Real Estate Project Worth 40 Million Euro on the Plot of the Former Grivita Brewery

Ionut Dumitrescu, the entrepreneur who bought at the end of last year the land plot of the former Grivita brewery from Bucharest, will build on the plot of 28,000 square meters near Basarab Drive an office project, a commercial center and an entertainment area that will include a beerhouse too. The investment in this project is estimated at some 40 million euro. Dumitrescu, one of the founders of the real estste consultancy company Eurisko, which he sold to CBRE group, has started few weeks ago, along the German group Kaufland, to demolish most of the buildings of the former brewery, bought for about 10 million euro from Heineken group. Three of the buildings – the malt house, the barley house and the administration building – will be kept and preserved, and will house a beerhouse to remind us about the brewery created in 1869 and which brewed beer for 130 years. “These three constructions will house an entertainment area with coffee shops, terraces, restaurants and a beerhouse”, declared the representatives of Element Development group, through which is carried the investment. The project will be developed in three stages and will start with the rehabilitation of the historical buildings, and then will be raised an office building of 27,000 square meters and a commercial center that will include a Kaufland hypermarket, whose opening might take place at the beginning of 2016. The entertainment area of the project will have about 9,000 square meters.

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