The Dâmbovița Center (also named Casa Radio) is an unfinished skyscraper in Bucharest, Romania, near Cotroceni, on the shore of the Dâmbovița River. Casa Radio (meaning Radio House) was erected during the late 1980s by the Communist regime on land that, before the Second World War, was the location of the Bucharest Hippodrome. The building was intended to serve as the National Museum of History (Muzeul Național de Istorie) of the Socialist Republic of Romania.Rodica Danicluc, "Turco-britanicii și-au adus "întăriri" din Olanda și Israel" ("The Turkish-British Partners Have Brought 'Reinforcements' from Holland and Israel") , România Liberă, 17 February 2007. The balcony (which no longer exists) of the unfinished building facing Știrbei Vodă Street was used by the Romanian dictator Nicolae Ceaușescu on 23 August 1989 to watch the festivities marking Romania's National Day. It was the last Communist-style parade in Romania.
Reimagination The Romanian government contracted the construction of a hotel and mall called "Dâmbovița Center" to the Turkish company Cenk Vefa Kucuk. The project was supposed to be a $275 million investment and the largest multipurpose complex in the region. It was supposed to build a 300-room hotel, 69,000 m2 of retail space, 16,000 m2 of offices, 45,000 m2 of commercial galleries and a residential complex designed to include 200 apartments, a parking lot, restaurants and a hospital. The government, which provided the building, would receive 10% of the income.
The government canceled the contract in 2005 Jurnalul Naţional, "Casa Radio - Contractul va fi reziliat" ("Radio House - The contract will be canceled") due to irregularities surrounding the auction, the company, and financing. Jurnalul Naţional, "Dâmbovița center, un proiect cu multe semne de intrebare ("Dâmbovița Center, a project with many question marks") by László Borbély, November 14, 2005 The company stated it would sue to recover the money already invested. Jurnalul Național, "Casa Radio va ajunge la Londra" ("Radio House goes to London") , November 14, 2005
In the winter of 2006, a public-private partnership agreement between Elbit Medical Imaging, an Israeli company, and the Romanian government was announced for the development of Casa Radio.MSN Money, "Elbit Medical Imaging Ltd. Announces Plaza Centers N.V. Receives Final Approval for Mega Project in Bucharest" , November 30, 2006 The Romanian Government would remain a 15% partner in the scheme. Construction began in June 2007, after a decision to demolish 70% of the initial building,Evenimentul Zilei, "The Radio House, demolished ", June 7, 2007 keeping only the façade and the structural framework.
The new project consisted of a mall of , a five star hotel with 320 rooms, a residential area with 300 apartments and three office towers of 26, 30 and 34 floors, with the last tower having .
Plaza Centers, the developer of Casa Radio in Bucharest, entered judicial reorganization in 2013 under the protection of the Dutch bankruptcy law, the Israeli investor Mordechay Zisser announced. Plaza Centers intended to invest in Romania in projects with a total value of nearly EUR 2 billion, the largest of projects being Dâmbovița Center, built on the platform of Casa Radio. In July 2014, Plaza Centers successfully completed debt restructuring and emerged from reorganization proceeding, and after 2014 it sold Kragujevac Plaza in Serbia and a shopping center in India.
The development of Casa Radio comprises approximately of built area, including a GLA shopping mall and indoor leisure center, approximately GBA of offices, hotel complex with conference center and underground car parking spaces. The Company Plaza Centers expected to complete the first phase of the project, which includes the shopping center, parking and PAB, in 2017.
References
External links Plaza Centers redevelopment