Cefin and Valad in €200 mln partnership

The business park will be developed by Cheuro, a joint venture of the two investors.
A1 Business Park, initially named A1 Industrial Park, was being developed by Cefin Real Estate in eastern Bucharest, close to the Bucharest-Pitesti Highway. It was purchased last year by Teesland, for €70 million.

The two companies later decided to work on the project together.

A1 Business Park will have 80,000 square meters, of which 54,000 sqm will be used for storage facilities. Office space will be built on a further 17,000 sqm and commercial areas will be constructed on the remaining 9,000 sqm. The project is to be finalized in 2009.

The investment fund announced it plans further investments in Romania, independently or in partnership with Cefin. In the following year, Valad announced investments worth €70 mln.