OCTAGON assigned general subcontractor to PC Business Center office building, located in northern Bucharest

                                          

                                                                                                                                                                                                                                                                            

Press Release August 14^th 2014

OCTAGON assigned general subcontractor to PC Business Center office building, located in northern Bucharest

      Contract value: 2 mil. Euro

      Office building located on Bucharest- Ploiesti Road

      Height: 11 Floors

Bucharest, August 14^th 2014: OCTAGON CONTRACTING & ENGINEERING, a company specialized in civil and geotechnical construction works, has become general subcontractor for an office building- PC Business Center, located in the north of the capital. Construction works are worth approximately 2 million Euro.

PC Business Center is located on 7-9 Bucharest- Ploiesti road. The building has two underground and 9 ground levels and is located near Sector 1 City Hall. Iridex Group Import Export is the developer and general contractor of the project.

OCTAGON took over the project in the autumn of 2013, as specialized contractor, and has performed special foundation and infrastructure works: diaphragm walls D 600, bored piles D 620,crown beam, excavation and metal retaining systems, dewatering systems, foundation raft S2, S1, hydroinsulation of underground and water basin. Works were completed in May 2014.

The execution of the superstructure works has been added to the initial contract and OCTAGON has become general subcontractor to PC Business Center. Construction works have reached the 3^rd level of the building. This is one of the three major office projects built by OCTAGON in Bucharest, between 2013- 2014, along Green Court Bucharest (2-4 Gara Herastrau St.) and Hermes Business Campus (7- 9 Dimitrie Pompeiu Blvd.).

“Although according to statistics 2013 was a slower year for the construction market than the previous year, 2013 and 2014 have been intense growth years for OCTAGON, characterized by contracting major projects, especially in the office and infrastructure sectors. PC Business Center is a new opportunity to prove our ability to execute all the works included in a project: special foundations, infrastructure and superstructure.”  said Alexandros Ignatiadis, co- founder and shareholder of OCTAGON CONTRACTING & ENGINEERING.

OCTAGON CONTRACTING & ENGINEERING (www.octagon.com.ro ) is a Romanian company set up in 2005, headquartered in Bucharest. The company also has a branch in Baghdad (Iraq).  With a 19.6 million euro in 2013, large scale projects in Romania, Iraq, Greece, Turkey and Bulgaria, OCTAGON is one of the main players in the civil and geotechnical construction sectors, in Romania.

Among the reference works performed by OCTAGON in Romania there are: the office complex Green Court Bucharest (Gara Herastrau Street- Bucharest), the tallest office building in Bucharest Sky Tower (Barbu Vacarescu Blvd.), the office building Olympia Tower (Decebal Blvd.- Bucharest) and the Combined Cycle Power Plant 867 MW OMV- Petrom (Brazi- Prahova county).

Contact

OCTAGON CONTRACTING & ENGINEERING

Corina Ilie

Public Relations Specialist

Tel: (+40) 769 249 286

E-mail: c.ilie@octagon.com.ro

Media: OCTAGON granted 2 million euro contract for construction works on PC Business Center

PC Business Center- Superstructure 1

Romanian media has reported a new success registered by OCTAGONCONTRACTING & ENGINEERING in the past year: the construction of the office project PC Business Center (7-9 Bucharest- Ploiesti Road). Below are some links published on this subject:

Ziarul Financiar: http://www.zf.ro/companii/octagon-a-luat-un-contract-de-2-mil-euro-pentru-lucrari-la-birourile-pc-business-center-13093743

PC Business Center- Superstructure 2

Bursa Constructiilor: http://www.constructiibursa.ro/s=piata_imobiliara&articol=24882.html

Agenda Constructiilor: http://www.agendaconstructiilor.ro/files/antreprenori-dezvoltatori/octagon-contract-de-doua-milioane-de-euro-pentru-executia-pc-business-center.html

Constructiv: http://www.constructiv.ro/content/octagon-primit-un-contract-de-2-milioane-de-euro-pentru-lucrari-la-birourile-pc-business-cen?page=1

PC Business Center- Superstructure 4

PC Business Center- Superstructure 3

PC Business Center- Superstructure 5

Real estate investments in Romania went up three times in the first semester, to 402.4 million euro

Olympia Tower Bucharest

Real estate investments in Romania totaled 402.4 million euro in the first semester of 2014 and reached a transacted area of 692,000 sqm, a 222% growth on the first half of last year and a 17% increase on the whole 2013, according to the most recent study performed by real estate consultancy firm CBRE.

A total number of 15 transactions were performed, the highest number after 2008, with a medium volume of 26.8 million euro, similar to last year. According to the study the diversity of the type and use of sold properties was higher. The buyer profile has also diversified. 

Hermes Business Campus Bucharest

The transaction profile in terms of use was quite diverse. The office segment accounted for 58% of the total volume of transactions. In terms of property type, prime properties generated 55% of the total volume. In terms of buyer typology developers and real estate funds were the most active:  Globalworth generated 54% of the transaction volume.

Sky Tower Bucharest

At the same time, property type varied from prime properties, such as Charles de Gaulle Plaza, to secondary properties, such as Auchan Pitești Găvana, or 'distressed' properties (Pic Pitești and Pic Oradea).

Prime yield for the office segment dropped from 8.25% to 8%. The rest of prime yields remained stable.

Prime rent was relatively stable — 60 euro/sqm/month for shopping centers, 18 euro/sqm/month for office spaces and 3.8 euro/sqm/month for industrial spaces.

 CBRE also noticed an increase in land transactions in terms of number, value and type of sold properties.

Six students from UTCB have had the opportunity to practice their knowledge on OCTAGON construction sites

     Six students from the Technical University of Civil Engineering Bucharest (UTCB) practiced their knowledge for three weeks within the construction company OCTAGON.  

 Remus Anuta, Andrei Besu, George Dulama, Ioan Lazar, Valentin Nicolae and Maria Utu are students in the 4th year at the Faculty of Hydrotechnics and have had the opportunity to visit the company’s construction sites in Bucharest and see how works are being performed, but also spent a few days in the tendering department.

The students spend their first two weeks of practice on the site of the underground passage from Piata Presei Libere Square, where OCTAGON is executing diaphragm walls.  

The students were present to all the construction stages and asked questions whenever they needed clarifications related to the execution technique and the materials which were used.  

They were coordinated here by the Project Manager, engineer Dan Gerea, who explained to them the execution method of diaphragm walls within this project and the issues that can occur during execution.

The six students also visited Green Court Bucharest construction site, where OCTAGON is building the superstructure of building B, part of the office complex. The works started in 2014 and continued at fast pace.The building has already reached the 8^th floor of the total 11.  The students were accompanied by Mihaela Moraru, Quality Engineer, who indicated to them the most important stages of the execution of reinforcement and concreting works, which are currently performed on the construction site.  

 

In the last week some of the students, who expressed their interest to see how the tenders are being prepared within the tendering department, were coordinated by the company’s Technical Director, engineer George Visan.