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Office Market News

IT&C, BPO and SCC companies occupied most of Bucharest's office space in Q2 2019

Companies in IT & C, BPO and SCC fields have signed contracts for 42% of the total rental, pre-lease and extension transactions of office space in Bucharest.

AFI Europe to buy NEPI Rockcastle portfolio of office buildings in Romania

AFI Europe signed a non-binding letter with NEPI Rockcastle, aquiring exclusivity in the acquisition of the fund’s office buildings portfolio in Romania

AFI Europe takes another step towards taking over Radio House, a 1 billion-euro project

AFI Europe has recently announced the conclusion of the sale-purchase pre-contract for the majority of the Casa Radio project with Plaza Centers.

Colliers, assigned Property Manager for the newest office complex developed by Vastint Romania, Business Garden Bucharest

Colliers International Romania has been assigned to provide property management services for Business Garden Bucharest, the newest office complex developed by Vastint Romania, in the Orhideea area in Bucharest.

The office area rented in the first half of the year increased by 17.6%

The second quarter of 2019 reconfirmed the increased interest for office market in Romania. Over 115,000 square meters of office space were rented over this period at the national level, a value similar with that registered in the second quarter of 2018.

ING Tech to rent its headquarters in Dacia One building

RTPR Allen & Overy has advised ING Tech, the global software development hub of the ING group, on the lease of an office space with an area of 13,000 sqm for the new headquarters of the company. The space is located in Dacia One building, next to former Victoria Casino and is developed by Atenor Group.

The M&A market regained its pace in the second quarter of 2019

The mergers and acquisitions market in Romania revealed a significant growth in the second quarter of the year, compared to the first quarter and to the same period in 2018 as well. According to Deloitte estimates, the total market value, including transactions with undisclosed value, has been between EUR 1.4 and 1.6 billion, while the value of disclosed transactions reached around EUR 790 million.

Lion's Head completes acquisition of Oregon Park, the second largest transaction in the history of the Romanian real estate market

The investment fund Lion's Head Investments, formed last year by a partnership between the oldest life insurance company in South Africa - Old Mutual and the largest real estate agency in Bulgaria - AG Capital, bought the last office buildings of the Oregon Park complex, part of a transaction worth over 170 million euros, the second largest in the history of the local market.

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Adina Camara

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