Globalworth pays EUR 16 mln for land in Bucharest’s Central Business District

Real estate investment fund Globalworth has acquired two pieces of land around the Gara Herastrau/Barbu Vacarescu area, presented by developers as the new Central Business District of Bucharest.

One of the lands is located between Globalworth Plaza and Green Court B, while the second one is placed near the Green Court office complex.

Globalworth paid around EUR 16 million for the lands where the company aims to develop a 40,000 square meters’ project, mainly for offices.

“The acquisition announced today represents an important step for the continuation of our mission, of positioning Globalworth as the most important investor in the regional market for office buildings and as the partner that high quality tenants in the region need,” said Dimitris Raptis, deputy CEO and CIO of the investment company.

Globalworth’s portfolio stands at over EUR 1 billion. The company is the largest office investor in Romania. Globalworth also controls 72 percent of Griffin Premium RE, the real estate investment company active on the Polish market.