"The construction f Bucharest One and of the first phase of the space Continental will occupy within TAP (approx. 45,361 sq. m) is developed according to the schedule and we have started at the same time the preparation works for the construction of Globalworth Campus. In the third quarter, the company invested EUR 12 million, including Bucharest One (EUR 5.1 million), City Offices (EUR 4.2 million) and TAP-Continental (EUR 2.7 million)", the report states.
Globalworth says that in the third quarter it has completed the acquisition of TAP in North-Easter of Timisoara for EUR 18.3 million. The project is partly developed, the companies Valeo and Continental, occupying an area of 72,835 sq. m, both contracts being signed on long term.
TAP will have 113,340 sq. m rentable area, being the largest industrial park in the country.
"The two companies have options of expansion of the space. Considering those options, TAP will have 113,340 sq. m rentable area, being the largest industrial park in the country", the report says.
The company’s strategy is to continue the investments in Romania, being involved in several due-diligence processes or negotiations for the acquisitions of several real estate assets. Globalworth obtained in the end of September net operational revenues of EUR 7.7 million, with a significant increase in the third quarter, of EUR 3.8 million, compared to EUR 3.9 in the first six months of the year.
"Those results were mainly generated by TCI Tower (approx. EUR 1 million), BOB Offices (EUR 0.5 million) and BOC Offices (EUR 2.2 million). The acquisition of TAP contributed with EUR 0.3 million at the acquisition date. The value of the assets has increased with 6 pct to EUR 554.85 million compared to the end of June", the company also shows. (source: wall-street.ro)