“The office space project Renault Connected Bucharest is built by Bog’Art, which also works with subcontractors, among which Apolodor”, said Georgiana Oltenescu, marketing director of Globalworth.
The project is developed by Elgan Offices SRL, a company equally owned by Globalworth, an investment fund run by businessman Ioannis Papalekas, and by Elgan Group. The project is due for completion until 2019, and the two buildings of the headquarters will bring under the same umbrella all the group’s activities in Bucharest, from design and engineering to business services and trade.
Bog’Art reported a turnover of over RON500 million in 2016, up 5% from 2015, and a profit of RON6.7 million. The company has more than 400 employees, according to Finance Ministry data.
Bog’Art delivered some 450,000 square meters of office space, 400,000 sqm of retail space, 200,000 sqm of logistics warehouses and 100,000 sqm of residential buildings, reporting, on average, a turnover of EUR127 million between 2013 and 2016, according to company data. The builder relies on the office segment to the detriment of large infrastructure projects.
Apolodor, specialized in demolition works, ended 2016 with revenue of RON31.4 million, down 13% from 2015, and a loss of RON1.2 million. The company has 62 employees, according to public data.
The 3,000 employees who will be working within the new headquarters will have 1,000 parking lots at disposal, a 350-seat amphitheatre for events, a restaurant, a medical cabinet and computer infrastructure. Company representatives declined to say the value of investment in this project, saying it is a confidentiality contract.