by Property Forum | Office

Speedwell and Erste Group Bank signed a financing agreement of €27 million for the development of MIRO, a Class A office project the company is building in the northern part of Bucharest.

The construction works for MIRO started in July 2020 and since their kick-off, the activity on the site has continued at a fast pace. The office building is going to be delivered and the first tenants are going to move in at the end of this year. Currently, approximately 65% of the office space has been leased to various companies.

The office building combines a 23,000 sqm leasable area spread out over 5 levels, large 4,570 sqm floor plates, and a 1:40 parking ratio. MIRO is designed to achieve a BREEAM Excellent rating and a WELL certification.

“We are happy to announce a financial agreement has been signed with the Erste Group Bank, in close local cooperation with Banca Comerciala Romana. Our projects’ success is also due to the support we are receiving from our partners. The case of MIRO makes no exception. This is a partnership we can all be proud of, not in the least in these challenging times.” stated Didier Balcaen, CEO and CO-Founder Speedwell.

“Managing to negotiate and sign this agreement during the most challenging of circumstances is something we all can be very proud of.  Such an achievement shows great potential for our future partnership.”, stated Mario Andrijevic, Client Executive, Erste Group Bank.

Speedwell has a large portfolio of developments in Romania that includes Record Park in Cluj-Napoca, Triama Residence and The Ivy in Bucharest, Paltim in Timisoara, and Riverside City in Ramnicu-Valcea, together with the above-mentioned project in the North of Bucharest.