Globalworth Bought 30,000 Square Meters of Land in Bucharest

Globalworth, the investments company created last year by the businessman Ioannis Papalekas, has paid 14.3 million euro for several land plots with an overall surface of about 30,000 square meters, located in the north of Bucharest, on which he plans to develop offices and commercial centers. The land plots are located near Pipera subway station, at the corner of Dimitrie Pompeiu Avenue and George Constantinescu Street, shows a press release from the company. The land plots are near the residential ensemble Upground and near the office buildings BOB and BOC, owned by Globalworth. Until recently, on one of the land plots bought has functioned the warehouses and the central headquarter of the pharmaceutical distributor Farmexim, owned by the businessman Ovidiu Buluc, who relocated his operations into a new logistic center in Balotesti village, Ilfov County. The shareholders of Farmexim have discussed since May 19th the sale of several assets.

According to a recent report of Globalworth, Papalekas wants to build an office ensemble of 50,000 square meters on a land plot of 12,000 square meters on Dimitrie Pompeiu Avenue, with an investment of 30 million euro, financed with funds recently raised from London Stock Exchange. The land plot from the north of Bucharest is on the list f investments Globalworth plans to make with the funds from London Stock Exchange. This list includes ten investment objectives, finished buildings, land plots and developer or renovation projects, including the headquarter of UniCredit bank near Piata Presei Libere Square from Bucharest, for which the company would have to pay 129.5 million euro. Some of the projects have been bought while others are in advanced negotiations.

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