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Articles

Equilibrium 1 announces a new tenant: FlyGo

The European online travel agency FlyGo is relocating its Bucharest offices to Equilibrium 1, the first building of the Equilibrium complex developed by Skanska in the Northern area of ​​Bucharest.

3 trends that keep the office rental market high in 2023

The strategies of companies to return to the office, amid increased inflation and the advantage of the large number of workplace facilities, lifted the office space rental market in 2022, registering a growth of 5% compared to 2021 and 20 % compared to 2020.

Around 500,000 sq. m of office spaces are vacant in Bucharest

Around 500,000 sq. m of office spaces are unoccupied in Bucharest, reflecting a vacancy rate of 15.2%, the highest availability being reported in the Pipera North, Center-West, and Floreasca – Barbu Vacarescu submarkets.

2022, the best year in the last 15 for the Romanian investment market

The Romanian investment market recorded transactions of over 1.25 billion euros last year, well above the 890 million euros result in 2021, ticking the highest value since 2007, according to the 2022 Annual Report released by Colliers. The market volume was boosted greatly by the closing of CA Immo’s divestment of their office portfolio in Romania, a 377 million euros deal, which has also set a new record for the largest deal closed on the local market.

2022 Annual Report - Trends in Bucharest office market

Given the generally difficult economic context, 2022 was decent enough for the Bucharest office market in terms of demand, with the first half of the year very solid and comparable to the good times before the pandemic, while the second semester was rather comparable to 2021. Overall, total demand saw an increase of some 6% versus 2021, to around 279,000 square meters, while new demand jumped some 17% compared to 2021, to 122,000 square meters, according to the 2022 Annual Report released by Colliers.

How real estate investments will evolve in 2023. Top 3 trends that will shape the market

The real estate market hit a record investment in 2022, when it managed to exceed a historic milestone of 1.25 billion euros, an increase of 36% compared to the previous year, according to the latest CBRE report - "Market Outlook 2023".

Egis has rented an office space within America House

French engineering and construction group Egis has rented 1,100 sqm office space in America House in Bucharest. The Romanian branch of the company will move into its new headquarters in the summer of 2023.

Global Vision has acquired Nova Building, which will be transformed into a smart sustainable building

Global Vision has acquired Nova Building – an office property located in Northern Bucharest (Dimitrie Pompeiu area), with a constructed area of 8,300 sq.m. Following the acquisition, the building will be refurbished to incorporate sustainable features, it will undergo a rebranding process, and its new name will be Corner Office Building. The overall value of the investment is expected to exceed 12 million euros.

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