Swedish group Skanska, one of the largest real estate development and construction companies in the world, officially inaugurated its first office building in Bucharest, on Thursday, October 30.

The 12-floor building is part of Skanska’s Green Court Bucharest project, which is located in the Barbu Vacarescu – Pipera area, close to the Aurel Vlaicu subway station, in Northern Bucharest.

Skanska invested EUR 46 million in this building, which took 19 months to build. Skanska also coordinated the construction work.

The building has a total of 19,500 sqm of leasable space and has already been 90% leased to Orange Romania, the largest mobile carrier on the local market, and to Schneider Electric Romania. Orange has already moved some of its employees in the building and by the end of the year hopes to finish moving some 1,600 of its almost 3,000 people here.

French pharmaceutical group Sanofi also leased 2,000 sqm in the second building of Skanska’s compound. Skanska already finished the structure for the second building of the office compound and is now working on the façade. The company's investment in the second building is EUR 33 million. The construction of the third building should also start soon.

Green Court Bucharest is Skanska’s first project in Romania. The company entered the local market in 2011.

Skanska’s Green Court is located in the hottest area for office development in Bucharest. Near Skanska’s building there’s the Nusco Tower and across the street there are Sky Tower, one of the tallest buildings in Bucharest, and the Lakeview. Another office building, Bucharest One, is currently under construction next to Sky Tower. The Promenada shopping mall is also located in the vicinity.

Andrei Chirileasa, andrei@romania-insider.com