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Office Market News

2016, year of growth on the office market: three times more office buildings deliveries in Bucharest , transactions 20pct up

2016 was a good year for the office rentals market. Following five years with office deliveries at lower level of maximum 125,000 sqm, registering in 2015 a minimum low of the last ten years – 85,000 sqm, 2016 registered three times increase of the new spaces offer, with 280,000 sqm.

Romania to exempt firms doing R&D from profit tax, to redefine tax regime for microenterprises

The government approved on Friday amendments to Romania’s Fiscal Code, changing the taxation regime for microenterprises and offering certain fiscal facilities for companies that are focusing on research & development (R&D) activities.

Romanian company invests EUR 3 mln in new luxury dental clinic, buys EUR 1 million building in Piata Victoriei

Local company DentalMed, which is active in the private dental care market, will open its second luxury clinic in the second half of 2017.

Samsung opens group service centre in Bucharest

The Romanian subsidiary of the South-Korean tech group Samsung opened a service center in Bucharest last year that will provide services to the group’s subsidiaries in 30 European countries.

JLL will manage the Swan Office Park in Bucharest

International advisory firm JLL is the new property and asset manager of Swan Office & Technology Park in northern Bucharest, owned by Romanian group Smartown Investments.

Number of newly set up companies with foreign capital dropped by 8.5 pct in first 11 months

The number of companies with foreign capital newly set up in the first 11 months of 2016 dropped by 8.6 pct as compared with the same period of last year, to 4,912 companies, read the data from the Romania’s National Trade Register Office (ONRC).

Office construction sites for 90,000 employees in Bucharest. Nine projects announced for 2017

More than 294,000 sq.m A class office spaces will be delivered in Bucharest in 2016, within 16 real estate projects, nearly half of the total spaces already delivered being in the northern area of Bucharest, according to CBRE.

Romanians pay fewer taxes starting January 1

Romanians will pay fewer taxes this year after a series of measures for loosening the tax policy became effective starting January 1. These include the VAT reduction, removal of the tax on special constructions, and removal of the extra excise duty on fuel.

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Alexandra Filip

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