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Office Market News

INS revises Romania’s economic growth in 2015 from 3.8 pct to 3.9 pct of GDP

Romania’s economy went up by 3.9 percent of GDP in 2015, over the previous estimations, that indicated an increase of 3.8 percent due to a strong increase in the consumption, stimulated by the TVA reduction to food, according to new semi-defined data published by the National Institute of Statistics (INS). Although it increased the growth rate, INS made a downward revision on the GDP value, taking into account that the deflator has strongly decreased.

Globalworth obtains BREEAM Excellent certification for Gara Herastrau office building

Globalworth, a real estate investment company focused on unique property investment opportunities in South Eastern Europe and Central and Eastern Europe, primarily in Romania, obtained the BREEAM Excellent certification for “Gara Herastrau”, its 12,100 sq.m. office project launched this year in Bucharest, Romania. For the green certification process, Globalworth appointed an association formed of consultancy companies Colliers International and BuildGreen Romania.

Colliers International named Property Manager for Stefan cel Mare building

Real estate consulting company Colliers Internațional will provide property management services for office project Stefan cel Mare Building, developed by Forte Partners in a central area of Bucharest. With this new project, the portfolio currently managed by Colliers International team exceeded 250,000 sqm, up by 30 percent in 2016.

Swiss company SIG Combibloc invests EUR 4 mln in Cluj center within The Office

Swiss company SIG Combibloc, global leader in packaging for food and beverages, opened on December 15 the first Business Services Center in Europe, in Cluj-Napoca, following a EUR 4 million investment.

AFI Europe Romania leases 6,000 sqm in AFI Park 4&5

Real estate developer AFI Europe Romania has signed several new lease contracts for over 6,000 sqm of office space in AFI Park 4&5, the company has announced.

The Office secures BREEAM Excellent certification for second development phase

The second development phase of The Office in Cluj-Napoca developed by NEPI and Romanian entrepreneur Ovidiu Sandor has secured a BREEAM Excellent certification, according to BuildGreen, the company that managed the certification process.

NEPI merges with Rockcastle

Real estate group NEPI, also present on the Romanian market, and Rockcastle are to merge and create a new entity, NEPI Rockcastle PLC, registered in the Isle of Man. The transaction will have an exchange ratio of 4.5 Rockcastle shares for 1 NEPI share.

Foreign direct investment in Romania reaches record level of the last eight years

Foreign companies made direct investment in Romania worth EUR 3.73 billion in the first ten months of the year, up 9% compared to the same period last year.

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Alexandra Filip

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