SCOR's Landmark Lease in Bucharest

French reinsurer SCOR has made a significant move into the Bucharest market, securing approximately 3,000 square meters of prime office space at the prestigious Timpuri Noi Square. This major transaction, accommodating around 250 employees, marks one of Bucharest's largest office lease deals in early 2026. SCOR's new office is designed to be a strategic transformation hub, consolidating critical activities across Tech & Data, Finance, and reinsurance operations, signaling Bucharest's growing importance as a European business center.

Timpuri Noi Square: A Hub for Future Growth

The choice of Timpuri Noi Square by a global giant like SCOR underscores its appeal as a modern, strategically located business environment. Developed by Vastint, Timpuri Noi Square is expanding rapidly, with two additional office buildings totaling 60,000 square meters set for completion by the end of 2026, effectively doubling the complex's existing office capacity. Businesses considering this area can expect current rental rates ranging from 18 to 21 euro per square meter per month, reflecting the quality and amenities on offer. This expansion presents excellent opportunities for companies seeking premium office space in a dynamic setting.

Bucharest's Robust Office Market: What Businesses Need to Know

According to a recent market analysis by CBRE, 2026 will see companies prioritizing space efficiency, strategic locations, and modern, sustainable buildings when making their office decisions. Bucharest's office market demonstrated strengthened fundamentals in 2025, with the central vacancy rate plummeting to an historic low of approximately 4%, and a city-wide rate of 11.1%. Total leasing activity reached an impressive 280,000 square meters, with net demand at 166,000 square meters, primarily driven by robust growth in the financial, IT, manufacturing, and energy sectors.

Strategic Locations and Future Outlook

Leasing activity in Bucharest has shown a clear concentration in highly sought-after areas such as Floreasca-Barbu Văcărescu, Piața Victoriei, and the central/western parts of the city. With over 200,000 square meters of new, high-quality office space currently under construction, the market anticipates a continued downward trend in vacancy rates. This is fueled by consistent demand from businesses seeking well-located buildings with excellent accessibility, especially those with easy metro access. For companies planning their next move, Bucharest offers a compelling landscape of quality, connectivity, and growth potential.

Source: profit.ro