Euro Tower, the first “green” office building in Bucharest, an investment worth EUR 60M

The development covering a rentable surface of 18,000sqm is the first “green” building in Bucharest as well as one of the tallest, reaching a height of 80 meters. Designed by the Romanian architect Dorin Stefan, Euro Tower will feature 18 above ground floors and five underground levels which will include approx. 200 parking places. The Construction Management is performed by Bovis LendLease from the UK while financing is provided by Banca Romaneasca and Piraeus Bank. The Euro Tower building is strategically located at the junction of Barbu Vacarescu Street and Lacul Tei Boulevard, with subway, tram and bus in the immediate vicinity.

Following the requirements included in the international Green Building certification system, Euro Tower will be provided with vegetated rooftops and green areas open to general public. Besides being located close to all public transportation, Euro Tower offices will come with solutions encouraging the use of bicycles by individual employees. Indoor comfort and productivity of the tenants` employees will be enhanced by floor plates maximising exposure to natural light and sweeping views over the city. Also, the increased ventilation and sophisticated heating systems will benefit from individual control of the tenants, encouraging energy savings and enabling individual needs and preferences. This makes energy savings to tenants possible of up to 30% compared to a usual A class building.

“Given today’s labour market shortages`, attracting and retaining key employees is one of the main challenges faced by both small and large corporations a like. Companies are looking for ways to differentiate themselves in order to be the employer of choice. Employees, in their turn, are currently choosing one employer over another also based on the accessibility of their workplace in terms of location and, most importantly, travel time. Employees prefer a work environment with abundant natural light, unobstructed views, increased ventilation and of course, amenities which enhance their comfort during office hours. This is why the concept of “green” building is so fitting for both employer and employee”, declared Alex van Breemen, general manager with Cascade Group.

Cascade group is a fully owned subsidiary of East & Central European Venture Capital Bv., a fund registered in the Netherlands, which has been funding commercial and residential real estate developments on the European emerging markets. The most recent development undertaken by Cascade Group is Cascade Offices, a A-class office building covering 5,000 sqm arranged on six levels, located on Buzesti street, in Victoriei area. The building was completed in 2005 following an EUR 12M investment. Cascade Offices was sold to British fund Fabian the same year. Future development plans by Cascade Group include large residential and retail projects in the Eastern area of Bucharest.