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Articles - new office developments

Soravia converts Bucharest hotel in office space, wants to invest EUR 80 million in new office project

The local subsidiary of Austrian real estate developer Soravia Group has completed a EUR 1.5 million investment in the conversion of the Starlight Suites hotel in Bucharest into office space, the company announced today. The hotel was located on the grounds of Metropolis Center, an office and retail project Soravia opened in 2009.

Why is Cluj-Napoca the leader in office building development outside Bucharest

Cluj-Napoca, second largest city in the country, continuously developed during latest years due to the attracted foreign capital and the local business environment. The city’s dimensions, the modern infrastructure and the lower costs are attracting a larger number of investments.

S Group completed Green Gate office building in Bucharest, following EUR 55 million investments

The Czech company S Group Holding completed Green Gate office building near Chirigiu market, the largest office project to be delivered this year in Bucharest, including 31,000 sq. m rentable area, following EUR 55 million investments, according to Mediafax.

Skanska is looking for tenants and wants to buy more land in Bucharest

Swedish construction and development company Skanska has completed 80 percent of Green Court Bucharest’s first office building and is looking to buy more land in the capital.

AFI started the construction of buildings 4 and 5 within AFI Park office project, EUR 50 million investment

Real estate developer AFI Europe, controlled by the Israeli billionaire Lev Leviev, started few weeks ago the works at the buildings four and five of the office project AFI Park, built in the vicinity of the commercial centre AFI Palace Cotroceni in Bucharest, buildings involving an investment f approx. EUR 50 million, according to ZF estimations.

Bucharest offices – best quarter in the last 21 months

The office request (except for renegotiations and extensions) reached 48,500 q. m in the first 3 months of the year, with more than 55% prelease transactions.

Office development possibilities in Zagreb and Belgrade

Zagreb and Belgrade are generally viewed as offering office development possibilities despite being at different points in the development cycle. Belgrade has close to zero vacancy with limited stock while Zagreb has high vacancy and an “overheated” office market. Development opportunities are anticipated with an economic upturn in the Croatian economy in the next 2-3 years.

Former GTC Romania’s head founded its own real estate development company and develop new office building in Bucharest

Former head of the real estate developer GTC Romania Shimon Galon founded a company together with several friends and former employees of GTC, which will deal with the development of its own real estate projects, but also for other investors.
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