The LEED certificate will be granted in the next 12-18 months for Global City Business Park. Global Finance, the owner of the project, estimates that following this certification and the remodelling of the lateral access of the buildings, the occupancy rate of the project will reach 60% by the end of the year and 90% in the next two years.
„In the last 6-9 months we had the busiest period since the beginning of the project by now. This situation was due to the fact that in this period a series of contracts had expired and the companies who used to pay EUR 14-15/sqm/month now are looking at our project, with rents below EUR 10/sqm/month “, has declared Ivana Bozjak, Partener and Head of Real Estate within Global Finance.
Global Finance succeeded in renegotiate all the leases to expire this year, including Coca-Cola – the biggest tenant in the complex.
Even if Romania is an important point on the investment map of the Greek group, there are no plans currently for new local developments yet. Global finance also owes two plots in Bucharest: 28,000 sqm on Calea Floreasca (at Ford halls) and another 67,000 sqm near American School.
For the first plot, the company has a plan for the next period to fit out the halls on 6,000 sqm for retail and entertainment spaces. As for the plot near American School and the one near Global City, both with residential destination, the company do not have medium term plans.
„The residential market recovery depends on the evolution of the European economy. Capital entered in Europe and created a rolling effect that hopefully will make us see an improvement. People are currently precautious and frightens when the first negative news appears. “, has mentioned Ivana Bozjak. (source: capital.ro)
