Business Construct: Projects of the year: 10 investments that have moved the market. OCTAGON was involved in the construction of three of the projects

Two shopping centers developed by NEPI, five office projects stretching over  110,000 sqm, a road passage, a multifunctional hall and a  DYI store, are ten of the most important real estate investments delivered this year, on a market in which large projects worth hundreds of millions of euro missed, Business Constructor writes. OCTAGON CONTRACTING & ENGINEERING was involved in the construction  of three of these projects: Hermes Business Campus, Green Court Bucharest and Green Gate.

Top 10 investitii 2014

The cumulated investments in these projects reached almost 350 million euro, while a shopping center,  such as AFI Palace Cotroceni from Bucharest cost 300 million euro and the investment in Palas shopping mall from Iasi exceeded 250 million euro. Two of these investments, the office projects Green Gate and AFI Park, benefited from banking financing, which shows that the financial institutions keep being prudent in granting loans for construction.

Under these circumstances, two public projects have also reached the top of investments:  the underground passage Mihai Bravu from Bucharest and the new Multifunctional Hall from Cluj, as well as a Dedeman store, a 16 mil. euro investment,  built in Colentina.

The 10 projects are:

•   Vulcan Value Center- shopping center covering 25,000 sqm, located in Rahova area; investment: 47 mil. euro
•  Mihai Bravu Passage
• Targu- Jiu Shopping City- shopping mall with a leasable area of 27,000 sqm; investment: 30 mil. euro
• Dedeman Colentina
• AFI Park 2 and 3- two office buildings with 24,000 sqm of leasable space; investment: 40 mil. euro
• The Office Cluj- offices with 19,000 sqm leasable; investment: 26 mil. euro
• The Multifunctional Hall from Cluj- with a capacity of 7,200 seats; investment: 16 mil. euro.
• Green Gate- office building located on Tudor Vladimirescu Blvd.; investment: 57.5 million euro. OCTAGON performed the geotechnical works: diaphragm walls, bored piles, dewatering system and crown beam
• Green Court Bucharest- office complex developed in three stages on Barbu Vacarescu Blvd; investment: 46 mil euro. OCTAGON performed the infrastructure and superstructure works for buildings A and B
• Hermes Business Campus- office complex located in Pipera area, on 5-7 Dimitrie Pompeiu Blvd. OCTAGON  was general contractor for the first stage of the project: the construction of building B, and is currently building the foundation and superstructure of building C- the second stage of the project.

Top 10 investitii 2014

Skanska secures first tenant in building B of Green Court Bucharest complex, built by OCTAGON

Green Court Bucharest- building B 2

Skanska announced the leasing of the first office space in the second building under construction near the intersection of Barbu Văcărescu-Pipera Road, Capital writes. OCTAGON is the constructor of the building and is currently performing concrete and metal structure works.

Sanofi, one of the biggest medicine producers in the world, that owns Zentiva factory in Bucharest, has rented a space of around 2,200 sqm. The company will move into the new headquarters in June 2015.

Green Court Bucharest- building B 3

„We are currently performing structure works on building B and we will soon begin façade works.” said Marcin Łapiński, the president of Skanska Property Romania.

So far, Skanska has rented approximately 19,000 sqm of the whole Green Court Bucharest Complex. The first building, with a 19,500 sqm area, has been 88% rented by Orange România and Schneider Electric. Building B will have a 18,000 sqm leasable area.

Green Court Bucharest- building B

Building B is the second on the three buildings of the complex. OCTAGON has also delivered building A, where the company performed infrastructure works (diaphragm walls D 600; crown beams; anchors), concrete structure works and superstructure works. Building A has 15 floors. OCTAGON contract for this building has been supplemented with exterior works: construction of access stairs, access ramps for people with disabilities and protection fences.

Green Court Bucharest will have a total leasable area of 52,000 sqm. The complex, developed by Sweedish company Skanska will be LEED Gold certified.