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Globalworth becomes sole owner of Renault's headquarters in Bucharest

The CEE’s office real estate leader acquires the 50% outstanding stake in the company owning the Renault Bucharest Connected building

Bucharest, 15 January 2020: Globalworth has become the sole shareholder of the company owning the Renault Bucharest Connected building after buying a 50% stake from Elgan Group, represented by Mr. Simon Roth. The development, which is located in the western part of Bucharest and extends over some 58.000 sqm to include office space and a design centre, is now 100% owned by Globalworth.  

We are pleased to announce that we have become the sole shareholders of the development hosting Renault Bucharest Connected. The building was designed to meet the highest standards of efficiency, comfort and sustainability, as required by a partner such as Renault.

Our collaboration with Groupe Renault in the office sector is a prime example of how, through a successful relationship with our client, we were able to provide the ideal framework to bring together all their operations in Romania. We are committed to continue working in the same vein as we did at the outset and strengthen this partnership from year to year," commented Mihai Zaharia, Investments and Capital Markets Director at Globalworth.

After acquiring Pitesti Industrial Park, whose sole tenant was Dacia Renault, Globalworth also provided the French group with an optimal office space solution. The Renault headquarters in West Bucharest houses the engineering centre, sales department, business services sector and the HR support, communications, IT/S, quality management, financial, legal and asset management departments.  

The works on the building were started in August 2017 and the development was finalised in February 2019.

The project comprises 40,000 sqm of Class A office space, served by a 10,000 sqm underground level with approximately 240 parking spaces, with a further 760 spaces outdoors.

In addition, the building houses a 8,000 sqm design centre and employees have a 350-seat events amphitheatre at their disposal They also benefit from other amenities  such as a restaurant, a gym and a medical office.

Renault Bucharest Connected has excellent access being located near public transport routes serving the whole of Bucharest. The building also provides easy access to the Renault Technical Center at Titu via the A1 freeway.

The project was developed to meet the highest standards in energy efficiency, being certified BREEAM Excellent. Moreover, it is the first Romanian building with an EDGE recognition (“Excellence in Design for Greater Efficiencies”), a certification from IFC, the investments division of the World Bank. A facility needs to use at least 20% less water and energy, with a positive impact on maintenance costs, to receive this accreditation. Renault Bucharest Connected has a low level of electric energy consumption and highly efficient heating, cooling and ventilation.

At the end of last year, Renault Bucharest Connected won its first real estate competition recognition, winning “Best Leading Green Development & Developer” at the CIJ Awards Romania 2019 and being designated “The office project of the year” by Real Estate Gala.


About Globalworth

Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 200 professionals across Romania and Poland, the combined value of its portfolio is €2.85 billion, as at 30 June 2019 pro forma for subsequent acquisitions.  Over 95% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 685 national and multinational corporates.  In Romania, Globalworth is present in Bucharest, Timisoara, Constanta and Pitesti, while in Poland its assets span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice.