The insolvent state-owned energy producer Hidroelectria signed a 10-year lease on 3,200 sqm at Tower Center on Bucharest’s Victoria Square.
The value of the contract is being kept confidential, but, according to Remus Borza, the company’s judicial administrator, the terms are less than the current rents on the office market.
Hidroelectria will occupy the 11, 12, 13 and 14 floors of the building. Tower Center offers 22,000 sqm of space. It was developed by Avrig 35 and sold last year for €50m. Hidroelectria is the office building’s first tenant.
