Globalworth aims to buy UniCredit’s HQ in the north of Bucharest

Newsroom 25/03/2014 | 17:59

Globalworth, controlled by Ioannis Papalekas, is planning real estate deals worth of EUR 130 million in Romania, among which the Unicredit Tower.

The company intends to fund the acquisitions through stock exchange placements, according to the most recent announcement. The most expensive property Globalworth is looking at is the UniCredit Tower in the north of Bucharest, which is estimated at EUR 43.3 million and is currently owned by Bog’Art, owned by Radu Doicescu.
The Austrian bank financed the construction of the office building and the leasing contract has a duration of 10 years.

There is a series of investments currently underway for the company. Some of them have already been contracted, others are nearing final stages and in some cases we’re negotiating. These investments are coordinated with the company’s strategy to buy and develop assets that will generate profit”, according to the Globalworth announcement.

Also on Globalworth’s list:
– an office building on Dimitrie Pompeiu boulevard: sale price is EUR 5 million, development price – EUR 30 million.
– an office building currently in development with a sale price of EUR 30 million and a development price of EUR 60 million. speculates it could be Bucharest One, currently being built next to Promenada mall.
– an office building on Floreasca Boulevard with a sale price of EUR 12 million;
– a commercial property in the center of Bucharest, Selari-Smardan area, with a sale price of EUR 5 million and a development price of EUR 6.3 million;
– a commercial property of the “big box” type where the main tenants are Decathlon and Mega Image. The sale price is EUR 5.4 million and the development price is EUR 5.1 million.
– an office building on Bratianu Boulevard which is on route to be renovated and can be acquired for EUR 5 million.
– TAP logistical project in Timisoara which could be acquired for EUR 17.3 million.
– several stores in Constanta with a total sale price of EUR 4.5 million.

Greek businessman Ioannis Papalekas recently announced the renting of almost 38 percent of office tower Bucharest One situated on Barbu Vacarescu area in Bucharest. Vodafone signed a ten-year rental contract for 16.000 sqm within the office complex while Huawei will occupy 2.500 sqm for five years.

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