As for the unified construction and urbanization legislation, a project in this regard has been on the MDRAP agenda for some time. On March 13, 2018, the draft Government Decision passed for the adoption of the preliminary theses of the "Territorial Planning, Urbanism and Construction Code" project, exactly ten years after the initiation of the first such project - the Construction Code in March 2008, by the State Building Inspectorate at that time.
"This initiative is more than welcomed by the majority of the actors in the field. We hope that it will not be for a decade to adopt such a code by the Romanian Parliament", says Roxana Dudau.
With regard to public-private cooperation, a clearer and more transparent legal framework would improve the authorities' cooperation with investors, the lawyer from Noerr considers. "We must be aware that each new building has an impact on the neighborhood in which it will be built. Both authorities and private companies need to be sensitized in the sense of urban planning and co-operation".
Investment vehicles in real estate need to be created with funds from private investors and to enjoy a special tax regime, based on the model of real estate investment trusts existing in other European countries.
The first such attempt belongs to OTP Bank, which this autumn has created OTP Real Estate & Construction, a fund dedicated to retail and institutional clients wishing to invest in real estate.
All new buildings for which the building permit will be issued as of December 31, 2020 must be near zero energy buildings in accordance with the Building Performance of Buildings Directive (implemented in Romania by Law 372 / 2005 on the energy performance of buildings). (source: wall-street.ro)