Globalworth Real Estate buys Bucharest plots with over EUR 14 mln

Globalworth Real Estate, a company founded by Greek real estate investor Ioannis Papalekas, recently purchased several plots of land in Northern Bucharest with some EUR 14.3 million. The land plots, which comprise some 30,000 sqm in total, will be destined for commercial (office and retail) development, according to an announcement of the company. They are located near the Pipera metro station, at the corner of Dimitrie Pompeiu Boulevard and George Constantinescu Street. Globalworth posted revenue of EUR 8.1 million for period ended December 31, 2013, while its net asset value totaled EUR 126.2 million. Its pre-tax profit was of EUR 13.7 million for the full year. In March this year, Globalworth Real Estate Investments has bought Tower Center International (TCI) in Bucharest’s Victoriei Square for EUR 58 million. Irina Popescu, irina.popescu@romania-insider.com