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Office Market News

Study: 2016 – best year for Romanian real estate market since 2008, with 1 million sqm delivered

Deliveries of retail, logistic and office spaces stood at 956,000 square meters this year, up by 88 percent compared to 2015, marking the best year for the Romanian real estate market since 2008, a study by DTZ Echinox shows.

Managers in Romania estimate declines in trade and construction until February

Romanian managers expect a moderate decrease in trade and a steep decline in construction between December and February, as well as a decrease in the number of employees in both sectors, according to data published on Wednesday by the National Statistics Institute (INS).

Dedeman bought two plots in Zalău from brick manufacturer Cemacon for EUR 1.9 million

Bricks manufacturer Cemacon announced the completion of the sale transaction involving two plots of lands in Zalău, purchased by the construction materials and DIY retailer Dedeman.

Belgian and Romanian investors develop office and residential project in Northern Bucharest

Local real estate developer Millstone Developments will build a residential project with 200 apartments located near Petrom City, in Northern Bucharest and an office building near the Otopeni Airport. The market value of the two projects is estimated at some EUR 34 million.

Impact signs a contract to build six properties worth EUR 5.24 mln

Impact Developer & Contractor has closed a contract with Devbon SRL on December 16 to build in Bucharest six properties worth EUR 5.24 million, according to a release of the company to Bucharest Stock Exchange (BVB) where the company is listed.

British fund invests EUR 10 mln in Bucharest residential complex

Real estate developer British Romanian Investment Partnership (BRIP) will complete its residential complex New Residence Bucharest, built in the capital’s District 5, in the spring of 2017.

Bucharest’s new subway line to the airport will create a new office pole, says Colliers International

The government’s announcement that it will kick start next year works on a new subway line that will connect Gara de Nord with the Otopeni international airport (subway line 6) could result into the creation of a new office pole in Bucharest either in the Expozitiei or Baneasa areas, according to real estate consultancy Colliers International.

Immofinanz reports 3 pct rental income increase in H1 for Romanian properties

Austrian real estate company Immofinanz has seen its rental income increase by 2.9 percent in the first half of the abbreviated 2016 financial year, totaling EUR 22.9 million, according to company data. This represents a 14.9 percent share of the group’s total rental income, according to company data.

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