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Office Market News

Modern office space in Bucharest exceeds 2.5 million sqm

The stock of modern office space in Bucharest has exceeded 2.5 million square meters this year. Another 80,000 sqm will be delivered by the end of the year, according to a report of CBRE.

Immofinanz leases 16,000 sqm of its Bucharest office portfolio

Immofinanz, one of the important real estate investors in Romania, has signed since June 2016 new partnerships and extensions of agreements with tenants in the local office sector, accounting for a total of over 16,000 sqm. The company has attracted new tenants and expansions for 11,500 sqm and has prolonged existing contracts for another 4,500 sqm in seven of its class A office properties in Bucharest, according to a press release

Romania’s constructions sector down in October by 0.1 pct

The constructions works registered a drop in October by 0.1 percent compared with the same month of 2015, because of the decline in infrastructure works, while the residential constructions works went up significantly, according to the data published by the National Institute of Statistics (INS).

Tax exemption on reinvested profit comes into force on 1 January 2017

Tax exemption on reinvested profit on unlimited period comes into force on 1 January 2017, according to Government Ordinance (OG) No. 84, that is amending the Tax Code and the Tax Procedure Code, published in the Official Gazette.

Government approves construction start for subway line 6 Otopeni

The minister of Transports, Sorin Buse, announced after the Government meeting that the construction works subway line 6 Otopeni will start in the second half of 2017, linking Gara de Nord with Otopeni Airport, following an investment of RON 5.9 billion.

Dm drogerie markt opens store in Openville Timisoara

A new store of the German retailer dm drogerie markt was opened on December 8, at the ground floor of the United Business Center 2 (UBC 2) class A office building, in the Openville Timisoara project developed by the IULIUS Group.

Bucharest, on eighth place in top IT&Tech destinations from Europe and on fourth on staff growth

Bucharest is on eighth place in the IT&Tech top destinations from Europe and on fourth based on the growth of number of employees in the industry, according to a report published by real estate consultancy CBRE.

Adval Asset Management secures EUR 6.7 million financing for Banu Antonache Office Building

Adval Asset Management supported by JLL’s Capital Markets team has secured the refinancing of EUR 6.7 million for Banu Antonache Office Building.

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Alexandra Filip

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