We can strike an urban planning balance in 4-5 years time, says Capitals new chief architect Gheorghe Patrascu

Chaotic constructions phenomenon in Bucharest might continue next year as well due to some real estate projects approved in the past, but in four-five years time we can strike a balance in the urban development, Ziarul financiar daily is quoting Gheorghe Patrascu, the new chief architect of the Capital, as saying.
He stakes on the fact that the Government has passed last month an Emergency Ordinance through which the urban planning law is amended as for derogations from the General Urban Plan (PUG) through the Zonal and Detailed Urban Plan.
„The new ordinance stipulates that derogations could apply to a maximum 20% of the built surface, given that there were some cases when it was applied to 100%”, stressed Patrascu.
„Till now, the real estate market represented an El Dorado, where anyone could build everything it had in mind”, said the Capital’s chief architect.
Patrascu also said that in the western countries a big profit drawn from a real estate investment is of 8-10% and when it reaches 15% this is viewed as a genuine real estate blow.
In exchange, a developer’s profit in Bucharest even hit 100%. At present, on the global financial crisis backdrop, even though the investments profitability rates dropped, they further climbed above the 15% level in Bucharest.

„For another year we will continue to be faced with some anomalies in the urban development, but in some four-five years time a balance will be created, but we need clear regulations”, underlined Patrascu.
In his opinion, in the past years, the real estate investors’ interest has led the city’s urban development, given that there are few cities in Europe that are considered as attractive as Bucharest amongst real estate developers, but the chaotic construction pace needs to stop, the newspaper reads.
„Real estate pressure is an advantage for the city’s development, but we need clear regulations, so that the developer knows precisely what kind of construction could be raised when the land is purchased”, stressed Patrascu.
„I am not against tall buildings, because the city should also grow upwards, but not in the old, historical, center or in areas where the construction of such buildings is not permitted by zoning regulations”, Patrascu said as well.
In the following 2 months, the new chief architect of the Capital plans to finalize a long term strategy for the Capital’s urban development. At present, a sketchy audit is conducted over what had been made up to now.
Gheorghe Patrascu previously held the position of director general of the General Department of Territorial Development with the Ministry for Development, Public Works and Housing and was appointed by the Mayor general Sorin Oprescu as chief architect of the Capital on a 6 month mandate. At the end of that mandate a job competition is to take place, although Patrascu is not sure he is eager to participate.
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