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The General Council of Bucharest, CGMB, approved the Zonal Urban Plan, PUZ, for developing Dambovita Center complex.
Representatives of the civil society took part at the meeting and opposed to the project, announcing their plans to address to the court as a result of the decision of CGMB.
The project will include three phases until 2012. The complex will include a commercial area, office spaces and 300 hotel rooms, 5 star classified.
Plaza Centers, owning 75% of Dambovita Center, will carry out the project. The state owns 15%, through the National Company for Investments. The Turkish group Kucuk owns the rest of the shares.
A letter addressed to the CGMB by the Architects Order in Romania, Bucharest branch, shows that the terrain where the project is to be developed is difficult, with high humidity and the constructions will have an impact on the underground water. Theoretically this will lead, among others, to flooding the basements in the region. Moreover, the constructions will significantly reduce the green area near Dambovita, included in the General Urban Plan.
The land and the additional constructions of Dambovita Center were valued at EUR 158 mil. in 2008, 17% less than compared to 2007. The total investment necessary to complete the project reached EUR 927 mil,. according to the latest estimates of King Surge.
Sursa: Daily Business [01.04.2009], Gandul [01.04.2009], Business Standard [31.03.2009], Wall-Street [01.04.2009], Ziarul Financiar [31.03.2009]
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