Real estate developer Portland Trust and American investment fund Ares Management LP will invest €50 million in the development of the third building at Oregon Park in the northern part of Bucharest. The new office building will comprise25,000 sqm and should be completed by the end of 2018.
Once completed, Oregon Park will span 70,000 sqm. Building A is fully leased by Oracle and the developer aims to fully lease Building B by the end of this year. According to Portland Trust CEO Robert Neale, multinationals companies in Bucharest are in expansion mode and there is high demand for office space at the moment. Portland Trust will also start the development of a new office project called Bluerose on Expozitiei Boulevard, near Bucharest’s exhibition centre called Romexpo.
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