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Office Market News

Who should be in the driving seat of the real estate innovation

The prolific change of 2020 has shaped the real estate industry more than anything else in decades. The digitization had been underway before the pandemic, but the speed of that shift has accelerated in ways that nobody could have predicted.

IMMOFINANZ acquires Bucharest Financial Plaza and plans renovation into a sustainable myhive landmark building

IMMOFINANZ has acquired the Bucharest Financial Plaza office building, in a prime central location close to the historic center of Bucharest. The property is being sold by Banca Comercială Română (BCR), the largest financial services group in Romania and a subsidiary of the Austrian Erste Group Bank. The building, with gross rentable space of around 27,700 sqm (post-conversion), was BCR’s head office until last year. The costs of the transaction amount to approximately EUR 36.0 million.

Portland Trust announces achievement of the WELL Health-Safety Rating for EXPO BUSINESS PARK

Portland Trust announced that it has earned the WELL Health-Safety Rating for its EXPO BUSINESS PARK in Bucharest through the International WELL Building Institute (IWBI). The WELL Health-Safety Rating is an evidence-based, third-party verified rating focusing on operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment now and into the future.

Crystal Tower, the next 'home' for your business

Featuring modern, sophisticated and elegant architectural design and endowed with the first rooftop heliport, Crystal Tower office building has become a landmark in Bucharest, attracting over the past year tenants such as Ceetrus Romania, Editec and Reckitt Benckiser.

The office market neared the 3 million square meters milestone

2020 was one the poorest in the last decade for the Bucharest office market in terms of demand, reflecting uncertainties generated by the effects of the Covid-19 pandemic on the tenants’ plans.

The land market in Bucharest in 2020

Romanian housing developers, along with German retailers such as Kaufland and Lidl, were the most active buyers of land in the Bucharest-Ilfov area during 2020, according to the Bucharest Land Marketbeat report by real estate consulting company Cushman & Wakefield Echinox.

People want a clear separation between work and home

Although the COVID-19 pandemic has undoubtedly changed the way we work around the world, people's attitudes on this issue continued to evolve.

The MIRO office building, developed by Speedwell, obtains highest level of WELL Building Standard in Romania

Speedwell, one of the most dynamic developers on the Romanian market, joined hands with BuildGreen and obtained the WELL v2 certification for MIRO, the class A office project developed by the Belgian company in the northern part of Bucharest. This is the highest level of WELL certification obtained to date in Romania, as well as the first project certified under the new, stricter version of this methodology.

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