Spain alone, the number of courses recognized by the Spanish Golf Federation amounts to 424.

Currently, many Romanian golf enthusiasts choose to practice this sport on the Black Sea courses in Bulgaria, but considering the distance from Bucharest, they cannot benefit from constant practice. According to the data of the Romanian Golf Federation, the number of golf players in Romania currently amounts to approximately 1500 people.

The development of a new golf course near Bucharest would raise the quality of services offered in the city to standards similar to those provided by major cities in Western Europe. Such an investment would take several years to complete, according to ASEMER.

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Mihai-Alexandru Cristea | 29/11/2022 | 10:17

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