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Office Market News

The myhive Romania’s portfolio expands with a new office building, myhive Victoria Park

CPI Property Group, one of the largest real estate owners in Europe, announces the completion of the modernization process of the myhive Victoria Park building, thus marking the local growth of an international brand launched 6 years ago in Romania.

ADP extends its lease contract in Gara Herastrău office building

ADP Romania prolonges its lease contract for another 5 years in Gara Herăstrău, a building part of the Globalworth portfolio. The total surface operated by the company is 8,300 square meters.

One United Properties acquires 5 hectares of land for a new mixed-use development, One Cotroceni Towers

One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use and commercial real estate in Bucharest, Romania, announces acquisition of a 44,863 sqm plot of land located at Soseaua Progresului 56-80, in district 5, Bucharest. One Cotroceni Towers will be developed on this plot, a new mixed-use development that will feature the highest residential towers in Bucharest, after the landmark success of the development of One Cotroceni Park.

Global tech supplier Expleo leases 3,000 sqm in Palas Campus Iași

The business hub to be developed in downtown Iași upon completion of Palas Campus, the largest office building in Romania in terms of area, will also include Expleo, a global engineering, technology and consulting company.

Over 18,000 sqm opened in the flexible office space market in 2022

In Crosspoint Real Estate’s latest market study, ”Romanian Flex Offices 2022”, the real estate company made an analysis of the post-pandemic flexible office space segment.

Equilibrium 1 announces a new tenant: FlyGo

The European online travel agency FlyGo is relocating its Bucharest offices to Equilibrium 1, the first building of the Equilibrium complex developed by Skanska in the Northern area of ​​Bucharest.

3 trends that keep the office rental market high in 2023

The strategies of companies to return to the office, amid increased inflation and the advantage of the large number of workplace facilities, lifted the office space rental market in 2022, registering a growth of 5% compared to 2021 and 20 % compared to 2020.

Around 500,000 sq. m of office spaces are vacant in Bucharest

Around 500,000 sq. m of office spaces are unoccupied in Bucharest, reflecting a vacancy rate of 15.2%, the highest availability being reported in the Pipera North, Center-West, and Floreasca – Barbu Vacarescu submarkets.

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