Developer Speedwell and construction services group Strabag have made an official start on the construction works on the mixed-use project Queens District, in northern Bucharest.
Strabag is both the general contractor and the first anchor tenant of Queens District. As part of a long-term lease agreement, Strabag will occupy approximately 4,600 sqm across three floors in Tower A.
The project combines office, residential, retail, and public-access spaces within a single urban development scheduled for delivery in the first quarter of 2028.
The office component will include around 22,500 sqm of leasable office space, while the entire project will exceed 45,000 sqm of built area. The development will also feature 237 residential units, approximately 2,500 sqm of retail and services, landscaped green areas, and a publicly accessible inner courtyard.
The project will include 282 underground parking spaces, electric vehicle charging stations, and smart parking systems, while above-ground circulation will prioritize pedestrian access.
Speedwell has projects in Bucharest and in Cluj, Timișoara, Râmnicu Vâlcea, and Brașov. The company’s portfolio includes approximately 160,000 sqm of office and retail space, over 5,500 apartments, and 23,000 sqm of industrial space, with a total project value estimated at approximately EUR 2 billion euros. Since June 2024, Speedwell has expanded its operations in Poland, targeting a development portfolio to match its Romanian one.
Strabag, a European technology group specializing in construction services, has been operating in the Romanian market since 1991 and established its headquarters in Bucharest in 1994. Currently, it has subsidiaries in all major regions of Romania and operates in all construction sectors, particularly in transportation infrastructure, building construction, and civil engineering, as well as in environmental construction projects. Strabag Romania ended 2023 with a 65% increase in production volume, from EUR 315.46 million in 2022 to EUR 519.26 million. It also recorded a 10% increase in the number of employees, from 1,768 in 2022 to 1,942 employees at the end of last year.
(Photo: the company)
simona@romania-insider.com
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