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Romanian Commercial Real Estate Market: A Dip in Q3, But Optimism Ahead

CBRE launched its traditional end of quarter research snapshots of the local commercial real estate market, analysing the status of the investment, office, industrial & logistics and retail sectors.

RIVER PLAZA office building, certified in sustainability with BREEAM IN-USE VERY GOOD

River Plaza, a class A office building, centrally located in the Timpuri Noi HUB, on the bank of Dâmboviţa river, officially becomes a green building, obtaining the BREEAM In-Use Very Good certification at the end of the second quarter of this year.

Hagag starts construction works for the restoration of Stirbei Palace in Bucharest

Real estate investor-developer Hagag Development Europe started the construction works for the restoration and consolidation of Știrbei Palace on Calea Victoriei. H Știrbei Palace is the company’s first retail project – a concept designed to meet the specific needs of the premium market segment.

Workspace Studio expands its showroom to reflect current trends in office design

Studies on the future of offices and work point towards flexibility, varied design and focus on employee needs. In this context, Workspace Studio, specialized in high-quality office design and fittings and Certified Dealer of the MillerKnoll group in Romania, completed the expansion of its showroom located on the 18th floor of the Sky Tower Bucharest building, to reflect the current trends in modern office design.

Nhood Romania announces the new Executive Committee

Following the structuring of real estate services around three business lines – Property & Asset Services (P.A.S.), Resources & Fund Investment (R.F.I.), Development (DEV.) – the new executive committee of Nhood Romania is made up of 3 directors, one for each business line: Gabriela Piștalu – PAS Director, Elena Bocan – RFI Director and Ruxandra Dragomir – DEV Director. The new governance of Nhood Romania will report directly to the management committee of Nhood Corporate, based in Lille, France.

In the third quarter of 2023, companies leased offices for approximately 20,000 employees in Bucharest

The interest of office tenants was much higher for contract extensions in existing buildings than for new spaces in the third quarter. The companies traded a total area of 158,923 sqm, of which 104,004 sqm were contract extensions and 51,879 sqm leases of new spaces, in Bucharest, according to the analysis made by Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance.

CBRE takes over the management of the U-Center 1 office building, owned by Pavăl Holding

CBRE has become the property manager of U-Center 1 office building, developed by Forte Partners and currently owned by Pavăl Holding. CBRE will manage all aspects of the property in relation to tenants, subcontractors, and authorities.

Medialine moves its headquarters to One Cotroceni Park

One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania announces the conclusion of a lease contract for the relocation of the company Medialine within the One Cotroceni Park development. The contract has been signed for a duration of 8 years. Medialine's new headquarters, a top provider of IT infrastructure solutions tailored to the diverse needs of businesses, reflects Medialine's commitment to providing its employees with a pleasant and modern working environment in line with sustainability principles.

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