Saturday, 24 May 2025
Vastint Romania announces the official launching of the second phase of its flagship real estate office complex, Timpuri Noi Square, a significant urban regeneration project for the Timpuri Noi area in Bucharest.
The additional area of the Timpuri Noi Square 2 will total an estimated GLA of more than 60,000 sqm and will include two new office buildings, resulting in a doubling of the available office and commercial spaces within the Timpuri Noi Square complex, up to 112,000 sqm of GLA. The 3 buildings in the first phase of Timpuri Noi Square, with a total rentable area of 52,100 sqm, are now 100% leased, among the tenants being Playtika, Ayvens, Radio AG (Kiss FM, Magic FM and Rock FM), Fratelli, Zitec, Bolt, Go Pro, Vola.
The construction works for the second phase have begun last year and they are progressing according to the schedule, so that the planned time frame of delivery, Q4 2026, will be respected. Phase two of the project is composed by two A class buildings, with 8 and 15 floors, which benefit from additional 690 underground parking spaces and a wide range of retail spaces. Also, phase two will host the largest food hall in an office building in Romania, with an area of nearly 6,000 sqm.
“After the success of the first phase, we are excited to announce today the official launching of the second phase of Timpuri Noi Square, an urban regeneration project of significant importance, for which we aim to achieve the highest level of green certification, more than 100 points LEED Platinum, continuing Vastint Romania’s tradition of promoting sustainability across our portfolio. Despite multiple challenges, we managed to maintain a fast rythm of the construction works, with over 1,000 persons engaged in the project until the delivery, which reflects Vastint Romania’s commitment to generating substantial employment opportunities. Romania is a very important market for Vastint and we are proud of the steady track record and performances we achieved here, which make us very confident in the success of our future investments. We already have discussions with tenants interested in having an office in the new buildings”, stated Antoniu Panait, Managing Director of Vastint Romania.
The second phase of the Timpuri Noi Square project is designed and set to be executed according to the latest nZEB and LEED standards. Renewable sources will be used for heating the buildings, such as 1,700 square meters of photovoltaic panels and 2 heat pump systems, some of which are air-to-water systems to be installed on terraces, and others are ground-source systems that will utilize 200 geothermal wells. Therefore, the utilization of gases was entirely removed.
The phase two of Timpuri Noi Square brings New Tales, a contemporary food hall concept and a first for the local market. Spanning nearly 6,000 sqm across two levels, the space will feature a generous common area alongside a curated mix of commercial units.
By the end of this year, phase one will expand with the launch of a fully equipped, conference center with a surface of 400 sqm inside and an exclusive terrace of 300 sqm, adding even more versatility to the range of services available on site.
