7m euros for offices in Baneasa

Baneasa Business & Technology Park, the company that will develop the office area within the Baneasa real estate project, will take out a bridge loan worth 7 million euros from BRD Soci?t? G?n?rale, to fund the start of construction works for the first buildings. The credit will be repaid within six months from the signing of the loan contract, but no later than the end of this year. It will be repaid using VAT reimbursements and/or through refinancing from the long-term investment credit, if such a credit is granted, reads a decision published in the Official Gazette. According to the developer, the loan will be used to start work on the first stage of the office area in the Baneasa real estate project, which will include two buildings with a surface area of some 26,000 square metres, with the investment estimated at about 35 million euros. According to the plans of the developer, the whole business park will be developed over a five-year period and will consist of 11 class A and A plus office buildings, with a total surface area of 160,000 square metres.