Nusco Group announces further EUR 17 mln Romanian investment for new office building in Bucharest

Italian real estate developer is planning to start working on a new office building, near its existing 19-floor Nusco Tower, said Michele Nusco, one of the shareholders and CEO of the developer.

The total investment in this project amounts to EUR 17 million, and Michele Nusco said that EUR 10 million financing came from two banks, one Italian and one Romanian, while the rest of the money will come from the group. The new office project will measure 18,000 square meters, with 12,000 sqm for offices and the remaining 6,000 sqm for parking. According to Nusco, talks have already started with companies interested in renting space in the new building and some companies that leased space in the Nusco Tower are interested in expanding into the new office project. Nusco Tower, developed by Italian Nusco, spreads on 17,000 sqm of gross leasable area (GLA), on 18 floors. Tenants in the building include Oracle, Bayer, Centrofarm, Raiffeisen Leasing. Oracle has a 7,000 sqm of office space in the building. The office building is located on Barbu Vacarescu boulevard in Bucharest and required an investment of around EUR 50 million. Ioana Toader, ioana.toader@romania-insider.com (photo source: the company)