Four years after the acquisition of the land of the former Timpuri Noi factory, IKEA got the construction permit in December last year, have declared for ECONOMICA.NET sources in the real estate market.


Interprime Properties has obtained the construction permit for two buildings of six and respectively ten floors, on December 16th 2013. Contacted by ECONOMICA.NET regarding the plans and investments for this land, the company’s representative has declared that “Interprime Properties activity has a growing dynamics and we could answer your eventual questions in the moment when we would have news.”


Although the permit was obtain in the end of last year, the construction site was not yet organized, the only person present being the guard form the security company.


ECONOMICA.NET sources also stated that IKEA investments in this first phase of the project reach EUR 20 million. The regulations within the Zonal Urban Plan (PUZ) include buildings of 6, 10, 19 and 20 levels. The architects of Westfourth were in charge with the design of the IKEA project on Timpuri Noi plot.


IKEA bought in 2010 the land of the former industrial platform Timpuri Noi, with an area of 51,000 sq. m for EUR 34.6 million. Two years ago, the company announced that the first phase would include office buildings.


Overall the project also includes residential buildings, hotel spaces as well as commercial and services. IKEA also bought in 2011 two hectares of land in the area of Basarab Passage, near Carrefour Orhideea in Bucharest, with EUR 13 million. (source: