EUR 5 mln to be invested in converting Bucharest historical building into retail and office center

Newsroom 17/06/2014 | 18:40

FF Group Romania, the former Elmec Romania, has signed a EUR 4 million loan agreement with the local branch of Turkish Garanti Bank to finance the reconversion of a Bucharest historical building into a 5,000 sqm retail and office center, the bank announced today. The entire investment in the project will amount to EUR 5 million.

The 1923 building is located in downtown Bucharest at the corner of Ion Campineanu Street with Nicolae Balcescu Avenue, near the University Square. Reconstruction works of the six-floor building started in May last year and will feature the preservation of the façade’s architectural details. The project will be completed in May 2015.

“In addition to the special attention we pay to our distribution and retail networks, FF Group is pursuing the implementation of its real estate development plans in Romania. We believe this project represents a major milestone for both our company, as well as for Bucharest’s landscape,” said  Cristian Beznoska, CEO FF Group Romania.

Out of the 5,000 sqm, three floors totaling 1,200 sqm will be dedicated to the retail segment, for FF Group’s own multi-brand store, _kix. The rest of the building will be rented to third parties as office space.

FF Group Romania is a retail and distribution company part of Greek Folli Follie. Its portfolio includes fashion and sports brands such as Nike, Folli Follie, Calvin Klein Jeans, Armani Jeans, Boss Orange, Converse, Franklin & Marshall, G-Star Raw, Hamaki-Ho, Juicy Couture, Napapijri, Pepe Jeans London, Polo Ralph Lauren, Scotch & Soda and UGG Australia. In Romania it owns a network of monobrand, multibrand and outlet stores.

Simona Bazavan

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Newsroom | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue