Real estate developer Globe Trade Centre (GTC) has partnered Romanian company Ana Group, owned by businessman George Copos (in picture), in developing a 30,000 sqm office tower in Romanian capital city Bucharest, GTC has announced. The building, called Ana Tower, will be located in the close vicinity of GTC’s other office project, City Gate, in the Free Press Square in Bucharest. The project will be a 50-50% partnership between GTC Romania and Ana Group, while GTC will be managing the project on behalf of the joint venture.

Ana Tower will provide approximately 30,000 sqm of A-class office space located on 24 floors. The costs estimated for this project exceed EUR 55 million, according to previous information from Ana Group.

“We plan to start the construction this year and to complete the building at the beginning of 2013,” says Shimon Galon, GTC Romania Country Manager.

Ana Tower is the fifth office building which GTC develops in Bucharest, after Europe House, America House, City Gate South and City Gate North. Besides office projects, GTC also runs residential and retail projects in Romania.

George Copos owns a 3,500 sqm land plot near the Crowne Plaza hotel in Bucharest, that he also owns. In 2008, Copos said he was planning to build an office tower on the plot, but has delayed the project due to the real estate crisis. Copos has previously invested in office buildings, having put EUR 5 million in Ana Offices, a 5,100 sqm building near the Crowne Plaza hotel. Copos' Ana Group owns a chain of hotels in Romania, which include Crowne Plaza in Bucharest, Athenee Palace Hilton in Bucharest, Hotel Europa and Hotel Astoria in Eforie Nord seaside resort, as well as hotels Sport, Bradul and Poiana in Poiana Brasov mountain resort.

editor@romania-insider.com