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Articles

S IMMO AG acquires Expo Business Park in Bucharest from Portland Trust

With the purchase of the Expo Business Park in Bucharest, the publicly listed S IMMO AG has added another high-quality office property to its portfolio.

Saint-Gobain chooses One Tower for its offices in Romania

One Tower class A office building, part of the multifunctional development One Floreasca City, already hosts a number of top companies, and starting with April this year, the community is growing. Saint-Gobain Group, world leader in lightweight and sustainable construction, will relocate its Bucharest offices to One Tower building, one of the first green buildings in Romania.

Spotawheel – one of the fastest growing tech platform in Europe, opens its business in Romania in Sema Parc

River Development announces that Spotawheel Romania opens their offices in Sema Parc – Paris office building. One of Europe’s most technologically advanced and fastest-growing used car platforms signed the lease for over 800 sq m office space and an additional 11,000 sq m showroom outdoor space.

One United Properties appoints ESG Committee to shape the sustainability agenda

One United Properties (BVB: ONE), the leading green developer of residential, mixed-use, and office real estate in Romania, announces the creation of the Environmental, Social and Governance Committee that will assist the Board of Directors in defining the sustainability strategy. It is the first-ever ESG Committee appointed by the Board of Directors of a Romanian blue-chip company.

Romanian real estate market is recovering after two difficult years

After the initial concerned outlook on the future of the real estate market in connection with the health crisis’ all-encompassing effects, the second year of the pandemic has allowed us to draw some better informed conclusions.

Defrosting signs for the Bucharest Office Market

At the end of the first quarter of 2022, the Bucharest modern office stock reached 3.27 mln. sq m after the delivery of three new buildings with a combined gross leasable area (GLA) of 73,500 sq m. From the total new supply, the Center-West sub-market claimed the largest share, respectively 43% with Sema Park II - Oslo & London office building developed by River Development. Together with Forte Partner’s newest office project Tandem and the first phase of @Expo developed by Atenor Group, the three new buildings have an overall occupancy rate over 70% at the end of Q1.

TOP areas preferred by office tenants in Q1 2022

In Bucharest, the western area attracted the most office tenants, with rental transactions with a total area of 17,388 sqm, here deliveries are also at a record level in 2022. The surprise is the second place, the area of center-south, which quickly climbed to the top, thanks to the U Center project, in the Tineretului neighborhood, according to a study conducted by Fortim T.A., a member of the BNP Paribas Real Estate Alliance.

The Center-West sub-market is set to become the main office hub in Bucharest, overtaking Floreasca-Barbu Văcărescu after 8 years

The office stock in the Center-West area of Bucharest, near Politehnica University, will surpass the existing stock from Floreasca-Barbu Văcarescu (which has been the main office hub in Bucharest for eight years) in 2022, according to data from the Cushman & Wakefield Echinox real estate consultancy company.

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Alexandra Filip

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