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Office Market News

Praktiker sold its Romanian operations

Praktiker’s sale of its Romanian branch was concluded on February 24 per the company’s press release. Search Chemicals, a Romanian company funded in 2003, bought the 27-store network that Praktiker had in Romania. The transaction will not affect Praktiker’s field of activity.

Neocity, following City Park Constanta sale: We are looking for lands for residential projects in Bucharest

The residential segment has a large potential on the background of “First House” program, and the company Neocity Group is currently looking for lands suitable for residential developments in Bucharest, said Nimrod Ben-Ami, CEO Neocity Group Romania.

Financial managers more willing to restructure than invest

Financial directors of Romanian companies are focusing on business growth and lowering expenses, which means they are more willing to restructure their business than invest, according to a Deloitte poll.

Vodafone to relocate next year to Bucharest One

The mobile phone operator Vodafone, with annual turnovers of EUR 800 million and approx. 3,300 employees on the local market will relocate next year its Bucharest quarters to the office tower Bucharest One, currently developed by the Greek businessman Ioannis Papalekas between Pipera passage and Promenada mall in northern Bucharest.

The `Canary Wharf` of Bucharest, the zone where the investors are pumping one billion Euros

The former industrial platforms in the area Barbu Văcărescu – Pipera in Norhter Bucharest have been sold for years to the real estate developers, and their investments have radically changed the image of a region the real estate consultants believe to have potential to become Bucharest’s “Canary Wharf”.

Number of companies declared insolvent drops by about 15 pc

The number of companies that went into insolvency in January dropped by 14.5 per cent, down to 2,054, from 2,403 in the same period of last year, according to the National Trade Register Office (ONRC).

Coresi Brasov commercial centre to be opened in 2015

Coresi Brasov commercial centre will be opened in the first quarter of 2015, the first phase including a hypermarket Auchan, a cinema, a food-court and a commercial gallery.

Bucharest, down three positions in the top of the world’s most expensive office markets

Bucharest went down three positions, to 45th, in the top of the world’s 67 most expensive office markets, although the level of rents in central zone has slightly increased in 20013, according to a study of the real estate consultant Cushman&Wakefield.

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