Neocity plans for $20m offices

Neocity Group, one of the largest investors on the office building market in Bucharest is planning to double investments in the sector over the next four years. So far, Neocity has allotted some $20 million for building Neocity Tower I, completed in June 2001 and Neocity Tower II, set to offer 3,300 sqm of office space as of this September. “We’ve already bought several plots of land and we’re planning to erect other office buildings in Bucharest throughout 2004-2007. There’s room enough for modern Class A business centres on the market, considering there are almost no vacancies,” Shay Mor, Neocity’s general manager said. ZF