Floreasca City Center Sky Tower in Bucharest reaches the 100 meters mark

The Sky Tower building, part of the Floreasca City Center (FCC) currently under development by Vienna based developers Raiffeisen Evolution, has reached the 100 meters mark. The Sky Tower building will reach a total height of 137 meters.

By the end of 2012, the first two parts of the FCC district development are set to be completed. In a few months the SkyTower and the smaller FCC Office buildings, acquired last year by Raiffeisen Property Holding International (RPHI), will be ready to be handed over to the new owner. “This project is progressing well. The SkyTower just grows and grows,” said Mark Neurauter, managing director and CEO of Raiffeisen Evolution.

Construction on the SkyTower started in May 2011. Since then the tallest building in Bucharest has been growing by about one floor per week. The future tenants, Raiffeisen Bank Romania, will occupy seven floors of the tower and the entire FCC Office. All the remaining floors in the office tower will be leased by RPHI.

“As a future landmark of the Romanian capital the interest in the SkyTower is huge,” said Gabriele Deffner, head of marketing and asset management for RPHI. “Compared to the pace of construction, there is also a great deal of interest in the rental space still available. When it comes to the presentation your own business the SkyTower is like no other building.”

“We are working here as a turnkey contractor,” added Mark Neurauter: “The whole district development was initially designed for international investors. The fact that one of the investors is from our own corporate ranks, was a happy coincidence.”

The smaller FCC Office, directly connected to the SkyTower comprises six floors. At the end of April the topping-out ceremony was celebrated.

Raiffeisen Evolution Project Development is a real estate company, with headquarters in Vienna, operating in Austria, and Central and Eastern Europe. The portfolio of Raiffeisen Evolution includes primarily residential and office buildings, but also hotels, shopping malls, retail centers and mixed-use developments.

The 32 projects currently being worked on under the business areas for residential and commercial properties (including service providers, etc.) have a total value of more than EUR 1.2 billion with a total area of just over one million square meters. About 75 percent of the total investment costs are attributable to the CEE region. In Austria, Raiffeisen evolution is currently processing eleven projects with a total gross floor area of nearly 115,000 sqm of which over half of the projects fall in the residential sector.

Raiffeisen Property International, based in Vienna, is the resource center of the Raiffeisen Bank International (RBI) for commercial real estate in Austria and throughout Eastern Europe, with an emphasis on in-house exploitation. Its activities include, amongst others, implementation of the head offices in Budapest, Warsaw, Prague, Bratislava and Sofia, as the investor for the RBI network of banks, and the new headquarters of RBI in Vienna as a service provider. It also is currently significantly involved in the establishment of the headquarters of Raiffeisen Bank Serbia in Belgrade.