Businessman Nicolae Badea, the former financier of Dinamo Bucharest, with investments in IT, public catering, and real estate, is preparing the documentation for the construction of an extensive real estate complex, including offices, apartments, and an aparthotel, on the site of the building in northern Bucharest that houses the headquarters of his main companies.
The household appliance retailer Relco, owned by Nicolae Badea—which in the past was the sole importer of South Korean Daewoo products in Romania—has obtained the preliminary permits for the demolition of the building located at 15 Fabrica de Glucoză Road, where the offices of Computerland, Romcom Pro, and Microtech Electronic currently operate.
In place of this building, on the plot of approximately 11,000 square meters, Relco is now advancing the construction of a real estate ensemble with buildings that will feature 3 basements, a ground floor, and heights ranging from 2 to 12 floors. The configuration designed for this project includes offices, hundreds of apartments, and an aparthotel.
In recent years, Nicolae Badea sold 9 hectares of the former Griro industrial platform on Calea Griviței and a 5.6-hectare plot in Bucureștii Noi to the Belgian-backed real estate developer Speedwell. Additionally, he sold his shares in Orange Romania.
Nicolae Badea also owns 21.4% of Sphera Franchise Group, the company that manages the franchises for the KFC, Pizza Hut, Pizza Hut Delivery, and Taco Bell restaurant chains in the Romanian, Moldovan, and north-eastern Italian markets.
Frequently Asked Questions
1. What does the new real estate project by Nicolae Badea include?
The project consists of an extensive mixed-use complex featuring office spaces, hundreds of residential apartments, and an aparthotel, with heights reaching up to 12 floors.
2. Where is the new development located?
The development is situated in northern Bucharest at 15 Fabrica de Glucoză Road, on an 11,000-square-meter plot currently housing the Relco headquarters.
3. What other major business interests does Nicolae Badea have?
Nicolae Badea is a significant shareholder (21.4%) in Sphera Franchise Group and has a diverse portfolio covering IT, real estate, and the food service industry.