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Office Market News

Openville Timisoara will be inaugurated in the fourth quarter of 2018

Openville Timisoara, the largest mixed-use project in western Romania, will be inaugurated in the fourth quarter of next year with the completion of its first development phase.

Accenture opens its seventh Romanian outsourcing center in Coresi Business Park Brasov

Accenture, among the largest outsourcing and management consultancy services, is expanding its presence in Romania by opening a new center in Brasov, the seventh in the country, where it will employ 100 people in the following period.

JLL: The real estate market, supported by industrial and office projects

The industrial, logistics and office sectors in Bucharest were the engines of the real estate development market in the first nine months of the year, while the retail sector recorded the lowest growth rate in terms of projects delivered in this period.

The office and residential stock in the center-west of Bucharest to double in 2018-2019

The following three years (2018-2020) will bring for the office market in the center-west area of Bucharest (Grozăveşti - Politehnica - Vasile Milea -Orhideea-Academiei-Tudor Vladimirescu) a DUBLATION of Class A office spaces. The residential segment has also an accelerated development in the center-west. If an average of 1,050 units / year were built between 2014-2017, 2,000 units / year are announced for 2018 and 2019, according to a study by ESOP l CORFAC International.

New tenant for City Offices on 1,700 sqm

PPT Preturi Pentru Tine, the largest Romanian clothing and footwear retailer, active on the Romanian market since 2006, moved to the City Offices office building, part of the Globalworth portfolio, renting an area of 1,700 sqm.

Companies in Bucharest have leased 45,000 sqm of offices in Q3

The office market in Bucharest registered 45,000 square meters take-up in the third quarter of 2017, reaching a total of 134,000 square meters since the beginning of the year, with IT and outsourcing companies dominating the market, according to Colliers International.

A new office project in the center-western area of Bucharest, The Light

River Development announces the start of construction work on a new class A office project located in the Politehnica area in Bucharest on the site of the former Pumac factory. The first office building within the project, The Light, has a leasable area of 21,000 square meters (GLA) a 11-storey height scheme (2UG + GF + 10 floors + technical floor) and offers 293 parking spaces.

More than half of the new office buildings delivered in 2017-2019 to have integrated gardens and outdoor seating

From a total of 700,000 sqm of office space planned to be delivered in 2017-2019 in Bucharest, 56%, representing approximately 390,000 sqm class A spaces will be in office buildings that will have interior gardens or green rooftop terraces, investors having an integrated landscape in the project, according to a study of ESOP l Corfac Internațional.

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