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SPEEDWELL Development, one of the leading real estate developers announces the consolidation of its management team by appointing Andreea Comșa as commercial director.

Average costs for office space fit-outs in Romania are 10-15% higher than the previous year, primarily due to increased labor costs, according to a report by iO Partners. Despite this, Romania remains one of the most affordable countries in the EU for office fit-outs, with costs significantly lower than in Poland, the Czech Republic, or Western countries. The report, based on data from over 40 iO Partners projects, reflects recent market trends and the challenges companies face when designing office spaces.

British software services company Endava has renewed its lease for a further five years at the United Business Center building, part of the Iulius Mall Cluj development. The deal, brokered by real estate consultancy Colliers, covers 4,300 square meters of office space and will allow the company to strengthen its local team and continue its expansion in Cluj-Napoca

Trading activity in the office market slowed in the third quarter of this year, mirroring trends from 2021-2022. Total demand for modern leased office space in Bucharest dropped by 25% to 236,000 square meters compared to the same period in 2023. New lease demand reached 82,000 square meters, reflecting an 11% decrease year-on-year, according to Colliers data.

ESOP Consulting is a reference company on the real estate market in Romania, being among the top 10 consulting companies in the office and industrial space segment, offering real estate consulting services for various types of properties, including offices, industrial properties and land. We spoke with Alexandru Petrescu, Managing Partner ESOP Consulting | CORFAC International, to learn in detail the ingredients of a successful local business in the field of premium real estate consulting, but also for a lesson in organization, vision and business clarity, useful for any real estate entrepreneur, as wel as for any company that has, at some point given, interference with the real estate market (whether it is the rent of a premises or the management of its own assets). And last but not least, to turn a page in the modern history of the real estate market in Romania.

Hotspot Skyhub, the second professional Hotspot hub, located in Orhideea Towers, will open in the last quarter of 2022. We spoke to Tudor Popp, Founding Partner, about the challenges of this project and the details of the investment.

Date	Business Center	Tenant	m2	Lessor
2024 Q4	United Business Center Tower	Endava	4300	Colliers
2024 Q4	River Plaza	Intelligent IT-Smartbill	n/a	Steilmann
2024 Q3	Miro Offices	Radio ZU	1540	Hili Properties