Skanska, the developer that chose OCTAGON to Green Court Bucharest, delivers project designed by famous architect Calatrava

Real estate giant Skanska, the developer of the office complex Green Court Bucharest, built by OCTAGON, has delivered a project impressive through architecture, size and execution: Florida Polytechnic University. The Innovation, Science and Technology (IST) Building that is the centerpiece of the campus was designed by renowned architect Santiago Calatrava and built by Skanska, as part of a collaborative team of numerous design and construction partners.

 

You might be impressed by the project’s facts: this 160,000-square-foot structure was completed on-time and within the strict $60 million budget. This was accomplished despite such immense challenges as 90 percent of the structure being on a radius.

 “Completing this project makes my team and I feel extremely happy and at the same time somewhat sad,” said Chuck Jablon, the Skanska vice president who has overseen this project from the beginning. 

Of the design, Jablon said, “You can’t tell me that this design hasn’t captured you. Calatrava captures your curiosity on the drawings alone. Then, when you start building it and you see it evolve, he gets your heart. And when the building is far enough along so you can see the full design realized, he’s damn sure captured your soul.”

 

Inside, the roof’s exposed underbelly reveals concrete rakers that converge at an apex containing a skylight. A grand staircase takes center stage. Throughout the building, the concrete is clean and crisp – which required tremendous attention to detail and concrete craftsmanship from our team.

The complex rooftop system is supported by a concrete ring beam – 72 inches deep and 30 inches wide – that encircles the interior of the second floor’s grand common area. On the building’s radii, each column rotates on another angle. This building has about 300 radius points, with an incredible 90 percent of everything done on a radius. As Jablon said, “You see the radius – do you feel it?”

Calatrava designed the building to inspire students with a sense of optimism: “My first aim is to make an inspirational environment for the students and the professors and everyone working here.”

 

 

For more information click HERE. 

OCTAGON CONTRACTING & ENGINEERING

Phone: (+4)021.232.39.20

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DTZ: Modern office space in Bucharest reaches 2 mil sqm. OCTAGON to deliver two more buildings in 2014

Modern office space stock in Bucharest reached 2.114 million sqm, at the end of June, around 3% of this area accounting for new office space deliveries. In 2014, 132,000 sqm of office spaces will be delivered, approximately 60% of this area being pre-leased. In the first half of the year five office buildings were delivered, with a total area of 68,500 sqm, most of them being located in the west of the capital.

Hermes Business Campus

OCTAGON CONTRACTING & ENGINEERING has been one of the main office space constructors in the past two years. The company has started the year by delivering building B of the office complex Hermes Business Campus (5- 7 Dimitrie Pompeiu Blvd.), were OCTAGON was general contractor. By the end of 2014 OCTAGON will complete another two office projects: PC Business Center (7- 9 Bucharest- Ploiesti Road), where the company performed infrastructure works and is currently performing superstructure works consisting in concrete superstructure works (encasing, reinforcement, concreting) and metal structure works at building B of the complex Green Court Bucharest (2- 4 Garii Herastrau St).

Office building vacancy rate in Bucharest has slightly declined this year to 15.7%, 330,000 sqm being vacant, although a record rental volume was registered in the first six months. Most of the rental volume was generated especially by relocations, according to real estate consultants DTZ Echinox. Vacancy rate dropped by one percent quarter on quarter, reaching 15.7% at the end of H 1 2014. This is a 0.8 per cent

PC Business Center

decline on the same period of last year, when the vacancy rate was 16.5%.

Right now there are 333,000 sqm of free office spaces in Bucharest, over 30% of them being located in Pipera. Yet, the highest occupancy rate decline quarter on quarter was registered in Pipera, against the other areas in Bucharest - 4%, at the end of the first semester. The vacancy rate in Pipera is now 21%. In Pipera Sud area (Dimitrie Pompeiu St.) the vacancy rate is 8.5%, while in CBD (the central business area) and in west, the vacancy rates stands at 8%, reads a DTZ Echinox press release.

The center- north area has a vacancy rate of 16%, while Barbu Văcărescu – Floreasca area, with a 254,000 sqm stock, reached a vacancy rate of 14% at the end of the first semester.

Green Court Bucharest

The total volume of rented office spaces reached 108,000 sqm in the first half of the year, 25% higher than the volume reported for the same period of 2013. This is the highest rental volume registered within a semester, since 2008, without taking into account the investment made in 2010 by Petrom in its own office building.

Relocation transactions keep dominating the market, accounting for 72% of the total rental volume. New demand – expansions and new comers on the construction market – is 40% above the value registered in the same period of last year and accounts for 28% of the total rental volume.

Prime rents remained stable in the first six months of the year, with variations from 16-18 euro/sqm/month in the central business area, to 15-17 euro/sqm/month in center- north, declining to 12-15 euro/sqm/month in semi- central areas, and to 9 - 12 euro/sqm/month on the outskirts.

For more information click HERE. 

OCTAGON CONTRACTING & ENGINEERING

Phone: (+4)021.232.39.20

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