The relocation and expansion process took place in several stages throughout 2015-2017, reaching a total area of over 27,000 m2 rented by NOKIA within Bega Business Park. The company is thus the largest occupier of office space outside Bucharest. NOKIA occupies the entire first 15,700 m2 building, expanding by another 1,420 m2, and pre-leased 10,230 m2 in two park buildings to be delivered in 2018, a process assisted by the real estate consultancy company ACTIV Property Services.
"Bega Business Park is located in the central area of Timisoara, only 500 meters away from the historical centre. The location and modern features of the park have convinced NOKIA to open offices here, now expanding to more than 27,000 m2. The success of reconfiguration of the first building led to the construction of a new 14,000 m2 building, over 70% of the area being pre-let by NOKIA", says Felicia Vasiu, manager of ACTIV Property Services Timisoara's office.
Bega Business Park is one of the main office projects in progress in Timisoara, with a total rental area of 73,000 m2 at completion. The first building of the 15,700 m2 park was delivered in 2015 by the conversion of a former hall into Class A office space. At present there is a construction of two park buildings with 7 floors and a leasable area of 14,000 m2, to be completed in the first part of next year. The park is scheduled to include three other buildings similar to the one under construction.
The office market in Timisoara has registered record activity over the past year, with major rental transactions totalling more than 45,000 m2. The demand comes mainly from IT & C companies, which are continuing to expand and consolidate their offices in modern facilities. With an existing stock of 185,000 m2, Timisoara is the third largest market in Romania after Bucharest and Cluj-Napoca. (Source: constructiv.ro)
