The former Dâmbovița shoe factory, a prominent landmark in Bucharest, is currently undergoing demolition. This marks the beginning of a significant transformation driven by Vastint, a real estate company known for its large-scale developments and sharing shareholders with the global furniture giant, IKEA.
Vastint acquired the land parcel in two phases, in 2019 and 2023. While the specific details of the new project are pending, an urban certificate from 2009 for the site had previously outlined the potential for constructing residential and office buildings. This suggests the possibility of modern, well-located office and commercial spaces becoming available in the near future, appealing to businesses looking to establish or expand their presence in the city.
Vastint is no stranger to redeveloping former industrial sites in Bucharest. The company successfully transformed land from the defunct Timpuri Noi factory into the multi-functional Timpuri Noi Square project, which includes substantial office and commercial areas and has become a vibrant hub. Their experience with Timpuri Noi Square positions them well to deliver another high-quality development on the Dâmbovița site, potentially offering attractive premises for businesses seeking modern facilities in a strategic location.
As demolition progresses and plans for the new development take shape, the former Dâmbovița factory site is poised to become a key area for commercial real estate activity in Bucharest.
Source: economica.net
