"Bucharest One will have a built area of 48,732 sq. m, more than 24 floors respectively. After completion, this will be the second tallest building in Bucharest. The project is located in Northern Bucharest. Currently there are works in the area for the infrastructure improvement. The project has obtained the necessary permits for starting the construction, which is scheduled for the first months of 2014, to be completed in third quarter of 2015", a press release of Globalworth Real Estate Investments informs, a vehicle founded by the Greek businessman this year.

The activity of Porsche Aviatiei, in the proximity of Aurel Vlaicu metro station was relocated to P Porsche Nord showroom, the German group deciding to sell the 10,000 sq. m land to Papalekas in a transaction estimated to approx. EUR 8 million.

Globalworth Real Estate Investments fund intends to invest approx. EUR 60 million in the project. According to a previous announcement of the investment fund, EUR 50-55 million of the investment would represent attracted sources. The fund also announced in September that had reached the terms of an agreement regarding the project’s financing with a European bank, but there were no other information made public on the subject ever since, according to Mediafax. (source: dailybusiness.ro)