The Italian Nusco family, which owns the Pinum door manufacturer and several plots of land in the Pipera area, sold two plots of land in the Barbu Vacarescu area, in Northern Bucharest, to Globalworth, at the end of 2017.

The investment in the two plots reached EUR 16 million. It will allow Globalworth to develop an area of about 40,000 sqm, mostly destined for offices, according to Globalworth representatives, writes local Ziarul Financiar.

The first plot covers 6,500 sqm and is located near Globalworth Plaza, the former Nusco Tower, which Globalworth bought in 2014 for EUR 46 million. In 2012, the firm Nusco Twin Towers advanced the proposal to build an office building of up to 75 meters on this plot.

The second plot covers 4,000 sqm and is located on Gara Herastrau Street, near the Green Court office project, also owned by Globalworth. The investment fund can now start the construction of the fourth office building within the Green Court project.

The acquisition of the two plots of land will be completed in the first quarter of the next year.

Investment fund Globalworth, controlled by the Greek investor Ioannis Papalekas, increased the value of its local portfolio to EUR 1.04 billion in the first half of this year after completing the acquisition of the third office building in the Green Court Bucharest complex, in Northern Bucharest.

Globalworth wants to acquire three office buildings in Romania

editor@romania-insider.com