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Office Market News

2019 will be a record year in terms of new deliveries in Bucharest

The real estate development activity could double in 2019 compared to 2018, if all the projects scheduled for this year will be completed, data from the JLL Bucharest City Report show.

Medium companies that offer services for corporates have rented 32% more spaces in office buildings, compared to last year

In the first half of 2019, SMEs, companies with up to 250 employees, rented, pre-rented and extended office space contracts for a cumulative area of 86,870 sqm, 10% more than in the same period of 2018.

Romania remains an outlier in the CEE region in H1 2019

The Romanian real estate market recorded good results in the first half of 2019, with activity on office and investment segments getting more dynamic than that of some CEE peers. With the full year GDP expansion figure likely to top 4%, Romania also remains an outlier in terms of economic performance when compared to other CEE economies.

Timpuri Noi Square reaches 90% occupancy rate and is preparing for further development

Timpuri Noi Square, Vastint Romania’s first project, reaches an occupancy rate of 90% within the 3 buildings situated in Bucharest, leasing more than 47.000 m², and welcomes since last year tenants like Bolt (formerly Taxify), Allergan, Exiger and Streamwide, developing a community of more than 3.000 employees.

1.1 million Euros investment in a 2,100 sq.m. fitness club in Vox Technology Park

Vox Technology Park from Timisoara leased 2,100 square meters to Nextfit, which will open in November an fitness club within the office project.

Investments of 410 million euros in Romanian real estate projects

The investment volume from the first semester of 2019 amounted to approximately 410 million euros, up 6% compared to the similar period of last year, when investments were made on the local market with an investment value of 386 million of euros, according to Cushman & Wakefield Echinox calculations and estimates.

Vertiv takes 4,500 sq m office space in Cluj-Napoca

American company Vertiv signed a rental transaction of 4,500 sq m office space in the Advancity Business Center building, located in the central area of Cluj-Napoca.

Mindspace brings over 400 employees to the coworking spaces in Bucharest, by signing with another five companies

Accenture, Hootsuite, Founder Institute, KPMG and InnovX - BCR Business Accelerator chose for their teams the high-end and all-inclusive coworking spaces in Mindspace Business District and Mindspace Victoriei. In total, over 400 employees of the 5 companies thus become part of the global Mindspace community of over 14,000 members.

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