CA Immo, a developer specialized in office properties in Central European capitals, has started a new office development on the local market next to the Grozavesti metro station which will absorb a total investment of EUR 75 million, the company announced.
The project, Orhideea Towers, located in the Central – West area of Bucharest, will have a total gross leasable area of 37,000 square meters and will include two towers linked together by a bridge enveloped in glass.
The construction has started in October 2015 with special foundation works, for which CA Immo works with Octagon Contracting & Engineering S.A. The entire project will be delivered in 2017.
„Our standing office portfolio in Bucharest has been nearly fully let during the recent years. In order to meet the growing demand for office space of our existing tenants, we decided to strengthen our local market position by developing a new office building, meeting all our quality criteria in terms of location and architecture,” Marian Roman, managing director of CA Immo Romania.
The two towers of Orhideea will have 13 storeys (GF+12 floors), respectively 17 storeys (GF+16 floors), with surfaces up to 2,700 square meters per floor and two underground floors each. The project includes 406 parking spaces and bicycle storage, showers and changing rooms for the cyclists.
“The Central – West area of Bucharest has the potential to become the new office hub of the Capital, as the River Place office buildings that we also hold in this area, already have proven to be a real success, accommodating tenants such as: British American Shared Services Europe, Misys, Ipsos, CGS, Thales, UPC and PTC Eastern Europe,” added Marian Roman.
CA Immo was founded in 1987 and today is active in the core markets: Austria, Germany, Poland, Hungary, Czech Republic, Slovakia and Romania. The company is listed on the ATX index of the Vienna Stock Exchange and controls property assets of around EUR 3.5 billion.
In Romania, CA Immo is active since 2003 and owns five offices building: Opera Center 1 and 2, River Place, Europe House and Bucharest Business Park, with a total gross leasable area of 106.000 square meters.