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Office Market News

Office development market, resilient: MIRO, a new office project started by Speedwell in 2020

MIRO will offer tenants Class A office space with premium and innovative design, along with a comfortable work environment in a 5-storey building with a total leasable area of 23,000 square meters. Each level has a flat floor of 4,750 sqm, and the ratio of parking spaces to rentable area is 1:40.

Dimitris Raptis is appointed Chief Executive Officer of Globalworth Group

Globalworth, the leading office investor in Central and Eastern Europe (CEE), announces that Dimitris Raptis is appointed sole CEO of the Group. Ioannis Papalekas is stepping down as CEO of the company effective 15th of December 2020.

Dentotal distributor moves its offices to Equilibrium I office building

Dentotal rented a 650 sq m office space in the Equilibrium I building, assisted by the consulting company ESOP Consulting.

S IMMO bought Campus 6.2 and Campus 6.3 office buildings in Bucharest from Skanska

S IMMO bought Campus 6.2 and Campus 6.3 office buildings developed by Skanska in the Center-West submarket of Bucharest. The transaction volume is approximately EUR 97 mln.

Central District Viitorului 134, a new mixed project in the center of Bucharest

The real estate developer Forty Management & Investments, led by the entrepreneur Lucian Azoiței, will build about 33 apartments and 1,000 sqm of offices, whose market value, at the end of the construction is estimated at about 9.5 million euros, on a land of 2,200 sqm bought at the beginning of the year one on 134-136 Viitorului Street, in a transaction valued at about 2.1 million euros.

Felinvest completes the Cluj Business Campus, EUR 27 million total investment

The final stage of the project represents a total investment of 14 million Euros in a mixed building that includes class A office spaces and 90 apartments and was completed in June 2020. Cluj Business Campus becomes a mature project by concretizing this last stage of development .

The occupancy costs of office spaces represent 3-4% of the turnover of services companies in Bucharest

The occupancy costs of office spaces represent, on average, between 3 and 4% of the turnover of services companies in Bucharest, and they may fall even below 2%, in some cases, according to an analysis of the real estate consultancy company Cushman & Wakefield Echinox.

Catinvest to open the first Class A office building within the Electroputere Parc Craiova

Catinvest opened the first class A office building in Craiova, in the Electroputere Parc shopping center, as part of its strategy to consolidate the project in the Oltenia region.

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