Autovit, the company that manages the largest car fair in Romania, located in the Vitan district of Bucharest, will invest 20 million euros in a Class A 18-storey office building, with approximately 20,000 square metres of available space. Company officials say that they will use 5,000 square metres in the southern part of the site on which the fair is held for the office building. Overall, the site covers a total of 6.7 hectares. "The plans are 70-80% complete, after we changed them to a certain extent because of suspicions that the real estate market might suffer over the next few years. This is how we arrived at the conclusion that in order for the building to be profitable, it needs to be at least 18 storeys high not counting the ground floor," said Liviu Dobrin, manager of Autovit. He added the height limit in the area would allow for a 27-storey building. If the footprint of the building takes up less than one third of the allocated land, the remainder will be utilised for parking and access lanes.
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