by Property Forum | Investment

Globalworth Real Estate Investment, by buying a 50% stake from Elgan Group, has become the sole shareholder of real estate developer Elgan Offices. The two companies developed the Renault Bucharest Connected (RBC) building located in the western part of Bucharest. Elgan Group is owned by Israeli businessman Simon Roth.


"We are pleased to announce that we have become unique shareholders of the project hosting Renault Bucharest Connected. The building was designed to meet the highest standards of efficiency, comfort and sustainability that a partner like Renault needs. We are committed to continue offering the same conditions as we did during these first months and to strengthen this partnership from year to year," Mihai Zaharia, Investments and Capital Markets Director at Globalworth said.

The project comprises 40,000 sqm of Class A office space, served by an underground level with approximately 240 parking spaces, with a further 760 spaces outdoors. Groupe Renault will occupy the entire development for a minimum term of 11 years.