- Year: 2010
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Photographs:Andrei Mârgulescu
Text description provided by the architects. One of the most immediate impact of the real estate boom experienced in Spain between the years 2000 and 2007 was the expansion abroad of some major companies which, driven by various factors (such as credited specialization, exhaustion of domestic demand, increase in cost of land acquired within the country and experience in the construction and sale of such assets, among others), and having a good knowledge that certain places are in need of dwellings –in particular the countries of Eastern Europe–, the early years of the century witnessed an outstanding landing of the Spanish real estate business abroad.
Later on, because of the global crisis and the collapse of the real estate bubble, many of these colonizing adventures –in numerous cases, purely speculative operations– were abruptly vanished. However, there were other professionally designed developments rooted in the different nationwide realities which came off strongly, to the point that they became innovative references both for their positive result in the domestic market and for collaborating in the housing policy parallel undertook by local governments. It is the case of this development which the Spanish company Hercesa is erecting in phases in a dense popular area of Bucharest.
