AAGREEMENT ON THE SALE OF DACIA ONE PROJECT
La Hulpe, August 16, 2021
ATENOR announces that an agreement has been concluded with Paval Holding, owner of the Romanian DIY retail business “Dedeman”, for the sale of its Romanian subsidiary Victoriei 174 BD srl. The target company owns DACIA ONE, located in the historic center of Bucharest. The transaction is subject to the usual conditions precedent related to the acceptance of the building and the installation by the tenants, which is scheduled for the end of September 2021.
The project includes two buildings: a listed historical monument (1,500 m²) and a new building (13,500 m²). DACIA ONE offers premium office spaces that meet the highest energy performance standards and aim for BREEAM “Excellent” and WELL GOLD certifications, like all the projects currently under development by ATENOR in Romania.
The excellent location and visibility as well as the technical specifications have attracted prestigious tenants such as ING Tech, Nöerr and ESS. The building is fully pre-let.
This sale confirms ATENOR’s ability to deliver large-scale projects of the highest quality that meet the demand of local and international investors.
tenants. ATENOR takes full advantage of its urban real estate development strategy in Europe, offering lasting positive economic fundamentals.
The positive impact of this agreement on results will be observed in the second half of 2021. This sale will have a net positive impact on cash flow of around € 50 million.
As a reminder, this sale follows the sale of the company NGY srl, owner of the Hermes Business Campus project, on July 28e, 2021. ATENOR is continuing development projects in Bucharest through its Romanian subsidiaries: the @Expo office project (54,720 m²) for which the construction of the first two buildings will soon be finalized. @Expo benefits from a pre-rental rate of 24% for building B2 and discussions are being finalized concerning approximately 25% of building B1. ATENOR’s activities also include the UP-site Bucharest residential project (31,250 m²), the marketing of which is progressing favorably (54% of pre-sales).
Following this sale, the number of projects developed by ATENOR amounts to 33 and represents an area of approximately 1,300,000 m². These are located in Brussels, Wallonia and Flanders (Belgium), The Hague (Netherlands), Luxembourg, in the Paris region (France), Lisbon (Portugal), Düsseldorf (Germany), Warsaw (Poland), Budapest (Hungary ), Bucharest (Romania), as well as in London (United Kingdom).
ATENOR is an urban real estate development company with European expertise listed on the Euronext Brussels market. Its mission aims to provide, through its urban planning and architectural approach, adequate responses to the new requirements imposed by the evolution of urban and professional life. In this context, ATENOR invests in large-scale real estate projects that meet strict criteria in terms of location, economic efficiency and respect for the environment.
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Pavăl Holding is a family-owned and leadership-inspired investment entity aimed at maximizing the valuable assets that underpin responsible businesses. The holding company offers investment opportunities that nurture greater societal value, beyond shareholder returns. Pavăl Holding places its investments in multiple sectors such as DIY retail, real estate, private equity, agriculture and other economic fields, seizing strategic opportunities for long-term growth in all sectors. and geographic areas.
For more information, please contact Stéphan Sonneville SA, Managing Director or
Sven Lemmes for Weatherlight SRL, Managing Director.