One Tower class A office building, part of the multifunctional development One Floreasca City, already hosts a number of top companies, and starting with April this year, the community is growing. Saint-Gobain Group, world leader in lightweight and sustainable construction, will relocate its Bucharest offices to One Tower building, one of the first green buildings in Romania.
River Development announces that Spotawheel Romania opens their offices in Sema Parc – Paris office building. One of Europe’s most technologically advanced and fastest-growing used car platforms signed the lease for over 800 sq m office space and an additional 11,000 sq m showroom outdoor space.
One United Properties (BVB: ONE), the leading green developer of residential, mixed-use, and office real estate in Romania, announces the creation of the Environmental, Social and Governance Committee that will assist the Board of Directors in defining the sustainability strategy. It is the first-ever ESG Committee appointed by the Board of Directors of a Romanian blue-chip company.
After the initial concerned outlook on the future of the real estate market in connection with the health crisis’ all-encompassing effects, the second year of the pandemic has allowed us to draw some better informed conclusions.
At the end of the first quarter of 2022, the Bucharest modern office stock reached 3.27 mln. sq m after the delivery of three new buildings with a combined gross leasable area (GLA) of 73,500 sq m. From the total new supply, the Center-West sub-market claimed the largest share, respectively 43% with Sema Park II - Oslo & London office building developed by River Development. Together with Forte Partner’s newest office project Tandem and the first phase of @Expo developed by Atenor Group, the three new buildings have an overall occupancy rate over 70% at the end of Q1.
In Bucharest, the western area attracted the most office tenants, with rental transactions with a total area of 17,388 sqm, here deliveries are also at a record level in 2022. The surprise is the second place, the area of center-south, which quickly climbed to the top, thanks to the U Center project, in the Tineretului neighborhood, according to a study conducted by Fortim T.A., a member of the BNP Paribas Real Estate Alliance.
The office stock in the Center-West area of Bucharest, near Politehnica University, will surpass the existing stock from Floreasca-Barbu Văcarescu (which has been the main office hub in Bucharest for eight years) in 2022, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
Real estate developer Hagag Development Europe announces the lease of approximately 1,250 square meters of office space in H Victoriei 109. The new tenants, BTDConstruct & Ambient and Progetto Lusso Industrial Cluster, part of the BTD Group of Companies and strong players in the commercial and industrial construction industry, respectively engineering, architecture and design, are now fully occupying the 2nd, 3rd and 7th floor, and partially the 1st floor of H Victoriei 109, Calea Victoriei wing.
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