Issue link: https://maltatoday.uberflip.com/i/1475578
maltatoday | SUNDAY • 7 AUGUST 2022 14 COMMERCIAL Hili Properties plc acquires majority shareholding in prestigious Romania office complex HILI Properties plc, the strate- gic real estate investment sub- sidiary of Hili Ventures, has acquired a 75% shareholding in Baneasa Real Estate SRL, the owner of the imposing Miro of- fice building in the Baneasa area of Bucharest from major Roma- nian developer Speedwell. Hili Properties plc has also agreed to enter into an agreement for the acquisition of the remaining 25% shareholding in two years' time. Commissioned late last year, the Miro is a Class A mixed-use property boasting 23,000 sqm of leasable area spread over five floors and a 1,700 sqm outdoor plaza. It is excellently located on Bucharest's DN1 highway, pro- viding direct access to the city centre, business hubs, and the airport. Its extensive list of rep- utable tenants includes KPMG, Rovere, COS, Eaton, Neocliniq- ue, Speedwell, Stradale/Mitzu, Jura and Hisky. The Miro has been designed to be a unique, inspiring place of work, with a layout and fa- cilities that shape a motivat- ing space. The property was developed with a focus on the well-being of its occupants and on sustainability as evidenced by its BREEAM 'Excellent' and WELL 'Platinum' certifications. George Kakouras, Managing Director of Hili Properties plc, said: "We are delighted to ex- tend our portfolio in Romania with this prime asset. We look forward to collaborating with Speedwell on the management of the Miro and to increasing tenant satisfaction. Miro pre- sents us with a solid, long- term investment and perfectly fits our strategy to build on the po- tential of assets for the benefit of our shareholders, tenants and the local community. The Miro is a testimony to our vi- sion to leave a positive impact on the communities in which we invest through sustainable buildings." Didier Balcaen, CEO and Co-Founder of Speedwell add- ed: "This transaction once again proves that a quality asset al- ways attracts a quality buyer, not least because it attracts high quality tenants. We are very happy to have Hili Properties as our partner for Miro, knowing that our visions are aligned in properly managing, maintain- ing and further developing Miro as one of the key office locations in the Baneasa area." The Miro increases Hili Prop- erties' portfolio value from €173.8 million to €234.2 million and extends the total leasable area to 119,092 square metres. The company's portfolio com- prises seven grocery- anchored shopping centres across Latvia's capital Riga; a private hospital in Bucharest, Romania; proper- ties housing restaurants in key commercial districts in Estonia, Latvia, Lithuania, Malta and Romania; an industrial plant in Lithuania's Klaipeda Free Eco- nomic Zone; and three dedicat- ed business blocks and office space in Sliema, Marsa and Flo- riana in Malta. Its tenants include Premier Restaurants, Swedish-owned supermarket giant Rimi, Nor- wegian newsagent/convenience chain Narvesen, and interna- tional industrial materials man- ufacturer Rehau. EMERGING Lions Leadership Institute (E L L I ) - Training to prepare Lions for leadership posi- tions, was organized by Past Zone Chairperson Lion Judith Debono of Lions Provisional Zone Malta. This training was conducted by Dott. Massimo Di Pietro and was held at Victoria Hotel over a three-day period. This course was intensive and very well attended. It was ex- tremely informative apart from being a wonderful and fruitful experience. Participation by all Lion mem- bers, who worked together dur- ing the various sessions, made the training course a highly suc- cessful one. ELLI trains prepares Lions for leadership positions