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Raiffeisen evolution to invest around 250 million euros in a mixed real estate project

In brief



Data adaugarii: 2008-04-17

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Raiffeisen evolution project development will invest around 250 million euros in a real estate project including office spaces and a retail centre with over 35 stores, to be finalised by the end of 2010, on Wednesday declared company representatives. The Floreasca City project will be constructed in the North-East of Bucharest, in the vicinity of the Floreasca lake, and will have two execution phases. In a first phase, the developer will construct two office buildings and a retail area. The second phase will consist in a third building, whose destination will be decided at the finalisation of a market survey under development at this moment. "The project activity on the Floreasca City started in 2005, the building authorisation was obtained in February 2008, the construction itself was started in the second quarter of this year, and the project will be delivered to the market by the end of 2010", declared the Managing Director of Raiffeisen evolution project development SRL, Monica Bărcuţean. According to company representatives, the Promenada retail centre will unfold on an area of 50 000 square metres, will have over 135 stores and 1100 parking places. The office spaces will be hosted in two buildings with a total area of around 90 000 square metres and 1000 underground parking places.
The first building office, SkyTower, will be the tallest building in
Bucharest, with a height of 131 metres, developed on 37 levels. The second, Office Wing, will be built on seven levels, positioned above the retail centre. Raiffeisen evolution is a real estate development company with activities in Central and Eastern Europe, headquartered in Vienna. The company presently has 230 employees in 16 European locations. Under 44 projects, Raiffeisen evolution develops more than 1.2 million square metres built area, in a total amount of 1.7 billion euros and covers all the real estate industry sectors. The annual transaction volume is estimated between 300 and 350 million euros. Among the projects finalised in the Romanian market there are JW Marriott Grand Hotel, Oracle Tower, Băneasa Center etc.

 
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