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Office Market News

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.

One United Properties prepays the EUR 20 million bonds issued by fund managed by CVI Dom Maklerski 10 months before maturity

One United Properties announces the prepayment of EUR 20 million bonds with a 4-year maturity, acquired in total by a Polish investment fund which assets are managed by CVI Dom Maklerski (CVI) along with Noble Funds TFI, with approximately 10 months before maturity.

The investment market increased by 37% last year, but may see a dip in 2021 as some uncertainties remain on the horizon

The “year of the pandemic'' turned out to be one of the peaks of the current economic cycle in terms of investments in commercial real estate assets, with a growth of 37% over 2019, to almost 900 million euro. 2021 may see a dip, as some buyers may remain on the sidelines amid a lack of clarity about the future revenue stream, according to the 2021 annual report released by Colliers.

HAGAG Development Europe starts construction works on Tudor Arghezi 21

Real estate developer HAGAG Development Europe starts construction works on its property near University square. H Tudor Arghezi 21 is the second office project that the company is developing on the local market, and the investment in the reconversion of the building will exceed EUR 4 MLN. The project is fully leased.

Alexandru Cristea, appointed CEE Managing Partner of ONLINE REAL ASSETS

ONLINE REAL ASSETS - The Proptech real estate expert announced today that it has appointed Alexandru Cristea the CEE Managing Partner.

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