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Office Market News

Michelin to relocate in Global City

The tire manufacturer Michelin signed a lease agreement for 4,000 sqm office space in Global City Business Park from Bucharest.

UNPIR launches sales portal for goods of insolvent firms

The National Union of Insolvency Practitioner in Romania (UNPIR) launched the online platform www.licitatii-insolventa.ro that allows any UNPIR member to sell goods of insolvent firms.

Real estate transactions could reach EUR 400 mil. according to DTZ

Real estate transactions could increase this year to EUR 400 million, considering the interest shown by the potential investors, considers Cristian Ustinescu, the Investment Director of DTZ Echinox, as the foreign investors are more confident in the market potential than the local ones.

Kingfisher to pay EUR 75 mil. for Bricostore chain in Romania

The British DIY grup Kingfisher will pay EUR 75 million for the 15 stores of Bricostore in Romania, less than the net value of the assets, has declared a source connected to the deal to Bloomberg, cited by Mediafax.

The first logistic park in North-Eastern Romania, inaugurated on Thursday

The first logistic park in North-Eastern Romania was inaugurated on Thursday in Letcani village, in the district of Iasi.

Why tall buildings are hard to lease

Although well situated, near metro stations, have good visibility and could bring image for the companies, the tallest buildings in the country are hard to lease.

Decrease of the occupancy rate on Bucharest office market

In the first quarter of 2013, the non-occupancy rate increased from 18.5% to 20.5%, due to the deliveries from the 1Q, approx. 70,000 sqm, says Daniela Popescu, Research Director of Colliers International.

More cash on the real estate market: 26% increase for transactions, 10% mortgage decrease

The number of real estate transactions increased with 26% in the first quarter of this year comparing to the same period of 2012, reaching 187,712, while the mortgages registered were reduced by 10%, according to ANCPI (National Agency of Cadastre and Real Estate Advertising).

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