The land of the former factory was sold by the Tubinox company, in this transaction Negoiță being assisted by the well-known law firm Stratulat Albulescu. Tubinox, a pipe manufacturer, is part of the Indian group Viraj, which is a major global player in the steel market.
The buyer, who is the brother of the mayor of sector 3 Bucharest, where the land is located, plans to develop on this lot located in the eastern part of the city, a large residential complex. This project will add approximately 2,000 apartments to the over 7,000 units developed by Negoiță in the two previous projects in the area of Theodor Pallady Boulevard.
The developer is confident in the potential of the area, being certainly influenced by the success of other projects in the area. Conceived as an entire neighborhood, the new residential complex will thus include at the end no less than 12 blocks with GF + 11 height.
Like the other residential projects, the new residential complex addresses the categories with medium and small budget, the lowest price for a studio being under 40,000 euros. All projects benefit from the proximity of a metro station, either Anghel Saligny, Nicolae Teclu or Republica, in the case of the most recent project.
Although Hils Pallady was designed with an office component of over 2,000 sqm, Negoiță is unlikely to include office space in the new project, given the current situation in the office market, hit hard by the restrictions imposed by the COVID-19 pandemic . (source: