Bucharest, August 23, 2007 – Real-estate developer Cascade Group has broken ground on its latest A-class development, named Euro Tower, located in North-Central area of Bucharest in an investment expected to exceed EUR 60M.

The development covering a rentable surface of 18,000sqm is the first Green Building in Bucharest as well as one of the tallest, reaching a height of 80 meters. Designed by the leading Romanian architect Dorin Stefan, Euro Tower will feature 18 above ground floors and five underground levels which will include approx. 200 parking places. The Construction Management is performed by Bovis LendLease from the while financing is provided by B anca Romaneasca and Piraeus Bank.

The Euro Tower building is strategically located at the junction of Barbu Vacarescu Streetand Lacul Tei Boulevard, with subway, tram and bus in the immediate vicinity.

Following the requirements included in the international Green Building certification system, Euro Tower will be provided with vegetated rooftops and large green areas open to general public. Besides being located close to all public transportation, Euro Tower office s will come with solutions encouraging the use of bicycles by individual employees. Indoor comfort and productivity of the tenants` employees will be enhanced by floor plates maximising exposure to natural light and sweeping views over the city. Also, the increased ventilation and sophisticated heating systems will benefit from individual control of the tenants, encouraging energy savings and enabling individual needs and preferences. This makes energy savings to tenants possible of up to 30% compared to a usual A class building.

“Given today’s labour market shortages`, attracting and retaining key employees is one of the main challenges faced by both small and large corporations a like. Companies are looking for ways to differentiate themselves in order to be the employer of choice.

Employees, in their turn, are currently choosing one employer over another also based on the accessibility of their workplace in terms of location and, most importantly, travel time. Employees prefer a work environment with abundant natural light, unobstructed views, increased ventilation and of course, amenities which enhance their comfort during office hours. This is why the concept of green building is so fitting for both employer and employee”, declared Alex van Breemen, general manager with Cascade Group.

By going green, Euro Tower will determine substantial savings of tenants’ operating costs, an optimal work environment for employees and a significant contribution to the environment in terms of reduced energy consumption and a clean environment.  Cascade Group hopes that this first Green Building , EuroTower, will encourage more Green developments in Bucharest .