The largest leasing transaction registered on the Bucharest office market was announced by Globalworth Real Estate Investments Ltd., with the acquisition of a 57,000 sqm land previously owned by Coca-Cola HBC Romania and the development of the new Groupe Renault Romania headquarters in Bucharest by Elgan Offices SRL, a company owned equally by Globalworth and Elgan Group (represented by Simon Roth).
Following the completion of the project (scheduled for the first quarter of 2019), Groupe Renault will occupy the entire developed area, which will cover an area of over 47,000 square meters, for a period of at least 11 years. This is the largest leasing transaction ever recorded in the Bucharest office market.
The project is in line with the strategic objectives of the company to invest in premium buildings that, thanks to renowned tenants, produce long-term cash flows and meet the highest standards of quality, energy efficiency and environmental protection.
Renault's new headquarters will be located in the west of Bucharest, near Preciziei Metro Station and marks Globalworth's first investment in this rapidly growing dynamic office segment in Bucharest.
This is the second rental project between Globalworth and Groupe Renault Romania, following the acquisition of Dacia's main distribution facility near the recently completed Mioveni plant. As a result of this transaction, Groupe Renault Romania will become Globalworth's largest tenant.