During the Future of Development panel held at CEDER 2024, one of the subjects touched upon by the participants was the developers’ relationship with the authorities.
Marius Barbu, Group Asset Director at NEPI Rockcastle, expressed his view that in order to have very good development “we need the authorities on our side”, which is a prominent problem in Romania, because the communication with the authorities is faulty. He said: “[Like this] we cannot do a mixed-use development. If you look very small on your plot yeah, okay, you can, but if you want to do a real development, you need the partner. Without (…) good support from the city, you cannot do real good things. I mean, sustainable, integrated with the flow of traffic.”
Geo Margescu, Co-Founder and CEO of Forte Partners, explained that he believed advocating for mixed-use projects is only an immediate solution: “The most important thing we have to advocate for, especially for Bucharest, [is] to have a new general urbanistic plan. I think this is the solution going forward, looking forward to the future, to the future of the city.” He expressed his hope that the new PUG for Bucharest would be approved soon, despite having doubts on the matter.
Silviu Stratulat, Managing Partner of Stratulat Albulescu Attorneys at Law, confirmed the necessity of the stakeholders to advocate for change in the urbanistic law: “I think any changes in legislation have to be driven by the stakeholders in that development sector.
So absolutely all the real estate associations, lobbying your best actually to change.” He added: “But unfortunately, the most significant role in passing the Bucharest PUG is played by the mayor of Bucharest and the city hall of Bucharest. They have a significant, and a leader right and (…) the most relevant contribution to the formal steps that the plan has to (…) go through until it’s passed. (…) I think even when that plan would be ready, it will see a lot of challenges, a lot of (…) pushback.”
