Plaza Centers unveils EUR 600m project for Bucharest

Central and Eastern European property developer Plaza Centers said on Tuesday that it plans to extend Dambovita Centers, a 600,000 m² multi-functional project in the heart of Bucharest. The scheme, designed by architect Chapman Taylor, is now forecast to cost up to EUR 600 mln, with an initial investment of EUR 150 mln, the company's CEO Ran Shtarkman said. 'We want to create a genuine emblem for Bucharest and that is why we have gone beyond our initial plans.'

The development will include the so-called Bucharest Wheel, a construction similar to the London Eye, offering visitors a unique panoramic view of the city from a height of 90 meters. The project will also comprise two office towers, the highest reaching some 145 meters, as well as 300 residential units and a Public Authority building, that will be constructed as part of a public-private partnership contract.

The main building will provide over 100,000 m² of commercial areas, as well as a 16-screen cinema, a Fantasypark, spa & fitness, a casino and restaurants, a multifunctional hall, a five-star hotel with 320 rooms and another hotel with 115 apartments. The project will have office space of about 115,000 m2, including the office towers and an integrated development office block in the main building.