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Vodafone to move into Papalekas tower

Telecom operator Vodafone will transfer its operations into the office tower Bucharest One, in the north of the city, a project of Greek businessman Ioannis Papalekas. The move becomes effective next year

2014-04-05 16:48:50 - From the Print Edition

Vodafone will lease some 16,000 sqm in the 23-level office tower, according to the company, which does EUR 800 million of business yearly in Romania and has a local staff of approximately 3,300. The acquisition of the Bucharest One site was completed in December 2013 and announcements previously indicate that the development would be completed in the third quarter of 2015.
The building contract for the Bucharest One office project has been assigned to the general contractor BogArt. Globalworth Real Estate Investments, a fund controlled by Papalekas, is an AIM-listed real estate company formed to take advantage of investment opportunities in the South Eastern Europe (SEE) and Central and Eastern Europe (CEE) markets, with a primary focus on properties in Romania.
In Bucharest, the fund division Globalworth Asset Managers also owns the City Mall commercial center which is undergoing a EUR 17 million reshaping project. The money has been secured from Bancpost, according to a company statement. City Mall and City Office, owned by Papalekas since 2006, were sold for EUR 103.5 million to Australian fund APN European Retail.



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