Upground developer to build EUR 450m complex
05 December 2007
Real estate developer Upground launched a residential and office buildings complex in northern Bucharest. The complex will include 600 apartments and nine office buildings, worth an estimated €450 million after completion, said company's General Manager, Valentin Preda.
The project will be developed on a 44,000sqm area with the total constructed surface amounting to 260,000 square meters. Half of the first office building to be constructed has already been rented by local bank, Bancpost.
Upground’s shareholders are several British and Greek companies. One of the shareholders is the developer of City Mall in southern Bucharest, Jaguar Development.