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Office Market News

Real Estate Acquisitions Trends in 2014 in Romania

The largest real estate transaction in 2013 was the acquisition of the commercial centre City Park Constanta by New Europe Property Investors (NEPI) in the last quarter of last year. The total value of the transactions with commercial centres, offices and industrial facilities is estimated to EUR 330 million.

Centre-West: The Bucharest zone with potential for new office buildings

The area Floreasca - Barbu Văcărescu, the office developers’ favourite in recent years, starts becoming risky.

Bancpost finances with EUR 17 million the reconversion of City Mall to offices

Bancpost finances with approx. 17 million the reconversion works of the commercial centre City Mall to office building, according to the report of the investment fund Globalworth, controlled by the businessman Ioannis Papalekas, the owner of the building.

Office spaces rented outside Bucharest: huge growth in 2013

The area of the office spaces rented outside Bucharest has increased four times last year, to 23,128 sq. m, Cluj-Napoca occupying the first places considering the transactions volume, according to Esop Consulting.

Ovidiu Şandor: The EUR 25 mil. office building in Cluj to be 75% rented before delivery

The businessman Ovidiu Şandor, the developer of the business park City Business Centre in Timişoara, sold to the investment fund NEPI, estimates an occupancy rate of minimum 70-75% for the office building in Cluj, to be delivered in April this year, following EUR 25 million investments.

Praktiker Group is looking to sell their Romanian properties

German do-it-yourself retail chain Praktiker is seeking buyers for its Romanian operations, which include 27 stores with sales of EUR 142 million in 2012, according to Mediafax.

The constructor Atlas SA Galati entered insolvency

Atlas SA, one of the biggest constructors in Galati district, with businesses exceeding EUR 6 million in 2012, entered insolvency, according to Bucharest Stock Exchange.

EY: More companies bet on growing business in 2014

A new Ernst & Young study shows that 40% of Romanian business leaders are confident in the growth of their businesses in 2014, up from just a quarter of them in 2013. 28% of respondents foresee a significant growth of +10 to +30% for their company’s turnover in 2014 compared with 25% in 2013, while 67% expect a growth rate of +5 to +10%, compared with just 51% at the beginning of last year.

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Adina Camara

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