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Three vacant tower buildings bring losses of 1m euros/month

Three vacant tower buildings bring losses of 1m euros/month

Autor: Cristi Moga

05.04.2011, 23:47 21

Three of the tallest buildings in Bucharest, Tower Center inPiaţa Victoriei (Victory Square), Cathedral Plaza on LuteranăStreet and Millennium Business Center in the Armenească area areunoccupied because of owners' litigations, which causes losses ofat least one million euros per month.

At least 5,000 people could work in the three projects, but eachone of them is involved in some legal dispute or other: thedeveloper of Cathedral Plaza (Eyal Ofer) is in a dispute with theRoman-Catholic Archbishopric, which was granted the annulment ofthe construction permit by a court of law, the Germans at DEGI,owners of the Millennium tower, which was affected by a fire twoyears ago, are fighting in court with the designers and buildersover who is to blame for the fire, while the owners of Tower Center(Avrig 35 and Industrialexport) are fighting each other, as well asAlpha Bank in court. The bank was supposed to have occupied thebulk of the building about two years ago.

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