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Office Market News

Telekom sells Floreasca land for more than EUR 18 million to One United Properties

Telekom Romania has sold for over 18 million euros a 25,839 sqm plot of land on the shores of Lake Floreasca in Bucharest, to One United Properties. It is the biggest land transaction on the real estate market in Bucharest this year.

Globalworth attracted 46m euros from BCR for the development of Renault Bucharest Connected office project

Globalworth, one of the most important investor in Central and Eastern Europe, has received a € 46 million loan from the Romanian Commercial Bank (BCR), which will be invested in the development of the office project Renault Bucharest Connected.

Friborg Development to sell the Liberty Technology Park office project in Cluj-Napoca

Friborg Development, the company controlled by local businessman Ion Sturza, is looking for a buyer for the Liberty Technology Park office park developed in Cluj-Napoca.

Belgian real estate developer Atenor to start a new office project in Bucharest’s Expozitiei area

Belgian real estate developer Atenor, the owner of Hermes Business Campus in the Pipera area in Bucharest, will start early in 2019 the development of a new office project on Expozitiei Blvd in Bucharest.

Nearly 30pct of the employees in Bucharest are working in modern office buildings

The number of employees working in Bucharest in Class A and B office buildings could rise up to 270,000 by the end of this year, as in the first half of the current year the number reached approximately 253,000, rising by 3,000 compared to the beginning of the year, shows a study conducted by C&W Echinox.

Immofinanz registered EUR 23.6 million rental income in H1 2018

Immofinanz properties in Romania have a value of 807.7 million euros, 19% of the Austrian company's total portfolio, and in the first half of the financial year 2018 rental income totaled 23.6 million euros, or 19.8% of the group's revenues, shows the company's financial report.

The office space market in Bucharest reaches the lowest level of vacancy rate in recent history

The vacancy rate on the office space segment in Bucharest in the first half of 2018 reached a historic minimum for the past 9 years, standing at 8%, and the modern office space stock in the capital reached 2.79 million square feet.

Top deals on Bucharest office market in Q2 20018

According to a recent top published by the Bucharest Real Estate Club, an important place in the office transactions top is occupied this quarter by the newcomers in the co-working segment, as two new international groups entered the local market: Mindspace and Spaces.

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