P3 will add a hostel and retail space to its existing P3 Bucharest Park development, located on the A1 motorway, creating the first mixed-use project on the Romanian market.
In the first stage, the multifunctional project will include a hostel with a capacity of 212 beds, a 200-seat canteen, a supermarket and a café. The project envisages the expansion of accommodation capacity and the addition of new services for tenants according to their requests, including a medical centre, courier services, an ATM and dry cleaning.
“With an unemployment rate of 1.3 percent, the availability of staff from Bucharest and in the surrounding areas is becoming an increasingly acute limitation felt by our tenants as well. In order to cover the need for staff, some tenants have been transporting their employees for long distances of up to 100 km daily. In order to improve the labour force, we have decided to develop this accommodation facility in P3 Bucharest A1 Park for the benefit of both our current and future tenants,” Sînziana Pardhan, Managing Director of P3 Romania explained.
Pop & Partners advised P3 throughout the negotiation and signing of the contracts for this project.
