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UPGROUND 14, first hotel accommodation units designed for office tenants

Globalworth becomes the only Romanian landlord offering hotel accommodation units exclusively to office tenants in its portfolio.            

Globalworth is working on a new outstanding project within its high-tech residential complex, Upground. By the end of this year, UPGROUND 14 will offer 9 spacious hotel accommodation units dedicated to the Globalworth office tenants. Each unit will have a kitchen/kitchenette, living area, bedroom, bathroom, and a generous terrace.

Globalworth brings together around 150 companies in its 18 buildings, which makes the Globalworth community the biggest business community in Romania. UPGROUND 14 will make it easier for business people to work together. The idea of this new mixed-use project was inspired by this strong community and the location of the complex. A unique concept in Bucharest, Upground follows the European trend which has seen the middle and upper class migrate towards the northern areas of large cities. With modern architecture, high-quality finishes and spacious apartments, Upground brings all necessary daily amenities close to its tenants and promotes a new lifestyle concept. Located in the heart of Bucharest’s biggest business community, in Pipera, UPGROUND 14 presents an important advantage: tenants who already live close to their office can now accommodate here their business partners or other key people interested in the business they operate.

Blending Office & Commercial & Hotel, UPGROUND 14 has the right balance of business, entertainment, convenience, and hospitality, all on the 14th floor of Upground, already a well-known residential complex for top corporate companies in Romania.

With more people living, working, meeting in one area in Bucharest, its mission is to create harmonious environments that serve multiple functions, avoiding overcrowding and increasingly heavy traffic as much as possible. Furthermore, the complex offers to its tenants and guests easy access to important destinations and public transport: 15-minute walk to Promenada Mall, 10 minutes on the subway to the centre of the city (Victoriei Square) and 20 minutes to Henri Coanda airport.

By diversifying the services for its office tenants, Globalworth, the office market leader in Romania, also becomes the only landlord that offers such facilities, thus differentiating itself massively from any other player in the market.

Stage of development

The work on the 14th floor is expected to be completed in August 2020. The next stage involves furnishing, interior design and other details. By the end of the year, UPGROUND 14 will accommodate its first guests.

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 Cyprus, Guernsey, Romania and Poland, a combined value of its portfolio is €3.0 billion, as at 31 December 2019.  Approximately 93.4% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of c.700 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.