Strabag to build new office for PPF Real Estate in Bucharest

Business Forum

2 September, 2024 at 11:49 AM

The Romanian unit of Strabag has been selected as generator contractor for the construction of a new office building for PPF Real Estate in Bucharest.

The planned ARC office building will have a leasable area of 30,000 sqm and will expand the company's office portfolio in the city that already includes two projects.

Juraj Šaštinský, PPF Real Estate's Investment Director, said he is confident that the new project will be among top-notch office spaces in Bucharest and Romania.

The building will meet sustainability criteria and is slated for completion in 2026, according to the developer.

PPF Real Estate develops and manages commercial and residential projects across several markets in Europe and the US.

Globalworth starts new office development in Bucharest

Globalworth Romania has begun construction of Green Court D, the fourth building in the Green Court complex in Bucharest's Aurel Vlaicu area. The project is scheduled for completion in 2027 and is currently in the preliminary construction stage involving enclosure and basement excavations.

Real estate

FDI in Romanian real estate triples in past decade

Foreign direct investments (FDI) in Romania's real estate and construction sector more than tripled between 2014 and 2024, increasing by €15.1 billion to reach €21.6 billion by the end of last year. The sector's share of total FDI stock rose from 10.6% to 17.3%, according to National Bank of Romania (BNR) data analyzed by Cushman & Wakefield Echinox.

Real estate

PPF Real Estate on track to complete new Bucharest offices in 2026

PPF Real Estate has completed the infrastructure works for ARC, its new office project in Bucharest where it is investing €70 million. 

Real estate

Solida Capital makes first acquisition in Romania

Property investor and asset manager Solida Capital has purchased the office project Victoria Center in Bucharest from Manova Partners, marking its first transaction in Romania and strategic expansion into CEE. The deal value was not made public.

Real estate

Bucharest office leasing down 20% in 2024

Bucharest recorded a 20% decline in office leasing, to 339,000 sqm, in 2024, compared to the previous year, although it remained above the five-year average, according to a Colliers report.

Real estate

Return to office mandates to boost demand for new spaces

Vlad Săftoiu, Head of Research Cushman & Wakefield Echinox, talked to Property Forum about the demand trends in the Romanian office market and the outlook for industrial and retail investments in 2025.

Real estate

IWG opens new coworking space in Bucharest

IWG is opening a new coworking location under the Spaces brand in Bucharest-based Vastint Business Garden building that will focus on hybrid work demand.