Glenway Holdings Group (GHG) is a progressive specialist property development company established to deliver quality construction projects on time and within budget. Our company is focused on residential, mixed-use and commercial office & industrial developments in prime locations in Romania & Bulgaria, Our company ethos is to provide our clients and partners with a superior service by continually improving our quality processes, providing exceptional management capabilities and by adding value through proactive and innovative solutions to our clients requirements.
Our company intends to deliver world-class developments in Romania & Bulgaria, we will consistently exceed client expectations, delight end-users, bring tangible benefits to the local communities and contribute significantly to increases in property values in the surrounding areas. GHG has acquired a development pipeline consisting of sites across prime areas in Romania & Bulgaria and will construct on these developments sites over the next number of years, GHG continues to look at development opportunities across Romania and is well placed to move quickly and decisively.
At Glenway Holdings Group (GHG), the integrity of our staff form the cornerstone of our established reputation as your partner, contact us to discuss your future investment plans and Glenway Holdings Group will help you transactions where opportunistic returns can be generated
Our mission: "GHG is committed to building long-term relationships based on integrity, performance, value, and client satisfaction".
GHG - Your Real Estate Partner
Design – Civil Engineering – Construction - Fit-Out - Maintenance - Facilities Management
Glenway Holdings Group is always seeking collaboration with Investors & Developers to work on projects in the expansion of our activities in Romania & Bulgaria Real Estate market, please contact us to discuss your proposals.
The Glenway Holding Group Team
Czech investment fund PF Real Estate, controlled by the richest man in the Czech Republic – Petr Kellner, has finalized the acquisition of the Metropolis Center office project in Bucharest. Real estate consultancy firm JLL advised PPF Real Estate on this deal, which is the fund’s first investment in Romania.
PPF Real Estate manages real estate assets worth EUR 2 billion in Russia, Czech Republic, Netherlands, Germany, and UK.
The negotiations between PPF Real Estate and Austrian group Soravia, which owned the office project, started in spring this year. The value of this deal may be close to EUR 48 million, according to market sources quoted by local M&A journal Mirsanu.ro. However, the parts involved in this deal made no announcement related to the financial terms.
Metropolis Center includes 19 sqm of office space and retail spaces and its tenants include the European Bank for Reconstruction and Development (EBRD), law firm DLA Piper, and Reckitt Benckiser.
The project, which is located on Iancu de Hunedoara Boulevard, close to the Dorobanti area and Victoriei square, has been developed on the site of the first printing house in Bcuharest, Cartea Romaneasca, dating from 1919. The developer has kept the original red brick facade.
The insolvent office project Swan Office&Technology Park was sold by Casa de Insolventa Transilvania, the insolvency administrator for this real estate project.
The sale price stood at EUR 30.3 million, which is around 50 percent above the price approved by creditors.
Six investors got in the final sale stage, each being ready to pay at least EUR 20.8 million. Smartown Investments reached a deal with CITR following direct negotiations as it offered the biggest price.
Bogdan Gorde, project manager and senior partner at CITR, said that several hundred investors have been contacted in relation with the office project and over 150 of them, of 26 nationalities, were directly interested in Swan Office Park.
„The sale of the project came as aresult of the sustained effort of CITR’s specialists that were able to grow the leasable area by over 130 percent, from 33 percent, the amount that existed at the start of the insolvency to 78 percent, at the moment of sale,” said Vasile Godina-Herlea, managing partner of CITR.
Swan Offices Park, which is located in Voluntari city, Ilfov county, has a leasable area of 29,124 sqm and a land plot of 5,000 sqm for future developments. In the complex there are three office buildings.
The buyer was assisted by law firm Wolf Theiss.
The office project has been in insolvenct since March 2013.