Hercesa sells 13,000 sq m plot of land near Carrefour Orhideea

Newsroom 18/12/2014 | 11:27

Spanish developer Hercesa signed a deal Thursday for the sale of a 12,700 square meters terrain to a joint venture formed by Primavera Development and Forte Partners.

The land is located in the western part of Bucharest, near Carrefour Orhideea. The buyers want to devleop a mixed project on the premises, which will include both retail and office components. Negotiations for the sale started in November 2013.

“After a while in which the market for land deals suffered a significant impasse and after all the positive signals lately, this is one of the deals that is bound to send encouraging signs on the market – it is one of the biggest land deals to close in the last two years in Bucharest”, said Codrin Matei, managing partner, Crosspoint Investment Banking & Real Estate.

Matei added that 2014 marks a turn in the sense that more and more investors seem interested to purchase land.

“Regarding the existing offers, 2014 has been a good year for those investors that already prepared their infrastructure for future developments”, Matei added.

“We’ve placed this investment at a time when the real estate market is showing recovery signs and the area presents great potential, still unexplored – it is an area that has yet to receive big investments and we are seeing in it a great opportunity to develop projects”, said Daniel Tanasoiu, owner of Primavera Development.