The purpose of the increase for One Cotroceni Park Office Phase 1 and Phase 2 is to reimburse shareholder loans and cover other costs related to the credit facility increase transaction.
In 2021, the company secured a financing agreement of €78 million for phases 1 and 2 of One Cotroceni Park Office, with financing provided by Banca Comercială Română S.A., BRD Group Société Générale S.A., and Erste Bank A.G.
Considered one of the largest urban regeneration projects in Bucharest, One Cotroceni Park is developed on a 5.8-hectare site, formerly occupied by the Ventilatorul factory. This sustainable development has completely revitalized the entire area, proposing an integrated real estate concept with mixed-use facilities including residential, office, and commercial spaces.
One Cotroceni Park 1 and One Cotroceni Park 2 reached occupancy levels of 94% and 90%, respectively, reflecting strong demand for sustainable and high-quality workspaces. The office spaces are LEED Platinum and WELL Health & Safety certified, attesting to sustainable operations with minimal environmental impact, as well as prioritizing occupant well-being and ensuring optimal workplace conditions. These spaces already host renowned international companies such as Siemens Energy, Ford, Superbet, Stripe, and BAT Global Business Solutions. The residential component comprises approximately 900 high-end apartments, complemented by a diverse range of commercial spaces offering leisure, dining, sports, and relaxation options.
With the completion of its two office phases and the residential component, One Cotroceni Park is contributing to the development of a new community in a central area of the city that has seen limited major interventions in recent years. This development has had positive effects both aesthetically and in terms of enhancing the quality of life in the area. Economically, it has also sparked increased interest in the neighbourhood, fostering growth and revitalization.
One Cotroceni Park represents just the first phase of a much larger urban development, which will continue with One Cotroceni Towers. Together, these two will form one of the largest developments in Bucharest, known as One Cotroceni City, spanning over 10 hectares of land.
