Copos and GTC to build an office tower near Crowne Plaza

Businessman George Copos, one of the biggest hotel owners, teamed up with Israel’s GTC group, one of the most experienced office building developers on the domestic market, to develop an office building on a plot of land close to Bucharest’s Crowne Plaza, owned by Copos.

Copos and GTC will not exploit the zonal urban plan approved for the plot of land on Poligrafiei Street as early as 2007, allowing for the construction of a building with a height of 120 metres and 28 storeys, so that the building will be somewhat smaller.

“According to the latest plans, the project will have a lettable area of around 30,000 square metres, with a distribution of around 1,500 square metres/storey,” market sources told ZF, so that the project would include 18-20 storeys, being thus comparable to City Gate towers, which GTC developed in Piața Presei Libere.

Thus, investments in the project are likely to amount to some 60m euros, in line with ZF estimates.