Starting May 2020, Kraków’s Podium Park office building is managed by specialists from Globalworth. The in-house property management model, which allows operating closer to tenants, is one of the most important elements of the strategy of the investor.
Globalworth has announced changes to the company's Board of Directors. Bruce Buck, who was appointed as an Investor Director by Zakiono on 13 December 2017, has ceased to be a Director with immediate effect and Martin Bartyzal has been appointed as an Investor Director with immediate effect.
Globalworth released its annual financial reports for 2019 and issued a COVID-19 statement. Since the beginning of the year, Globalworth has further improved its liquidity, which is currently close to €600 million of available cash.
Globalworth announced changes to the Company's Board of Directors and an update regarding the COVID-19 outbreak. Ioannis Papalekas, the Founder, is stepping down from the Board of Directors of Globalworth but will remain as CEO. Dimitris Raptis, the current Chief Investment Officer and Deputy CEO, has been appointed co-CEO.
Globalworth signed a lease with DS Smith for its second logistics park in Timisoara, a project belonging to Globalworth Industrial, its industrial and logistics sub-brand. DS Smith decided to relocate its Service Center operations from Timisoara, renting more than 6,000 sqm at the park. Following this new collaboration, the occupancy rate in all completed industrial projects under the Globalworth umbrella reached 100%.
CPI Property Group continued to purchase Globalworth shares throughout the week. Following the recently executed transactions and an acquisition announced last week, CPI Property Group now holds 29.4% of the company’s voting rights.
Following an acquisition, CPI Property Group crossed the 6% shareholding threshold in Globalworth Real Estate Investments Limited. As of 23 January 2020, CPI Property Group holds 13,391,959 shares of Globalworth, representing 6.035% of Globalworth's voting rights.
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.
Globalworth Industrial, the industrial and logistics sub-brand of Globalworth, has begun construction at Constanța Business Park, the largest mixed-use project in Romania. The business park is being developed on a plot of some 100 hectares and will include industrial and logistics, production and service space, as well as office buildings and an intermodal hub.
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