ARTICLES LABELLED WITH TAG development

AFI Europe Romania finalised the acquisition of a land plot in Bucharest, in the proximity of AFI Park 1-5 and AFI Cotroceni shopping mall, with a surface of approximately 43,000 sqm, in a transaction worth €23 million.

H&M Romania has leased 1,000 square meters in Unirii View, a 73-meter tall office building in the centre of Bucharest. The fashion retailer will take up a superior floor within Unirii View.

GTC is preparing to build another office building in the Hungarian capital, The Twist – Budapest City Tower. The developer recently obtained the building permit. The new project is located in the 13th district in Budapest, next to the Árpád híd metro station.

GTC Hungary has completed its latest office building in Budapest, GTC White House, which offers 21,500 sqm of Class A space. The developer also plans to launch two new projects in the city.

After delivering the first two office buildings of the Globalworth Campus complex in Bucharest, the developer has started the construction of Tower 3, with a total leasable area of 35,000 sqm. Upon completion, Globalworth Campus will comprise three main office towers offering 92,000 sqm of leasable area and 760 parking spaces, along with green areas and a large conference hall.

AFI Europe Romania broke ground this month on AFI City, the first large-scale residential project to be developed by the company in Romania. TGC was assigned as the general contractor for the first phase of the project.

TriGranit launched the construction of its new Class A office development, Millennium Gardens, which is the final element of the Millennium City Center in Budapest. After its expected completion in 2020, the two-winged office complex, will provide approx. 37,000 sqm GLA and more than 600 parking spaces for tenants, greatly emphasizing today’s employee and tenant needs. In 2018-2019, the company is working on the launch of four office developments in Central Europe. As for its size, Millennium Gardens is one of the biggest office development project in Budapest to be handed over till 2020. Within the coming 12 months, TriGranit plans the start of the construction of 77,000 sqm GLA office space in Central Europe.

Element Industrial, a property developer founded by businessman Ionut Dumitrescu, has recently entered the logistics market by announcing its first project, Eli Park 1 in the Chitila area, west of the Romanian capital. The project will require an investment of €25 million.

Nova Imobiliare announced the €30 million expansion of Colosseum Mall, in the north-western area of Bucharest. Construction is scheduled to start later this year and the inauguration will take place in the first half of 2019.

Prime Kapital, a property developer established by four former top executives of NEPI, will be developing its first residential project in Romania, called Avalon Estate. The 800-unit project, located in northern Bucharest is due for completion in 2024, zf.ro reports.