Lithuanian Hanner makes its debut on the office segment in Romania

Lithuanian real estate developer Hanner Holding, known in Romania for The Park, Carol Park Residence and City Center residential projects, is expanding on the local market by acquiring part of the land plot of the former Grivița Beer Factory, in center-west Bucharest, a press release informs.

This transaction marks Hanner’s entrance on the Romanian office segment.

Hanner acquired a 11,000 sqm land plot, located in Grozăvești area. The property, which also includes three buildings classified as monuments – outbuildings Mălțărie, Orzărie and Administrative Building of the former Grivița Beer Factory – was transactioned for EUR 5 million. The monuments represented an important focus of the developer, as they provide the possibility of developing a unique mixed use project, with conversions, restorations, as well as new office and residential buildings.

„Following our ten years of presence on the Romanian market, during which we developed several residential projects, we believe that is time to upscale our operations and prove our expertise in other segments of the real estate market. Grozăvești area is transforming, shaping a new office district of the city, so it was only natural for us to choose this region for our first mixed use project in Romania. It will include a generous surface dedicated to modern office spaces, with the highest standard of design and technology”, stated Mindaugas Valuckas, CEO Hanner Holding.

In Romania Hanner has invested over EUR 60 million to this date, in the three residential projects.

Globally, Hanner has developed seven office projects totalizing over 150,000 sqm, out of which 50,000 are to be delivered in the near future. Among Hanner tenants there are multinational companies such as Henkel, Johnson & Johnson, Nokia, Novartis, Rockwool, MSC, Servier or the Embassy of Israel. Hanner was recognized several years in a row as the most important developer in Lithuania. One of the flagship projects is Europa Business Center, the tallest building in the Baltic region, 148 m high.

Hanner has a vast experience in developing real estate projects, in countries such as Lithuania, Latvia, Russia, Ukraine, Belarus and Romania and is looking to invest in Germany and Great Britain.