CA Immo to start a new office development in Bucharest with 75 million Euro

CA Immo, the specialist in office properties in Central European capitals, which owns five office buildings in Romania with a gross leasable area of 106,000 square meters, has started a new office development on the local market this autumn.

2015-10-09 11:59:47

Orhideea Towers is located in the Central-West area of Bucharest, next to the Grozavesti metro station and will absorb a total investment of EUR 75 million.

The project will have a total gross leasable area of 37,000 square meters and includes two towers, H-shaped, inspired by orchid petals, linked together by a bridge enveloped into a glass front wall. The construction has started in October 2015 with special foundation works, for which CA Immo works with Octagon Contracting&Engineering S.A. The entire project will be delivered in 2017.

Marian Roman, Managing Director of CA Immo Romania: "Our standing office portfolio in Bucharest has been nearly fully let during the recent years. In order to meet the growing demand for office space of our existing tenants, we decided to strengthen our local market position by developing a new office building, meeting all our quality criteria in terms of location and architecture." After completion, Orhideea Towers will be included into the CA Immo investment portfolio.

Orhideea Towers will be developed according to CA Immo highest quality standards, in terms of design and technical specifications and sustainability criteria specific to green buildings and will apply to LEED Gold certification. In this respect, CA Immo can refer to a significant track record and expertise as a high-quality office developer.

The two towers of Orhideea will have 13 stories (GF+12 Floors), respectively 17 stories (GF+16 Floors), with generous surfaces up to 2,700 square meters per floor and two underground floors each. The project includes 406 parking spaces and bicycle storage, showers and changing rooms for the cyclists.

"The Central - West area of Bucharest has the potential to become the new office hub of the Capital, as the River Place office buildings that we also hold in this area, already have proven to be a real success, accommodating tenants such as: British American Shared Services Europe, Misys, Ipsos, CGS, Thales, UPC and PTC Eastern Europe," added Marian Roman.

Orhideea Towers is located at the junction of Splaiul Independentei with Orhideelor Street with direct access to the Grozavesti subway station, benefiting from a unique location with excellent visibility both from Basarab Overpass, travelled by up to 100,000 cars every day, and from Splaiul Independentei.

In the vicinity of Orhideea Towers is the biggest student concentration: the Polytechnic University of Bucharest, counting a total of 25,000 students, and Regie campus, where more than 15,000 students live. Due to Basarab Overpass, placed in the vicinity of Orhideea Towers, one can reach Victoria Square, the business center of Bucharest, in a matter of minutes.

CA Immo specializes in office properties in Central European capitals. The company was founded in 1987 and today is active in the core markets: Austria, Germany, Poland, Hungary, Czech Republic, Slovakia and Romania. CA Immo is listed on the ATX index of the Vienna Stock Exchange and controls property assets of around EUR 3.5 billion.

In Romania, CA Immo is active since 2003 and owns five offices building: Opera Center 1 and 2, River Place, Europe House and Bucharest Business Park, with a total gross leasable area of 106.000 square meters.