In 2010, Vastint Romania acquired the site of the former Timpuri Noi factory, spanning over 53,000 m2 of land situated in the heart of the city. In 2011, the company also acquired a 20,000 m² plot in the Orhideea area of western Bucharest, later developed into Business Garden Bucharest. In those years, Romania’s real estate market was still recovering from the global financial crisis, with limited new developments and cautious investor activity, as both developers and companies navigated a climate of uncertainty; at the same time, well-located land and high-quality properties began to emerge as attractive long-term opportunities. Back in 2008, Bucharest’s modern office stock stood at around 1 million m², but it has since grown to over 3.5 million m², reflecting the city’s transformation into a mature, diverse, and increasingly experience-driven office market.
Vastint Romania began with a vision and a few well-chosen plots, turning long-term plans into carefully executed developments. Step by step, that vision took shape and became reality, today reflected in two standout office projects (Timpuri Noi Square and Business Garden Bucharest) that have helped redefine how people work in Bucharest. By the beginning of next year, Vastint Romania will own a portfolio of 155,000 m2 GLA office space.
The transformation of the former Timpuri Noi industrial area into a modern and vibrant urban hub has been, for Vastint, one of the most ambitious and rewarding urban regeneration projects in Romania. From the very beginning, the company envisioned the development as a complete ecosystem – with offices, restaurants, green spaces, and leisure areas – a place where people can work, socialize, and live in a balanced rhythm.
The planning started from a deep understanding of current market needs, but also from anticipating how these will evolve in the years ahead. The developer looked at the changing nature of work, the growing demand for energy efficiency, the social impact of the developments, and the technologies that can bring added value.
The result is Timpuri Noi Square, a flagship mixed-use project developed in phases. The first two office buildings, with a combined leasable area of over 31,000 sqm, were completed in 2017, while the third building, adding approximately 21,000 sqm, was delivered in 2019. Together, phase one comprises 52,100 sqm of rentable space and is currently 100% leased, hosting tenants such as Playtika, Ayvens, Radio AG (Kiss FM, Magic FM and Rock FM), Fratelli, Zitec, Bolt, GoPro and Vola. The company decided to extend the first phase with The Venue – a fully equipped conference center featuring 400 sqm of indoor space and an exclusive 300 sqm terrace. The Venue is fully operational starting March 2026, accessible for the tenants as well as for external companies.
The lessons learned from the first phase have proven extremely valuable and are now reflected in Timpuri Noi Square Phase 2: a stronger focus on spatial flexibility, energy efficiency, and design, as well as a constant emphasis on tenant experience.
Timpuri Noi Square Phase 2, set for completion of the structure in Q4 2026 and fully operational in 2027, is currently the largest of the very few office projects under construction in Bucharest. Phase 2 will add 60,000 m² (GLA) and introduce two new office buildings, effectively doubling the available office and retail space within the Timpuri Noi Square complex up to 112,000 m² of GLA. At its core, Timpuri Noi Square Phase 2 represents a natural evolution, a seamless continuation of a successful story, adapted to the evolving expectations of the market and of the people who choose to spend a significant part of their time here.
Phase 2 of Timpuri Noi Square will benefit from additional 690 underground parking spaces and a wide range of retail spaces. Also, it will host the largest multifunctional complex in an office building in Romania, with an area of nearly 6,000 m².
As for the development in progress, Vastint aims to achieve the highest level of green certification, more than 100 points LEED Platinum, continuing the company’s tradition of promoting sustainability across the portfolio. Thus, Phase 2 of the Timpuri Noi Square is an absolute premiere, being the only office project of this scale to eliminate the use of fossil fuels, designed and set to be executed according to the latest nZEB and LEED standards. Renewable sources will be used for heating the buildings, such as 1,700 square meters of photovoltaic panels and 2 heat pump systems, some of which are air-to-water systems to be installed on terraces, and others are ground-source systems that will utilize 200 geothermal wells. Therefore, the utilization of gases was entirely removed.
Vastint’s vision has always been long-term, as the company does not develop projects to respond to short-term trends, but to stand the test of time in terms of quality, sustainability, and relevance for the community. This is why every project is conceived as an integrated development, with a strong focus on urban mix, infrastructure, accessibility, and the experience of the people who will use it.
After 18 years of activity in Romania, Vastint remains committed to the same philosophy: to create spaces that deliver real long-term value for the city, for companies, and most importantly, for the people who bring them to life.