Primavera has developed several office projects locally, with S-Park, sold to Austrian investment fund Immofinanz for EUR100 million as the biggest.
The investors have recently sold to Mega Image the land plot of Piata Sudului where the Belgian company built a large supermarket. Another recent deal was the sale for EUR6 million of the Colentina headquarters of Danone.
In parallel, Primavera bought, together with other Romanian investors, a 12,700-sqm plot in Orhideea area and a 2,200-sqm land lot in Calea Dorobantilor to the end of developing new office buildings.
Tanasoiu family is part of the group of investors considering Barbu Vacarescu-Floreasca area is overheated. As a result, the company’s investments focus on the central-western area, as well as in Bucharest downtown.
2015 will be the first year Primavera Development will tap the housing segment, which is giving signs of thawing in the Bucharest area.
“We have several land plots that are fit for housing projects in Sisesti-Straulesti area and we want to start a project made up of two 2-storey and 20-apartment blocks to see how much we can sell and what unexpected costs arise. We haven’t developed any housing compounds so far, so that this will be a pilot-project,” said Daniel Tanasoiu, a stakeholder in Primavera Development.
(English version by Catalina Apostoiu)