This is the Lebanese group’s first investment in Romania.
Dimitris Mourkakos, co-founder of Day Group, previously said the group aims to keep investing in office projects, considering that it has been focused on residential projects to date, with Day Residence, in Bucharest’s Dristor area, being the latest project.
Day Tower is a Class A office building, which was entirely leased by Enel, one of the world’s leaders in the energy sector.
The sale of Day Tower is the sixth large transaction on the office market in 2019, after The Office Cluj, Liberty Cluj, America House, the Piraeus building and the third building of the Oregon Park project.
The volume of real estate investments in Romania exceeded EUR85 million in the first nine months of 2019, according to data from real estate consulting firm CBRE. The local real estate market attracted over half of investments, with Bucharest and Cluj-Napoca being the most dynamic cities, accounting for nearly 90% of the trade volume.
In the first nine months of the year, Romania saw transactions worth nearly EUR600 million, which are expected to reach EUR1 billion by the end of 2019, considering the ongoing deals.