News Article Bucharest investment Nicușor Dan residential Romania urban planning
by Property Forum | Report

Bucharest's Mayor Nicușor Dan said that the city needs a “correct urban development”, while the permitting process for property investments will be updated to include tougher criteria that have to be met by developers.

The mayor went on to say that he will propose the “rejection in the General Council of the Capital of urban planning documents that breach the law.”

“We will be clear and transparent with investors in the real estate sector, we will rigorously specify the criteria that will have to be met, we will require compliance with the law and the reworking of urban planning documents where necessary, we will ask investors concretely, in writing, to participate, together with the municipality, in the creation of road, social or environmental infrastructure in the areas they want to develop in terms of real estate,” said Dan in a press conference.

Some of the irregularities reported in the documents submitted by residential developers refer to the regulated heights of buildings and the insufficient surface of green spaces.

Bucharest has recorded a boom in residential developments in the past few years, but few investments have included facilities of the likes of schools, kindergartens and other types of infrastructure built in partnership with local authorities.