Bog'art eis one of the biggest construction companies in Romania. Its projects include Tower Center International, Charles de Gaulle Plaza and City Gate.
Globalworth completed the acquisition of Bucharest One in December 2013 and plans to complete the project in the third quarter of 2015, Mediafax writes.
Bucharest One will have a built area of 48,732 sq. m and more than 24 floors. This will be, upon its completion, the second tallest building in Bucharest.
The project is located in Northern Bucharest, where currently infrastructure improvement works are ongoing. The project has received the necessary permits for the construction, scheduled to start in the first months of 2014.
Globalworth Real Estate Investments plans to invest approx. EUR 60 million in the project. According to previous information, EUR 50-55 million of the investment would represent attracted sources.
The fund owns 7 real estate projects in Bucharest, being listed on the secondary market in London, where it succeeded to attract EUR 53 million.
The projects include the office buildings Tower Center in Piata Victoriei from Bucharest and City Offices (former City Mall), the UpGround complex in Pipera, a logistic project in Timisoara and three lands in Northern Bucharest where it will develop office buildings. The total value of the assets owned by the investment fund is near half billion Euros. (source: dailybusiness.ro)