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Articles

Developers will deliver in the next 16 months almost 500,000 square meters of modern offices in Bucharest and the regional cities

The office market in Bucharest and in the major regional cities – Cluj-Napoca, Timișoara, Iași and Brașov – continues to develop, with local and foreign investors having projects under construction or scheduled for delivery with an area of approximately 500,000 square meters that will be put into use in the next 16 months, according to Bucharest Office Market and Office Regional Cities Reports, realised by the real estate consulting company Cushman & Wakefield Echinox.

One United Properties - capital increase of 25 million euros for One Cotroceni Park, the largest urban regeneration project in Bucharest

One United Properties has completed the capital increase process worth 25 million euros, for investments in the largest urban regeneration project in Bucharest, which is currently developing on the site of the former Ventilatorul factory: One Cotroceni Park. The company recently sold 30% of the companies that develop the office component of the One Cotroceni Park project for a capital increase that will be invested in the development of this project.

Resolution Property and Zeus Capital Management bought Floreasca Park office campus in Bucharest

Resolution Property and Zeus Capital Management have recently acquired Floreasca Park, a ca. 40,000 m2 office campus in the heart of Bucharest. The property was sold to the joint venture by a fund managed by GLL Real Estate Partners GMBH (a member of Macquarie Group).

AFI Park Brașov, the office project in the heart of the city

AFI Park Brasov, the newest office project developed by AFI Europe Romania, is located in the heart of Brasov, on one of the main arteries, close to the historic center of the city.

The first BREEAM In-Use Outstanding v6 Certification was obtained by Romanian office building Vox Technology Park from Timisoara

Vox Technology Park office project from Timisoara has obtained the BREEAM In-Use v6 sustainable certification with Outstanding rating, the highest existent score accorded on a global level, thus being the first project in Romania with this ranking, based on the latest standard version, issued in May 2020.

Construction sites are working at a normal pace during this period

Colliers International has monitored construction works, from foundation to delivery, for projects with almost 750,000 square meters in the last 5 years, of which three quarters in the industrial area, almost 20% in the office area and 5% in the residential area.

Deloitte launches SmarTax app which automates companies’ corporate income tax compliance process

Deloitte Romania launches SmarTax application, a digital tool that allows companies to calculate and prepare the quarterly and annual corporate income tax (CIT) computation based on accounting documents available on any fixed or mobile device connected to the internet, thus digitizing their compliance process with corporate income tax reporting requirements. The application incorporates the entire fiscal legislation in force, while also remaining flexible to adjust to any future changes in the corporate tax area.

Real estate investments totaled EUR 395 mln. in H1

Romania's investment volume accounted for approx. EUR 395 mln. in the first six months of 2020, a value 17% higher  than the same period of the previous year, according to CBRE, leader in the real estate consultancy market. Office buildings were the properties most sought after by investors, accounting for 88% of the volume traded and other similar projects are available for sale, totaling over EUR 350 mln.

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