Acquisition of Land Plots in Bucharest

RNS Number : 0997K

Globalworth Real Estate Inv Ltd

20 June 2014

 



Globalworth Real Estate Investments Limited

Acquisition of Land Plots in Bucharest

Guernsey, 20 June 2014: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or "the Company"), the real estate investment company targeting opportunities in Romania and the broader SEE and CEE regions, is pleased to announce the acquisition of various land plots destined for commercial (office and retail) development.

The land plots, which comprise circa 30,000 square meters in total, are located next to the Company's BOB/BOC/Upground complex.  The total purchase price paid is circa Euro 14.3 million.

The land plots occupy an excellent location on top of the Pipera metro station at the corner of Dimitrie Pompeiu Boulevard and George Constantinescu Street.  The Dimitrie Pompeiu corridor has in recent years become the largest business hub in Romania mainly hosting back office operations of multinationals and financial institutions.

For further information visit www.globalworth.com or contact:  

Panmure Gordon (Nominated Adviser)                             Tel: [phone]

Nicola Marrin

Freddy Crossley

Cantor Fitzgerald Europe (Joint Broker)                            Tel: [phone]

Rick Thompson

David Foreman

Milbourne (Public Relations)                                               Tel: [phone]

Tim Draper

About Globalworth:

Globalworth Real Estate Investments Ltd is a real estate investment company founded by real estate investor and developer Ioannis Papalekas to take advantage of investment opportunities in Romania and the broader SEE and CEE regions and currently focussing its activities in Romania. The company is Guernsey incorporated and registered as a closed-ended collective investment scheme by the Guernsey FSC. The Company's shares were admitted to trading on AIM in July 2013.

The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania and the broader SEE and CEE regions in search of higher yielding investments. As a result, Romania and the broader SEE and CEE regions should, in due course, become more attractive destinations for a wide investor audience. Globalworth anticipates holding an early mover advantage in these markets and benefitting from this gradual shift in investor sentiment.

 

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