Nooka Space, the company who designed the first smart proximity office network in the world, back in 2020, introduces the concept of flex office on demand in airport waiting areas, to provide passengers with private spaces to work or relax, while waiting for their flight. As such, Nooka Space launches Nooka Air, a smart office booth designed to offer better airport experience during the waiting hours in terminals.
The Hermes Business Campus office project, part of the Hungarian real estate investment fund Adventum Group’s portfolio, has achieved the Access4you® certification, becoming the first complex in Romania to hold accessibility certification for wheelchair users, the Elderly, people with limited mobility, and people with strollers.
Romania’s 10-year Eurobond yield has recently surpassed the 8% level compared to below 2% three years ago, while for countries in the region, as well as for major economies such as Germany, the increase has been significantly lower.
The real estate and construction sector has attracted around 12 billion euros of foreign direct investments (FDI) in the last ten years, as the share of this economic activity in the overall FDI stock increased to a level of 17.4% at the end of 2021, compared with 9.2% in 2012, according to data from the National Bank of Romania analyzed by the Cushman & Wakefield Echinox.
GTC real estate company has announced one of the most important lease transactions of the year. Alpha Bank Romania, part of Greek Alpha Bank Group, will be relocating part of its operations to City Gate North Tower starting January 2023.
PPF Real Estate announces the launch of the first stage of the ARC office development project by clearing the existing structures on the site. The company has acquired a construction site in an extended Bucharest center with a building permit. The planned ten-story class A office building is due for completion in 2025.
Globalworth, the leading office investor in Central and Eastern Europe (CEE), is pleased to announce the appointment of Dennis Selinas as the new CEO of the Group. The Board of the company and Dimitris Raptis, CEO, have agreed for Mr Raptis to step down from his role as CEO and as a member of the Board with effect from 31 December 2022, but he will continue to support Globalworth in an advisory role. Mr Raptis joined the Board of the Company as Deputy CEO and Chief Investment Officer ahead of its IPO on AIM in 2013, later becoming CEO during 2020.
The office market is going through a period of stagnation, recording demand values similar to those of 2021. Deliveries of office space have slowed down and will remain at a low level in 2023, according to JLL.
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