Meta Estate Trust Secures a New Real Estate Investment in Central Bucharest and Expands into the Healthcare Market
Meta Estate Trust (stock symbol MET), a holding company operating in the real estate sector, has acquired a plot of land near Piața Victoriei in Bucharest, where it plans to develop a clinic-style office building to be leased to a player in the private healthcare services industry.
The land has an urban planning certificate and is currently in the process of obtaining a building permit. The development of the office building is expected to begin in 2025. Based on the requirements outlined in the lease agreement signed with the clinic network, Meta Estate Trust representatives estimate the project will be completed in early 2027, with the total value of the asset at completion projected to be around €5.5 million.
"The investment in the land at Piața Victoriei, which gives us exposure to a new segment—private healthcare services—is part of a recently announced strategic development direction. We aim to balance the investment risk in our portfolio by increasing recurring revenue. By investing in commercial assets that generate predictable income, we gain strong visibility into our financial performance and reduce our exposure to real estate market cycles. This project, along with the four developments planned for Penny, will support our long-term growth outlook. We will begin developing the property in line with the lease agreement, and we estimate the building will be completed by early 2027,” said Alexandru Bonea, CEO of Meta Estate Trust.
According to him, Meta Estate Trust is currently in the process of identifying and contracting a general contractor for the project. The estimated construction costs are approximately €2 million. The company is also exploring the opportunity to secure bank financing to cover construction phase expenses.
The finalization of the transaction is subject to certain conditions precedent, including a favorable outcome of a detailed legal due diligence process and obtaining the building permit.
In the first half of the year, the group reported a net profit of 6.3 million lei, double that of H1 2023, and revenues of 19.2 million lei, up from 6.6 million in the same period last year. MET shares are down 7.5% year-to-date, with a market capitalization of 66.5 million lei on the AeRO market.
