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Office Market News

CA Immo sold its Romanian office portfolio to Pavăl Holding in the biggest commercial transaction in Romania

Global real estate advisor, CBRE, has advised CA Immo on the sale of its Romanian office portfolio to Pavăl Holding. The portfolio is comprised of seven high-quality office properties located in Bucharest, as well as the highly experienced Romanian management team.

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Genesis Property completes the largest renewable energy project in an office park in Romania

One of Romania’s leading real estate developers, Genesis Property, presents a new benchmark for the real estate market by implementing the largest renewable energy project in an office park in Romania. The project consisted in the installation of more than 1,000 photovoltaic panels on an area of more than 4,000 sqm, in prosumer mode, on the office buildings’ roofs in YUNITY Park (Novo Park) in the north of Bucharest, following an investment of 1 million euro.

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Flexible office spaces on demand, a new service launched by Nooka Space in partnership with Nepi Rockcastle

Nooka Space, the developer of the first smart proximity office network in the world, launches a smart flex office service within Nepi Rockcastle shopping malls across Romania. With office booths placed both indoors and outdoors, Nooka Space aims to enhance the customer experience, offering the possibility to book intimate flex workspaces, whenever privacy for a business meeting or for working remotely is needed.

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Green Power Generation Investment Project - renewable and clean energy in Sema Parc

River Development, the developer of the Sema Parc and The Light projects, through its property & facility management company Sema Parc, announces the implementation of a photovoltaic power plant for the generation of green - renewable and clean energy in Sema Parc. With a total investment of more than €1 million, the project is due for completion in May 2023 and will initially provide part of the electricity supply to the Paris, Berlin and Bruxelles buildings in Sema Parc.

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Bookster joins the YUNITY Park community for a period of 10 years

Genesis Property, one of Romania's leading Class A office developers, has signed a 10-year contract with Bookster, the most popular employee benefits in over 1,200 companies in Romania. Starting December 2022, Bookster will be headquartered in Building D of YUNITY Park, a new campus business model that will sustainably and uniquely integrate spaces for experiences relevant to the work and lifestyle of the future.

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Private investors, mainly active in the residential sector, are now also interested in real estate assets

Income-producing properties are becoming an increasingly appreciated option for Romanian or foreign private investors who have previously been mainly active in the residential sector and who are now targeting “trophy” assets.

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Zimmer Biomet Holdings, a world leader in medical technology, opens its first Romanian branch in Sema Parc

River Development, the developer of Sema Parc and The Light projects, announces the lease of office space to Zimmer Biomet Romania in the Paris office building in Sema Parc.

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After a robust first half of 2022, the market recovery has slowed down

Activity in the office market recorded its first slowdown in the third quarter of this year after four strong quarters. Overall, total demand of 68,800 square meters was stable compared to last year and also to the average of the last four quarters, but new demand was at only 22,200 square meters, which is a decrease of 39% from last year, according to data from Colliers.

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