Skanska buys land for office development in Bucharest for 24 mln euro

The plot that will be dedicated to a new office development is located in the Bucurestii Noi submarket, in the northern part of the Romanian capital, Skanska said in a press release.

The land is positioned in an area which is very well connected to the entire city by a variety of means of transportation, the company added.

"The acquisition of new land is a natural step in the sustainable development of our business. The new property meets all criteria we are pursuing in this process and, moreover, it represents an important milestone: with this land, we will be present in three different submarkets in the capital," Skanska Property Romania managing director Aurelia Luca said in a separate press release issued by Skanska Romania.

On the adjacent land, of approximately 26,000 sq m, InteRo Property Development will complement the complex developed by Skanska with four buildings.

"We are glad that we sold half of our land in Bucurestii Noi Street to Skanska and that we will develop, together with this, an integrated office project that could reach 175,000 square meters GLA," InteRo Property Development owner Michael Topolinski said.

InteRo Property Development is a family business active in real estate development. Together with the future office project in Bucurestii Noi, the portfolio of the company includes 170 rented apartments and the SkyLight Residence complex, a mixed-use real estate project..

In November, Skanska signed a lease with Societe Generale European Business Services for space in the third building of the Campus 6 project in Bucharest. The tenant will start to take occupancy of 10,500 sq m and 57 parking places in the fourth quarter of 2020.

Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, the Czech Republic, Slovakia and the UK. Skanska also develops commercial properties in Poland, the Czech Republic, Romania and Hungary. It is also active on the residential development market in Prague and Warsaw.

The company is active in Romania since 2011.

($=0.9079 euro)