The focus in this urban development area will be on mixed-use developments. In addition to residential constructions, local amenities (supermarket and other daily supplies), office buildings and hotels with a gross floor area above ground of around 247,000 m² will be implemented.

Between December 2007 and summer 2008 Raiffeisen evolution bought approx. 79,000 m² of land in the Străuleşti district, located in the north of the Romanian capital Bucharest, mainly from the seller OMV Petrom S.A.

The entire development area comprises 20 hectares of land, at the very centre of which OMV Petrom S.A. is constructing its new headquarters on a 4 hectares plot: Petrom City, a landmark development of in total 100,000 m² for approx. 2,500 employees, which is to be completed by mid-2010.

Raiffeisen evolution’s focus in its urban development area "Străuleşti evolution” will be on mixed-use developments.

In addition to office buildings, commercial and retail space, residential buildings with local amenities (supermarket and other daily supplies) and hotels will be developed. According to the valid zoning plan (PUZ – Plan Urbanistic Zonal), a total gross floor area above ground of almost 247,000 m² could be constructed.

The sites will be developed in construction stages, adapted to eventually changing market conditions.

Master Plan

In October 2008, an architectural ideas competition for the Străuleşti development area was held. The internationally renowned architects Baumschlager-Eberle from Austria emerged as the winner of the competition.

The "Master Plan” concept is widening the main boulevard to a distinctive continuous public space. The central area will be framed by a strong and attractive spine of office and commercial functions. It will define the heart of the development. The building structure behind this spine opens up to the neighbouring area. A hierarchy of main and side routes is displayed. The building structure provides for flexible and separate utilisation. The project has a clear and sustainable concept that will keep its quality, even if future modifications will be necessary.

The draft of the master plan by Baumschlager-Eberle was refined and will be completed in the course of 2010. Following this, the planning of the first stage of construction will start in 2010.

• Gross floor area above ground 247,000 m²
• Commercial use (Office, hotel, retail) 215,000 m²
• Residential use 32,000 m²