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Office Market News

Former industrial platforms in Bucharest continue to generate among the highest number of land transactions

The land market in Bucharest has remained active over the past 12 months, in terms of acquisitions made by residential, logistics and retail real estate developers by particularly targeting the former industrial platforms within the city, which provide easy access, according to data from the Cushman & Wakefield Echinox real estate consultancy company.

Forte Partners completes U Center 2 office building in Bucharest

Real estate developer Forte Partners recently announced the completion of the U•Center 2 office building in Bucharest, two years after the works started.

The number of sold properties increased in H1 2023, but the average price per asset decreased by more than 50%

The number of sold income – generating real estate properties (office, retail, industrial & logistics spaces and hotels) during the first half of 2023 increased by 30% when compared with the same period of last year, but the average price per property decreased from €24 million to €11 million. Therefore, the transactional volume has seen an y-o-y decline of 43%, to a level of €181 million, according to data from the Cushman & Wakefield Echinox real estate consultancy company.

UniCredit Romania extends lease agreement for the iconic building on Expoziției Boulevard

Globalworth, the leading office real estate investor in Central and Eastern Europe (CEE), is delighted to announce the extended lease agreement with UniCredit Romania for the distinguished UniCredit HQ building.

America House is Romania’s First Office Building Achieving Gold ActiveScore Certification – the International Recognized Certification for Active Travel Provision

America House is now the first office building in Romania to be awarded the Gold ActiveScore Certification based on its current travel facilities for cyclists and scooters users.

PPF Real Estate’s Crystal Tower and Metropolis office buildings in Bucharest get solar power upgrade

PPF Real Estate’s two office buildings in central Bucharest - Crystal Tower and Metropolis - are now running partially on solar power after their rooftops were successfully converted into photovoltaic sites.

Oregon Park achieved the Well Health & Safety certification

Oregon Park, one of the largest and most sustainable office projects in Romania, owned by the Lion’s Head investment fund, achieved the Well Health & Safety certification, granted by The International WELL Building Institute (IWBI). The certification recognizes the implementation of measures that ensure a work environment with a positive impact over the health and well-being of employees.

Romanian real estate investment market recorded slow transaction activity in H1 2023

The first semester of 2023 closed with a total value of investment transactions worth 168 million euro in Romania, roughly half compared to last year’s level, with industrial and logistics accounting for about 36% of volumes and office for c. 31%, according to Colliers market report for the first half of 2023.

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