Vastint purchases 48 Ha land plot in Sector 1, Bucharest

Vastint Romania has acquired a 48 Ha site in the Sisesti area, in close proximity to the Straulesti terminal, with a subway station and park-and-ride facilities. Baneasa Shopping City – one of the largest commercial centres in the country, Baneasa Forest and Otopeni Airport are close by.

Located at 194 Gheorghe Ionescu Sisesti Road, less than half an hour ride from Victoriei Square, the plot is set in green, quiet surroundings, with a variety of convenient amenities such as shopping centres and various public transport connections. An ongoing project for Sector 1 and the Straulesti area is the realisation of an integrated transport system, complete with subway station, busses and mini-busses, as well as park-and-ride facilities. The site offers easy exit towards the North of the capital, as well as access to Baneasa and Otopeni airports.

“This is a major step for Vastint Romania. The transaction represents a strategic long-term investment, with a view to develop a mixed use, primarily residential development. During the coming period we will start working with the urban planning.” says Antoniu Panait, Managing Director, Vastint Romania S.R.L.

“The investment aims at the revitalisation of the site in line with Vastint’s goal to create long-term value. Our wish is to contribute to Bucharest’s balanced growth by creating a self-sufficient, sustainable and comfortable living environment, complete with facilities to serve the community in Bucharest Sector 1.”

Vastint Romania already has two major developments in Bucharest: Timpuri Noi Square, located in district 3, with up to 100,000 m² of class A office and retail as well as 50,000 m² residential space planned, and Business Garden Bucharest, located in district 6, that will bring up to 41,000 m² of class A office and retail space to the market.