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Office Market News

Societe Generale leases 4,000 sq m in West Gate business park

The West Gate Business park in Bucharest will add 4,000 square meters to the contract with Societe Generale European Business Services. The West Gate spaces rented to the French company total 12,700 square meters.

JLL: EUR 12.56 bln put into CEE-based property in 2016; Romania – EUR 890 mln

The property investments in Central and Eastern Europe amounted to EUR 12.56 billion in 2016, representing a 42 percent increase compared with 2015 and the third highest CEE regional investment volume since 2007, when they stood at EUR 15.81 billion.

Huawei took three more floors in Globalworth Tower reaching 10,000 sqm offices

Chinese telecommunications company Huawei signed a new agreement with Ioannis Papalekas for its expansion from 4,000 to 10,000 sqm of the office space occupied in Globalworth Tower, the second tallest building in Romania, with 23 floors and 54,000 sqm area.

Skanska invests EUR 38 million in new office project in Bucharest

Skanska Construction Romania, owned by the Swedish group Skanska, will invest EUR 38 million in the first office building of the Campus 6 project located in Western Bucharest, near the Polytechnic University.

Romanian entrepreneurs may buy EUR 150 mln office park from Israeli billionaire

Romanian entrepreneurs Dragos and Adrian Paval, the owners of the biggest local DIY retailer – Dedeman, are preparing to buy the five AFI Park office buildings in Bucharest, according to sources in the real estate market quoted by local mergers and acquisitions journal Mirsanu.ro.

Ikea plans EUR 500 mln investments to open more stores in Romania

Swedish retailer Ikea announced it plans total investments of EUR 500 million to reach a number of nine stores in Romania. The company currently has one store open in the Baneasa area of Bucharest, with a second one set to open in the capital, on Theodor Pallady boulevard, in 2018.

America House office building in Bucharest put on sale

Real estate institutional investor AEW Europe, owned by Natixis and La Banque Postale, put on sale the office building America House in central Bucharest district, after almost ten years from its acquisition with a record yield, according to sources in the real estate market.

Following merger with Carpatica, Patria Bank relocates to Nusco Tower

Patria Bank will relocate starting this spring, following completion of merger with Carpatica Bank, to a new headquarters, in Nusco Tower – an office building in northern Bucharest. The lease is signed for nearly 3,000 sqm offices.

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