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Office Market News

H&M passes the EUR 100 mln sales mark in Romania

The H&M Group’s sales including VAT increased in local currencies by 9 percent during the financial year. Sales in comparable units were unchanged. Converted into SEK, sales excluding VAT amounted to SEK 128,562 m (120,799), an increase of 6 percent.

Bankrupt developer to sell 17,400 sq. m plot in Baneasa for EUR 6.9 million

A plot of land exceeding 17,400 sq, m in Baneasa district in Bucharest, bought in 2008 with nearly EUR 12 million is put on sale for EUR 6.9 million, the owner, controlled by the Spanish group Alius, the developer of the residential complex Alia Apartments in Bucharest din Bucuresti, being declared bankrupt.

Swan Offices didn’t attract any buyer for the first auction

No investor registered for the auction scheduled for Thursday for the sale of the insolvent office complex Swan Office&Technology Park in Pipera-Tunari area in Bucharest, the starting prices being set for EUR 42.7 million.

The new underground line to the airport will have 12 stops

By 2018, inhabitants of Bucharest, tourists and everybody else looking to catch a flight or get downtown from the airport will be able to get in the subway and reach their destination in half an hour. At least that is what Metrorex is promising.

CBRE: Romanian office market to settle down between 2014-2016

The local office market has undergone major transformations between 2008 and 2013 going from a “landlords’ market in 2008” to a “tenants’ market” over the next years, according to CBRE Romania.

Fitch: Romania’s moderate financing needs make it less vulnerable to turbulence

Fitch Ratings expects the gross public borrowing requirement (GPBR) of the larger eastern-central European sovereigns of Poland, the Czech Republic,Hungary and Romania to reach EUR78.5bn in 2014 (9.5% of estimated aggregate GDP), down from EUR96bn in 2013 (12.4% of aggregate GDP).

Holcim Romania has a new CEO

Francois Petry is the new CEO of the Romanian subsidiary of cement manufacturer Holcim. He is replacing Daniel Bach who has been recently appointed area manager for South-East Asia.

Saint-Gobain Romania moves to new headquarters

The Bucharest office of construction materials producer Saint-Gobain has been relocated to Floreasca Park, in the northern part of the capital, the company has announced.

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