In early 2020, just weeks before Romania declared a state of emergency, a company under the indirect control of Bulgarian real estate magnate Ognian Bozarov achieved a significant breakthrough. It secured key permits for its inaugural project in the Romanian real estate market—a major residential and commercial development near Lake Fundeni and DoamnaGhica Plaza in Bucharest.
First submitted to Bucharest City Hall in 2019, the approved project encompasses four 11-story residential buildings, a technical floor, and substantial underground parking. With a projected surface area of 30,000 square meters, the project now holds the necessary zoning and building approvals, marking Bozarov’s official footprint in Romania’s growing property sector.
5one Residence: A New Vision for Bucharest’s Sector 2
Situated at 51 Baicului Street in Sector 2, the Baicului 5one Residence is designed to contribute to Bucharest’s transformation into a modern European capital. The location is envisioned as a budding business hub—likened to a “La Défense” for Romania, taking inspiration from Paris’s famed financial district.
The development features 307 apartments, offering a range of layouts from studios to spacious 2-, 3-, and 4-room configurations. Above-ground construction will span 30,394 square meters, with a further 428 parking spots—383 of them underground. Covering just under one hectare of land, over 30% of the area will be landscaped green space, ensuring a high standard of living for residents.
The 5one Residence is more than just housing; it’s a mixed-use urban complex. Plans include 2,580 square meters of retail space, a gym, an afterschool center, a supermarket, a medical clinic, and dedicated units for banks and law offices—creating a vibrant, self-contained community.
Strategic Location and Neighborhood Expansion
The site previously housed the Bucharest Radio and Television Cassette Enterprise. Now, it’s set for a major revival. Just nearby, Syrian-Romanian Cultural Club president Abdul Rahman Dardari is launching a separate development—a 100-apartment residential project. Bozarov’s 5one Residence will be a landmark addition to this rapidly changing area.
Market Challenges and Signs of Recovery
When the pandemic hit, Bucharest’s property sector—like much of the world—faced delays and uncertainty. Many projects were shelved, and investor sentiment wavered. But in recent months, the market has bounced back with renewed vigor. Demand for flexible office spaces and modern homes is rising, while low-interest rates continue to fuel buying activity.
In particular, suburban and emerging neighborhoods have seen a surge in residential construction aimed at the growing middle class. Commercial developments are also adapting to new workplace dynamics, favoring flexible, mixed-use configurations.
Bucharest: A Magnet for Real Estate Investment
Romania’s capital is quickly becoming one of Eastern Europe’s most active real estate markets. A wave of large-scale residential, commercial, and mixed-use projects has transformed investor sentiment. International developers and wealthy individuals like Bozarov have taken notice, further validating Bucharest’s investment potential.
Ongoing infrastructure upgrades—new metro lines, improved roadways, and renovated public areas—are increasing the city’s appeal. As these improvements continue, Bucharest is poised to become an even more attractive destination for global investors seeking high-growth opportunities in the region.
Real Estate Transactions Reflect Renewed Momentum
Despite economic headwinds, the Romanian property market has shown resilience. According to the National Agency for Cadastre and Real Estate Advertising, transaction volumes began to recover in July 2019 after a year-long decline. By the end of that year, approximately 540,000 transactions had been registered—a modest 4.1% drop from 2018.
Encouraging signs emerged in January 2020, with more than 35,000 transactions recorded—a 14.6% increase over January 2019. February saw similar momentum, with a 21.5% year-on-year rise in deals.
This growth was driven by a mix of factors: rising demand, favorable lending terms, and a surge of foreign capital from investors in Western Europe and the Middle East. These dynamics are expected to sustain transaction volumes, even as broader economic conditions remain uncertain.
A Market That Refused to Stand Still
Even in March 2020, after the state of emergency was announced, Romania’s property market showed strength. Over 48,000 deals were finalized—an 8.6% increase compared to the same month in 2019. Altogether, Q1 2020 saw a 14.7% uptick in completed transactions compared to the previous year.
Projects like Bozarov’s 5one Residence are key contributors to this ongoing recovery, signaling confidence in the capital’s long-term growth trajectory.
Bucharest’s Next Chapter
Bucharest’s real estate market is in the midst of a transformation, driven by a growing appetite for mixed-use and high-quality developments. The Baicului 5one Residence, backed by seasoned investor Ognian Bozarov, is a strong example of this trend.
As the city modernizes and globalizes, developers both local and international are racing to shape its skyline. With infrastructure upgrades, renewed investor confidence, and a dynamic urban vision, Bucharest is well on its way to becoming a regional powerhouse—and developments like this one are helping pave the way.
