Aim-listed CEE property firm Ablon Group said on Thursday it had acquired a 133,000 m[sup]2[/sup] plot close to Bucharest's Henri Cuanda airport. The company said it plans to develop a zone of modern ofices and high-tech facilities at the 'Airport City' site, to exploit the increasing commercial activity around the airport.
Aim-listed CEE property firm Ablon Group said on Thursday it had acquired a 133,000 m2 plot close to Bucharest's Henri Cuanda airport. The company said it plans to develop a zone of modern ofices and high-tech facilities at the 'Airport City' site, to exploit the increasing commercial activity around the airport.
The project is Ablon's fifth around the Romanian capital and will require total oinvestment of EUR 280mln. Construction is set to kick off within the next two years and will continue in five phases, with the final phase due for completion in six years. Uri Heller, founder and chief executive of Ablon, commented: 'We are very pleased to announce the acquisition of this plot so close to Romania's main international airport. We will develop the plot into a unique, branded project that will attract tenants from all over Europe. This development diversifies and creates further value to our portfolio of strategically located sites in the most attractive cities in Central and Eastern Europe.'
