Real estate developer Portland Trust has leased 35,000 sqm of office space in the Orgeon Park project in Bucharest.

This stands for 78.6% of the built area in the first phase of the project, which entailed two buildings with a total surface of 44,500 sqm.

The first building was delivered in September 2016, with a leasable area of 20,500 sqm. US company Oracle fully leased it the same year.

The second building was delivered to the first tenants in February 2017. With a total leasable surface of 24,500 sqm, it has as tenants Kambi, Deloitte Tehnologie, Medicover, Markant AG, Europa FM, and Euler Hermes.

Portland Trust estimates it will fully lease the first two buildings by the end of 2017.

The second phase of the Oregon Park project entails the development of the third building, with a gross leasable area of 24,500 sqm. Work on it will start this fall, with a deadline for the fourth quarter of 2018.

The three buildings will total 69,000 sqm of net leasable space. Portland Trust is a CEE developer established in 1997 by Robert Neale, also its GM.

editor@romania-insider.com