In 2011, Atenor initiated the first phase – out of three – of the construction of Hermes Business Campus, a new office compound in Bucharest’s Dimitrie Pompeiu business district, the company said in a press release Wednesday.
The infrastructure of the compound’s first building, which will have a lettable area of 18,000 square meters, has already been finished and construction will be completed by end-November 2013. It will be available for prospective tenants starting January 1, 2014.
The first phase of the project will be constructed by Alpine Romania, a subsidiary of Austrian constructor Alpine.
“Contacts and negotiations with multinational companies are on-going. Most of them are very sensitive to the Green aspect of the project,” reads the press release.
Hermes Business Campus will have 78,000 sqm of ultramodern office spaces and 46,000 sqm of parking and technical space.
“More than ever, Atenor Group is confirming its determination to develop its know-how in Bucharest. On October 18, 2012, the group has issued a 5 year bond for an amount of EUR60 million in the form of a public offering to individual and institutional investors in Belgium and the Grand Duchy of Luxembourg. The net proceeds of the offering will be allocated to the financing of the construction of the projects in the portfolio including Hermes Business Campus,” the company said.
Atenor announced the project in November 2010. The company said it would invest about EUR150 million in developing the compound, of which EUR30 million in the project’s first phase.
Atenor Group is listed in Brussels and developed several real estate projects in Belgium, Luxemburg and Hungary. The company registered assets of over EUR300 million at the end of June and profit of EUR7.7 million, down from EUR8.4 million in the first half of 2011.