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Office Market News

Challenging times for homebuilders and real estate companies

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.

One United Properties posts a consolidated turnover of 306.6 million euros and a gross profit of 105.9 million euros in 2023

One United Properties (BVB: ONE), the leading green developer of residential, mixed-use and office real estate in Romania, posts a preliminary consolidated turnover of 306.6 million euros for 2023, a 30% increase compared to 2022.

Reluctant investors in the year with the highest take-up ever

Real estate investment transactions amounting to more than €600 million are currently in advanced stages of negotiation, as the volume registered throughout 2023 could be matched in the first half of this year, according to data from the Cushman & Wakefield Echinox real estate consultancy company. Ongoing negotiations target office buildings (30% of the value above), retail projects (30%) and logistics parks (40%), with around half of the assets being located in Bucharest.

Fortim Trusted Advisors Company, Alliance member of BNP Paribas Real Estate, announces partnership with KÉSZ Group

KESZ Group has selected Fortim Trusted Advisors, company specialized in consulting and real estate management, as the exclusive agent for Corallis, the first own residential project developed in Romania.

Blankfactor reaches for the Sky, moves into the top floor of Romania’s tallest office building

Blankfactor, a global provider of end-to-end digital transformation technology solutions for global financial services and payments giants, has selected SkyTower, a landmark office building in Romania, in a strategic real estate transaction, which was facilitated by valued-partner CBRE Romania, with the aim of Blankfactor moving into the space by March 2024.

One United Properties waits for permit to start works at One Technology District

ONE Technology District, the building of 20,000 square meters of leasable area, for which Infineon signed a 57 million euro contract with One United Properties for a period of 15 years, will be the developer's first flagship project without connection to the gas network.

Workspace Studio Group's turnover at EUR 22.5 mln in 2023

In 2023, Workspace Studio Group, specialized in high-quality office furniture and turnkey office refurbishment projects, and a Certified Dealer of the MillerKnoll group in Romania, strengthened its position as a provider of premium office design solutions, maintaining its turnover constant at EUR 22.5 mln, a level also achieved in 2022.

myhive S-Park office building expands its tenant portfolio with Austrian construction company, Swietelsky

CPI Property Group, one of Europe’s leading real estate owners, announces the expansion of its local office community by signing a lease agreement with Swietelsky, an international construction group, based in Austria. The new tenant will occupy an area of approximately 1,250 square meters, in myhive S-Park office building, the contract being signed for a period of 5 years, starting with March 2024.
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