Paval Holding buys Dacia One office project in central Bucharest

Paval Holding, the owner of the largest local DIY retailer, Dedeman, bought Dacia One office project, developed by ATENOR, in a EUR 50 million deal.

It is the third office project in Romania bought by Paval Holding, alongside The Bridge Bucharest and The Office Cluj-Napoca.

Located on Calea Victoriei, in central Bucharest, the Dacia One Class A office project has a leasable area of approximately 15,000 square meters.

It also integrates the historic building known as Casa Cesianu, which has been completely renovated.

The main tenant of the fully pre-leased project is ING Tech, the global software development hub of the ING Group, alongside law firm Noerr and ESS.

This year, the Belgian ATENOR group also sold Hermes Business Campus, in the north of Bucharest, to the Hungarian Adventum Group.

At the same time, ATENOR continues the construction works at the Expo office complex in the Expozitiei area, that will have a total area of approximately 49,000 square meters.

The company activities in Romania also include the UP-site premium residential project, built in the Floreasca area of Bucharest which has a total area of 26,000 square meters.

The developer already sold 65% of all apartments since the project phase.

With the Dacia One transaction, Paval Holding marks its third acquisition of office properties, after its previous investments The Bridge in Bucharest and The Office in Cluj-Napoca. The holding’s office portfolio now exceeds 150,000 square meters of exceptionally built office premises, in prime locations, offering high quality, sustainable office space to a remarkable client portfolio.

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