Brothers Adrian and Dragos Paval, the founders of Dedeman, the largest Romanian-owned business, are looking into a potential purchase of the ISHO office buildings in Timisoara from local entrepreneur Ovidiu Sandor, according to market sources cited by zf.ro.
In 2018, the brothers bought Bucharest’s The Bridge from Forte Partners for EUR 200 million and are now negotiating for The Office in Cluj-Napoca, half of which is also owned by Sandor and estimated to be worth around EUR 130 million, and ISHO in Timisoara, worth at least EUR 100 million.
If the deals go forward, Dedeman would be involved in the largest transactions made in each of the two cities so far.
ISHO tenants include Bosch Service Solutions, Survey Sampling International and KPMG.
Ovidiu Sandor invested about EUR 130 million in the ISHO offices in central Timisoara, on a former industrial platform with a total surface area of 5.3 hectares. The project will soon add a Radisson Blu hotel, 1,200 apartments and 7,500 sqm of greenery. Timisoara will be the European Capital of Culture in 2021.