Constanța goes West

As the city is reaching its maximum limit, Constanța is expanding in the West area, the data gathered by Romania Property Club (RPC) from IMRA Real Estate shows. This trend is confirmed by a large infrastructure investment announced last year by Constanta City Hall: the new Madrid Boulevard, with 4 traffic lanes and sidewalks, will connect Tomis Boulevard in the Boreal area with Aurel Vlaicu Boulevard in the roundabout from VIVO! shopping mall.

“The prices of authorized land in Constanța vary between 225-400 Euro/sqm for mixed-use and retail developments, 55-70 Euro for logistics developments and 350-1,000 Euro/sqm for residential developments, depending on the area” says Lucian Asanachescu, CEO of IMRA Real Estate.

Mixed-Use Developments Read more about The third public educational unit modernized through the România Eficientă program, supported by OMV Petrom read more	PRICE
	Permitted plots	250-400 € /sqm
	Under permitting plots	150-250 € /sqm
	Not permitted plots	45-150 € /sqm

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Currently, the local authorities are working on the introduction of an area of 300 HA on either side of the DN3C into the urban area. Once this project is approved, Aurel Vlaicu boulevard will be no longer the city ring road, this title being taken by DN3 C.

“Once the PUZ for DN3C will be approved and this land will enter the urban area of the Municipality of Constanța, we can talk about the first major urban regeneration project in the last 30 years. This initiative will facilitate the creation of a new municipal park of approximately 30-40 HA (warmly welcomed by the whole community), the building of new commercial spaces, a harmonious development of new residential areas, the integration of new public services (culture, health, education), as well as a significant improvement of urban mobility through the construction of new roads such as Madrid Boulevard (which will connect the VIVO! Shopping Mall area directly with the Boreal-Impact area) and Amsterdam Street (connecting Bd. Tomis – Boreal – Impact area with DN3C and the A4 highway)”, explains Lucian Asanachescu”.

The national extension of Bucharest Real Estate Club (BREC), Romania Property Club (RPC) was established with the aim of promoting sustainable and innovative real estate development, with positive impact, in the major regional centers of the country: Cluj-Napoca, Timișoara, Brașov, Iași and Constanța.

We focus on sustainable, ecological developments that add value to cities. An initiative of regional leaders, Romania Property Club connects developers and the local real estate industry with international funds present in Bucharest and on international markets, with the aim of stimulating the economic potential of regional cities in Romania.

BREC & RPC member companies have portfolios valued at over 10 billion Euros.

More information at www.romaniapropertyclub.ro