Bucharest, December 22, 2020 - River Development, the developer of the two integrated and mixed-use projects - Sema Parc and The Light, launches today the new brand identity for its project - Sema Parc, currently under development. The change of brand image comes as a result of an update of the initial master plan of the Sema Parc project, which retains its main feature of integrated project, with complementary functionalities to a complex urban development, but which proposes a more open and flexible approach to developed spaces. The new concept "In the heart of the community" reaffirms the development ambitions of this large real estate project, aimed at the communities it builds and to which it is addressed.
“"Sema Parc is a unique project in the urban landscape of the capital, which we committed to realize with dedication and courage, 15 years ago. The development idea was born from the strong desire to bring a remarkable change to this extraordinary city. The ambition we had at that time is reaffirmed today by a new energy, which describes in current terms what we do and what is expected of us. We are in a new speed of development that we have proposed for Sema Parc, we have concrete plans for future development and, more than ever, the desire to complete what we started. At a time when the market is transforming, when the ways of working and living have changed, we continue our investments and development in Sema Parc. We understand to contribute to the remodeling of an important area on the map of Bucharest and we strongly believe that our project will become a reference point in time, essential to the community and its needs. "” – says Ion Radulea, founder and CEO of River Development, the developer of the Sema Parc project..
Sema Parc is the largest urban reconversion project in Bucharest, located in the central-western area, in District 6. The project, whose masterplan was initially announced in 2006, has undergone a recent update and involves integrated development and functionality multiples of an area of almost 41 ha. The development of the Sema Parc project envisages constructions totaling almost one million square meters (total developed area) and has as functionalities: a business center represented by class A office buildings of 526,800 sqm (total developed area), a commercial area - shopping village - represented by buildings with mixed functionalities - retail, office and apartments, with an area of 93,500 sqm (total area) and a residential area, represented by buildings of medium height (4-8 floors) and high (25 floors) in area total of 305,200 sqm. Up to present, 22% of the entire business center area has been developed, represented by the Riverplace buildings (currently in the portfolio of another investor), the buildings in operation - Berlin, Paris, Brussels, as well as the buildings under construction - London and Oslo.
The entire development involves the phased construction of each of the functions and will extend as an investment for the next 10 years. The value of the entire investment will amount to approx. 2 billion euros and will be supported from its own sources, but also from bank financing or transactions that the company includes as part of its plans for further development.
"Sema Parc is in a different stage from the moment of its launch, and the new positioning reflects the whole essence of the development that we have in mind from now on. We are located in the heart of the city and, by the nature of what we do, we have the quality, but also the responsibility to create communities. Whether we are talking about the growing business community in Sema Parc, about the future residential community or about the one that is organically created after the end of the work schedule, Sema Parc is in the heart of the community. For all those to whom it is addressed, Sema Parc offers and will offer an attractive and coherent urban experience. Starting in next year, the new Sema Parc logo will be found in every point of interaction with the brand and we aim to become more visible online and to offer a digital experience to those who will choose their office space or apartment here"”, says Ingrid Baltaretu, the new PR and Communication Director of the developer River Development.
About River Development
River Development is a real estate developer with Romanian capital, with activity for over 15 years on the local market, supported by a team of professionals with extensive experience in planning, developing and managing large real estate projects. River Development develops the real estate projects Sema Parc (located on Splaiul Independentei - approx. 1,000,000 sqm GBA) and The Light (located on Iuliu Maniu Boulevard, approx. 150,000 sqm GBA), both located in the central western area of the capital and in different stages of development.
River Develoment has over 150,000 sq m of office space in its portfolio and has delivered in the last two years over 38,000 square meters of new class A buildings, within the Sema Parc project, through the three class A buildings - Brussels, Paris and Berlin.
London and Oslo buildings with delivery in Q4 2021 will add another 31,500 sqm (GLA) of class A offices within the Sema Parc project.
As part of its second portfolio project - The Light, River Development has already delivered the first phase - The Light One, a Class A office building with a leasable area of 21,653 sqm.
All recently developed or under construction projects comply with BREEAM standards for green buildings and target for the "Outstanding" rating.
