Global Finance To Start New Real Estate Development In Bucharest

05.18.2011 By Andrei Circhelan

Private equity firm Global Finance plans to start a real estate project this year in Bucharest’s Calea Floreasca area, and to resume development on the Global City Pipera compound.

The Calea Floreasca unit will include a 36,000-sqm office building and three residential buildings cumulating 37,000-sqm.

"The investment is hard to estimate at this time, because the project design is not yet complete," Global Finance Real Estate official Aurelia Luca told MEDIAFAX.

The structure will be built near the Ford hall, a historic landmark. The hall will be integrated in the project and it will include 12,000 sqm in retail spaces.

Another plan for 2012 involves the resumption of construction on the Global City residential complex in Pipera, which will include 500 apartments.

The Pipera complex also includes 46,000 sqm of office space, which is 45% rented already.

Global Finance has offices in Athens, Sofia and Bucharest.