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Romania : ROMANIA to set up two underground parking lots in the center of BUCHAREST
Publish Date : 25-May-2016
Plans are afoot to set up a pair of underground parking lots in Bucharest in public-private partnership (PPP) model, with EUR 17 million in investment.
Together, these parking lots, to be built in the center of the capital city of Romania, will be capable of accommodating a minimum of 495 vehicles.
The planned underground parking lot in the Dorobanti Square will entail a cost of EUR 8 million, while the Cismigiu Park project will involve an investment of EUR 9 million.
Under the PPP model-based projects, private investors will invest and operate the parking lots via concession contracts, comprising 2 years for design and construction, with the operation term of 47 years.
Though the strategy to construct the two-level parking lots has been charted earlier, the Bucharest City Hall just in 2016 has published the plan notices in the Electronic Public Procurement System SEAP.
