Bucharest City Hall wants to pay around EUR 28 million to expropriate owners of land near the Fabrica de Glucoza street in the Romanian capital city.

The biggest bulk of the expropriation money will go to three owners, business people Saadati Sohi Manochehr, Tanţi Virginica Dumitrescu and Adrian Ciorobea.

The city hall will expropriate 42 properties near the street that will be expanded to a total area of 43,277 sqm.

The smallest land plot is 10 sqm and the largest is, 8,700 sqm, the latter plot belongs to businessman Saadati Sohi Manochehr, who is set to receive EUR 9.4 million for his piece of land.

The two other business people Tanţi Virginica Dumitrescu and Adrian Ciorobea will receive over EUR 9.2 million, as they own 16 pieces of land with an area of 19,500 sqm.

Other owners who will receive money via the expropriation include companies Apolodor, which has a 1,500 sqm plot and will get EUR 600,000, and Metav with 3,000 sqm for which EUR 1.4 million will be paid.

Should the Bucharest council approve the expropriation, the money will be paid in 90 days.

According to the municipality, the plot evaluation was made based on documents from the land owners, but the municipality too will make inspections on site and may change expropriation values.

editor@romania-insider.com