Optima Investment, the administrator of the foundations created by the National Bank of Hungary, enters the Romanian residential market with a first project with hundreds of apartments in the Exhibition area of Bucharest, to be built by the Globe Trade Center (GTC).
Optima Investment entered the Romanian market in 2020 after acquiring the majority stake in Globe Trade Center from the American giant Lone Star.
GTC has been authorized since 2018 to build 3 office buildings with a total area of about 50,000 sqm, a project whose investment cost was estimated at EUR 130 million. Now, the developer plans to change the building permit to create a single office building with an area of approximately 17,000 sqm, complemented by two residential blocks with a total of 238 apartments. Through the same document, the GTC also reduced the number of basements dedicated to parking spaces, from four, as many as were planned in 2018, to only two underground levels, which should significantly reduce construction costs. The apartments project will be called Spatio.
The mixed office and housing complex is to be built on a 14,000 sqm plot.
Source: Profit.ro
