Queens district: leading the charge with carbon-neutral offices and renewable energy

Creating long-lasting projects that uplift lives and communities is embedded into Speedwell’s DNA. As one of Romania’s most active real estate developers, Speedwell has spent a decade crafting projects that set the bar for environmental and sustainability standards. Each development seamlessly blends into the urban fabric, fostering vibrant, thriving communities where residents can feel a deep sense of belonging and connection.

The office segment is going through a difficult period, mostly influenced by market changes and the price per sqm, which remains the main factor for tenants. There is currently a downward trend in new supply, which will continue over the next year. The Barbu Vacarescu-Floreasca district, one of the most attractive areas for companies in Bucharest and the second largest after Centre-West, with almost 600,000 sqm of modern office stock, is facing a significant challenge. Despite its attractiveness, no new offices are due for delivery in the next two years, while the existing stock, especially along Pipera Road, consists of 10-15-year-old buildings. There is also a scarcity of new developments in the area that upon delivery are ready for the mandatory 2030 sustainability and energy efficiency criteria, with only a few notable exceptions. At a time when sustainability is becoming a decisive factor for the future of real estate, Speedwell’s newest mixed-use project, QUEENS District, whose construction will begin this fall, is positioning itself as a pioneer as it will be one of the first new carbon-neutral buildings in Romania. It not only meets the 2030 requirements but is well ahead of trends, and its completion in 2027 will be a boost for the office market in the Floreasca-Barbu Vacarescu area.

Sustainable rental means energy efficiency, functional design, and low maintenance costs. Although sustainability is not yet the main reason for relocation, the trend is very much on tenants’ agendas, with most having net zero carbon targets for 2030. QUEENS District stands out as one of the first zero-carbon office buildings in Romania, which is essential in an area dominated by office buildings that are over ten years old. The project provides a comprehensive solution for living, working, shopping, and leisure. It integrates easy access to the corporate hub with relaxation spaces, green areas, modern amenities, and high-quality apartments, enhancing residents’ lifestyles. QUEENS will create a vibrant district that seamlessly blends into the existing neighbourhood,” says Jan Demeyere, Co-Founder & Partner at Speedwell

With a generous GLA of 23,000 sqm of Class A office space and modern amenities, QUEENS District offers a strategic advantage to companies looking to reduce operating costs as it is designed to provide up to 40% lower utility costs than the typical market standard. Operating with zero-carbon and green energy, the project is significantly reducing both environmental impact and monthly tenant expenses.