PPF Real Estate, owned by the Czech billionaire Petr Kellner, is the latest Czech investor to enter Romania’s property market through the acquisition of Metropolis Center in Bucharest. The group paid €50m for the office and shopping center, which was completed in 2009, according to the local server Ziarul Financiar. The complex produces rent revenues of €3.9m. Average rent price in the 20,000 sqm Metropolis is €17/sqm/month. Tenants of the building, which was sold by the Austrian property group Soravia, include the EBRD and DLA Piper.
