River Development, the developer of the mixed-use project THE LIGHT, leased to VEGO Holdings an area of 2,100 square meters of offices in the first building of the ensemble - The Light One. The rented space is operational from July 2020, for a period of 5 years.
The Light One is the first of the class A office buildings of the three planned in the mixed-use office & residential project and other related facilities - The Light. The building has a leasable area of 21,653 sqm (GLA) and a height of 11 floors (2S + GF + 11 floors). Positioned in a very accessible area, on Iuliu Maniu Boulevard, the project is located in the newest real estate development pole - the center-west area of Bucharest, 280 m from Politehnica metro station and 10 minutes from the city center.
“The Light One building was from the design phase meant to be a landmark of quality and we are convinced that it will soon become an office building - a symbol, which will redefine the urban architecture in the west of the Capital. The partnership with VEGO Holdings is a strategic one, bringing to the building a solid consultant in architecture, installations, structure and urbanism, with the ability to lead the entire process of materialization of a project, from concept to execution details. We are glad to have them in our tenants' portfolio and we hope that they will feel “at home” in the rented space, that the new headquarters will be the place to inspire and further enhance their creativity and continue to set new standards in the field, adapted to both urban development strategies as well as the needs of the people. ” said Ion Rădulea, CEO of River Development.
The 21,653 sqm at the moment are 90% already rented. The new headquarters of VEGO Holdings covers an area of approximately 2,100 square meters and occupies the entire 9th floor of the building. In the recently arranged space, the VEGO team will mainly carry out office activities: design and project management.
“The space that will soon be opened in The Light One building is the main headquarters of VEGO Holdings and we intend it to be a creative space, where we imagine concepts, develop methodologies, test new models and apply solutions. VEGO is a dynamic, agile and versatile team whose professional standards are constantly growing. Our team is constantly attracting young and highly qualified workforce, so we decided to move our office from the Riverside Tower office building to a flexible and versatile space, very easily accessible as a location and with a spectacular panoramic view, in The Light One building on the 9th floor. ” said Virgil Profeanu, General Manager & Founder of VEGO Holdings.
The entire building The Light One has a height regime of 11 floors above ground and is equipped with the most modern technologies available and energy efficient solutions, such as: state-of-the-art apparatus and equipment, 6 elevators with destination control (PORT system ), increased degree of natural light, optimal thermal and solar protection, high-performance heating and air filtration systems. The building has been fully functional since the end of last year, being recently certified BREEAM Excellent. The two underground levels dedicated to parking are fully functional, with 250 parking spaces already in use for tenants and visitors, as well as 43 above-ground parking spaces (tenants & visitors). The building is a "beacon" of innovation and brings to Bucharest a series of novelties that differentiate it in the market: the facade of the building is one of the few in Romania that has benefited from full-scale testing for infiltrations (air-water-wind) at Reynaers Technology Center (Belgium); the add-on factor of only 5% is one of the lowest levels in the market. The square in front of the building also offers green spaces and a pedestrian area for outdoor activities, walks or leisure.
The Light One is the first phase of development of the mixed-use project The Light which, upon completion, will consist of three office buildings (98,721 sq m leasable area) and a residential complex (196 apartments), complete with related facilities such as areas for socializing, special dining areas, promenade spaces, green spaces or areas dedicated to retail and well-being.
VEGO completes the mix of tenants already present in The Light One building: Regina Maria Medical Clinic, with the largest private pediatric polyclinic in Bucharest, the new Kinetic center, Sweat Concept One wellness center, Comdata's multilingual Customer Management Center, CTP, and other new tenants who will settle in the next period - companies from various industries.
In the last 3 years, River Development has delivered Class A office buildings with a total leasable area of 60,000 sqm, of which approximately 22,000 sqm in The Light One building.
Currently, River Development is developing the projects THE LIGHT (Iuliu Maniu Boulevard) and Sema Parc (Splaiul Independenței). The mixed-use project THE LIGHT, with functionalities in the office and residential field and other related facilities has a total built area of over 150,000 square meters, of which almost 100,000 square meters is the leasable office space. The Light One is the first office building delivered out of the three planned and was delivered in 2019. The focus of development in Sema Park is on the two Class A office buildings: London & Oslo, which will have a total leasable area of 31,524 sqm (London - 21,347 square meters, Oslo - 10,177 square meters). The buildings are estimated for delivery in Q3 2021.