The Czech real estate developer PPF Real Estate has launched its real estate project valued at EUR 60 million called ARC Bucharest with 30,000 sqm of office space. The Class A office building, which will have ten floors, is planned for completion in 2025.
“The launch of PPF Real Estate’s inaugural development project in the capital of Romania marks the beginning of the construction of the building, complementary to the works carried out by the municipality to modernize the area near the North Station and the future Bucharest Express Airport terminal,” said the investment director of PPF Real Estate, Juraj Šaštinský.
The PPF group’s real estate division entered the Romanian market in 2016 with the purchase of the Metropolis Center office building for EUR 48 million, followed by the purchase of the Crystal Tower for EUR 43 million in 2018.
