July 2017 marked the acquisition of a 57,000 sqm land plot previously owned by Coca-Cola HBC Romania and the development of Groupe Renault Romania’s new headquarters in Bucharest by Elgan Offices, a company equally owned by our company and the Elgan Group.

At completion (expected in Q1 2019), Groupe Renault will occupy the entire development, spanning over 47,000 sqm, for a minimum term of 11 years. This is the largest leasing transaction ever recorded in the Bucharest office market. Renault Bucharest Connected will be located in the western part of Bucharest, next to the Preciziei metro station.

This is Globalworth’s first investment in this fast-growing and dynamic office submarket in Bucharest. This is the second tenancy that Globalworth has signed with Groupe Renault Romania following the recently completed acquisition of Dacia’s main distribution facility near its Movieni factory. As a result of this transaction, Groupe Renault Romania will become Globalworth’s largest tenant.

“This is a landmark transaction for Globalworth. We are proud and honoured to forge such a strong and long standing partnership with Groupe Renault Romania. The fact that the largest corporate in Romania is becoming the biggest tenant of Romania’s leading office investor is testament to our unrivalled expertise in building solid relationships with some of the largest corporations in the world by delivering landmark, high-quality work spaces that guarantee performance, competitiveness and a comfortable, productive work environment”, said Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer of Globalworth.