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Office Market News

First acceleration fund dedicated to startups in Romania launches in Cluj

More than 30 investors from Transylvania have decided to set up Risky Business, the first acceleration fund for startups in Romania, with a value of EUR 250,000. The fund was recently launched in Cluj-Napoca.

Residential building permits down by 1.2 pct in 2016, after a 12 pct drop in December

In 2016, the number of building permissions for residential buildings decreased by year-on-year by 1.2 percent up to 38,653, on the background of a drop recorded in Bucharest, in Moldova and Walachia, data published by the National Institute of Statistics (INS) shows.

CBRE: The share of class A office stock will outperform the class B office stock by 2018

The Total Leasing Activity (TLA) for the office sector in Q4 2016 reached 144,000 sq m, the highest level on a quarter for the Romanian real estate industry, while 79 percent of TLA was represented by take-up (total transactions excluding renewals/ renegotiations), according to the latest CBRE Romania Office Market report, a press release informs.

Nearly 11,000 jobs were created in the new office buildings last year

Nearly 30 pct. of the total transactions in 2016, namely 110,000 sqm, represented expansion transactions and new office request, according to CBRE, which totals office space for 11,000 new jobs, considering the average of 10 sqm/employee.

Three in four Romanian employees think there cannot be offices without printers

Around three in four Romanian employees think there cannot be offices without printers, as on average an employee prints 38 pages/day, according to a study.

Immofinanz refurbishes five office buildings in Bucharest

Austrian real estate developer Immofinanz will invest in refurbishing five office buildings in Bucharest, with a total rentable area of 100,000 sqm.

Iulius company completed first A class office building in Openville Timisoara

Iulius Company, the only developer and operator of mixed use projects in Romania, completed the first A class office building of the seven that will be included in the Openville Timisoara, United Business Center 2 (UBC 2).

Ferrero Romania to relocate offices Globalworth Tower

Ferrero Romania, local branch of the Italian sweets producer, will relocate its Bucharest headquarters from City Gate office project in Piaţa Presei to Globalworth Tower, second tallest building in Romania.

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