The north of Bucharest continues to be developed

According to the Colliers Residential Division studies, the north of Bucharest is the fastest developing area until the present. A high number of real estate projects are already being developed or have been announced for the next years, and the authorities have announced the improvement of the infrastructure.

The Odai Area has a very high growth potential and is enjoying a growing interest from the developers. In the last period the interest for the land in this area has grown considerably, since 2004 up to now the land price per square meter increasing up to 20 times.

The entire area has a surface of almost 100 hectares, almost all the plots of land being already sold, either for future real estate developments, or for future profit, due to the spectacular price increase.

Year	2004	2005	2006	2007	2008*
Average land price (Euro/sq m)	20	50	125	375	475

*figure estimated by the Colliers Land Division consultants

The general urban plan for this area contains a CUT (land usage percentage) of maximum 2.5 for the immediate vicinity of the forest, allowing only the construction of villas, and of 3.5 for the rest of the area, permitting also buildings with a height regime of maximum GF+4F+Loft.

Regarding the infrastructure, numerous projects have been announced both for the northern area in general as well as for this area in particular. Currently, all the passage ways between Baneasa and Otopeni are working and are helping to ease the traffic on the National Road 1. In addition, the street light from the National Road 1 and Privighetorilor Street has been taken out of use, the vehicles now using the roundabout under the new passage way. Thus, the drivers coming from the Pipera area have to turn right. The National Road 1 is presently being enlarged up to 6 lanes. Also the northern part of the Odai Road will be enlarged up to 4 lanes and will be finalized - according to plans - in 2 years time. The Road will connect the National Road 1 to the Highway Bucuresti - Pitesti and to the Sun Highway going to Constanta. This part of the road is 52 kilometers long and the construction works will be done by three companies. The authorities have already approved the technical - economical indicators for the modernization of the eastern and western parts of the Ring Road and are hoping that in 4 years time the entire road will be finalized.

In addition, the PUZ (area plan) for the Odai area stipulates the construction of a 4 lanes road that is to connect the Odai Road to the Jandarmeriei Road, facilitating the access for the residents of the FeliCity residential complex that is being built. The main access way to the project, Agatului Road, will also have 4 lanes.

For public transportation, the 304 bus line can be used from the Presei Libere Square to Laromet, and the construction works for a new subway line that will ease the traffic in the northern area will last 7 to 8 years, according to official information.

This entire infrastructure works are being done to serve the existing and future real estate projects. In the northern area there are currently 295,000 sq m of office spaces and another 461,300 sq m are announced in future buildings. Regarding the residential segment, in the northern area alone there are 25 projects for sale, totaling close to 16,600 units. For 2008, another 8 projects have been announced, with a total of 10,000 units. The Odai area will be a residential area, according to the PUZ. There are at least 5 apartment projects planed here, each having between 80 and 350 apartments, totaling over 1,200 apartments.

The Colliers Residential Division portfolio contains a project located in this area - FeliCity Residentials, recommended to all those that are looking to make a smart investment. Cristina Cojocariu, Colliers Residential Consultant, sees this project as "the chance given to those who are looking for a comfortable home, whose value will increase with every month gone by. It is an area that is just starting to develop and, as a result, the potential is huge. Those who invest now have the chance that those who invested in Pipera 5 years ago or in Cotroceni 10-15 years ago had."

The residential compound is 250 m away from the Baneasa forest, with access from Agatului Road. With a height regime of GF+2F+Loft for the first phase and GF+4F+Loft for the next phases, FeliCity is perfectly integrated in the area, offering 536 apartments in the first 3 phases of development, together with facilities as green areas, kindergarten and playgrounds, supermarket, pharmacy, café shop, sport courts and security.

For more information please visit: www.felicity.ro .