The availability of office spaces offered for sublease has reached the highest level in the history of the real estate market in Bucharest in the last 3 years, according to a report by the real estate services company iO Partners.
Vastint Romania announces the commencement of the second phase of its real estate project, Timpuri Noi Square, a significant urban regeneration project for the Timpuri Noi area, thus marking a important moment in the real estate industry in Bucharest.
IWG, the world’s largest provider of hybrid work solutions, aims to open 1,000 new locations globally amid significant growth in demand from companies and employees seeking hybrid work spaces.
Lemon Office Design, the interior design division for office spaces of Lemon Interior Design company, announces the successful completion of the layout project for BAT Digital Business Solutions. This dynamically and inspiringly arranged workspace is located at One Cotroceni Park, one of the most modern real estate developments in Bucharest, boasting LEED Platinum v4 certification, attesting to sustainable operation and minimal environmental impact, as well as WELL Health and Safety certification, which assesses health and well-being in the workplace.
The Romanian investment market recorded transactions of around 476 million euros last year, down by more than half over 2022’s cycle high of 1.25 billion euros, according to the 2023 Annual Report released by Colliers.
Cascade Group, a foreign-capital family office which has been operating in Romania for over two decades, said it is launching a new investment division which will offer 40 million euro ($43.4 million) in financing to local entrepreneurs as well as small and midsize investors operating in real estate and other industries in the next five years.
ALLCLOUD, a US-based global leader in cloud-based services, has selected River Plaza, a modern office building in Romania’s capital city, in a strategic real estate transaction facilitated in a highly efficient manner by CBRE Romania. The collaboration of all parties involved resulted into a lease of a fully fitted out workspace, with the flexibility to accommodate a potential future expansion of the technology focused professional services company.
Construction and real estate sectors are among the most cyclical sectors. Sensitive to changes in the labour market, prices in commodities and, first and foremost, the interest rate environment and accessibility of credit, they are currently under strain. And things are unlikely to get any better in 2024, according to a survey by Coface.
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