PPF Real Estate picks up contractor for its first office project in Bucharest
PPF Real Estate announced that it has chosen the Romanian branch of Strabag as the general contractor for the ARC project, the first office project it is building near the Basarab subway station in Bucharest.
iulian ernst · Journalist
· Updated · 1 min read
PPF Real Estate announced that it has chosen the Romanian branch of Strabag as the general contractor for the ARC project, the first office project it is building near the Basarab subway station in Bucharest.
The previously announced investment for the office tower was EUR 60 million, according to Economica.net.
PPF Real Estate bought in 2022 the land where the office building will be built, which will have a leasable area of 30,000 square meters.
This is the first development from scratch for PPF, which bought the Metropolis Center and Crystal Tower office buildings in Bucharest in 2016 and 2018.
Construction of the ARC building is scheduled to be completed in 2026.
"We are sure that the ARC project will be a trailblazer among the top office spaces in Bucharest and Romania. We are pleased to choose Strabag due to its excellent and long experience in constructing buildings to the highest standards, allowing investors and owners to please their tenants," said Juraj Šaštinský, Investment Director of PPF Real Estate.
(Photo source: Strabag)
