The Romexpo exhibition center urban plan is the largest in Romania

The Romexpo exhibition center, managed by the Chamber of Commerce and Industry of Romania (CCIR), has finalized its development plan in partnership with Iasi-based entrepreneur Iulian Dascalu. The plan envisions a large-scale multifunctional complex featuring residential units, a mall, offices, hotels, markets, exhibition spaces, museums, and public gardens, designed to be built on a 33-hectare plot owned by the Romanian state.

The total transformation plan for the Romexpo exhibition center in northern Bucharest introduces several premieres. It is set to be the largest real estate project in Bucharest and one of the largest ever realized in Romania, comparable to Iulian Dascalu’s Palas Iasi and Iulius Town Timisoara, which involved investments exceeding 250 million EUR.

The complex involves a built-up area of 230,000 sqm and a total floor area of 1.3 million sqm.

Architects have designed buildings with a height of 179.6 m, equivalent to 41 floors.

The investment beneficiaries intend to develop the largest space for local fresh food producers and traders, a “Fresh Market” type; the largest coworking space in Romania, in partnership with renowned international companies; a conference center associated with a 5-star hotel structure and SPA; state-of-the-art office buildings to attract hundreds of companies and generate over 20,000 jobs; a cultural center including a library, media library, or museum; a public garden; and the largest parking lot in Romania, with over 12,000 spaces and a total floor area of over 420,000 sqm.

The exhibition center will remain in the B pavilions and the central pavilion, but will be complemented by a mall, offices, hotels, and apartment blocks.

“There are a series of conditions dictated by the permits we are yet to obtain. Additionally, work is currently underway on the Zonal Urban Plan (PUZ) for the entire Sector, which might result in different urban coefficients. Through this PUZ, we want to see what conditions the authorities will impose on the project proposed by CCIR and Iulian Dascalu. We hope as many of the proposed elements as possible will be approved. The project, as a general idea, is avant-garde, and the plans are for the future. We hope to get there. Next year, the PUZ should probably be approved by the General City Hall, followed by the authorization of each individual building: for demolition and construction. We continue to have an open collaboration with Iulian Dascalu,” stated Mihai Costris, General Manager of Romexpo.  

In the fall of 2017, Iulian Dascalu signed an agreement with CCIR and Romexpo, committing to develop, at his own cost and under his exclusive ownership, a large-scale mixed-use commercial real estate project.

The entrepreneur’s calculations show that investment in such a complex involves a significant amortization and operation period, exceeding the duration of the free usage right granted by the state to CCIR, which is approximately another 35 years.

Dascalu committed that, if CCIR manages to obtain the actual ownership right over the Romexpo land, he would carry out, at his own expense, the urban plans necessary for the development of the real estate project, plus the permitting and design procedures.

Through two decisions issued by the Nastase Government in 2004, the Romexpo land was transferred from CCIR administration to RA-APPS, with the chamber of commerce receiving the right of free use for a period of 49 years.