Meta Estate Trust buys land near Victoriei Square

Meta Estate Trust has acquired land near Victoriei Square in Bucharest where it wants to develop a clinic-type office building intended for lease to a player in the private medical services industry.

The land has an urban planning certificate and is in the process of obtaining a building permit, and the development of the office building will begin in 2025. Thus, according to the requirements that the company has in the lease agreement concluded with the clinic network, Meta Estate Trust representatives estimate that the project will be ready at the beginning of 2027, and the value of the entire asset upon completion will be approximately EUR 5.5 million euros.

Meta Estate Trust is in the process of identifying and contracting a general contractor for the project, the estimated construction costs are approximately EUR 2 million. The company is also analyzing the opportunity to attract bank financing to cover the costs related to the construction phase.