As measured by the existing rentable area in the region, the Eastern Europe segment posted a letting performance of 24% - traditionally the largest ratio due to factors such as the usually shorter contract terms in CEE in comparison to Germany and Austria. Arriving at 30% in relation to the total local portfolio volume, rentals of more than 30,000 sqm rentable area have been signed in Bucharest in 2017, including large-scale lettings to Bitdefender (9,300 sqm office space in the office project Orhideea Towers, which is scheduled for completion in 2018) and Orange (extension of 8,300 sqm office space in Europe House).


Marian Roman, Head of CA Immo Romania: "In 2017, we could make good use of the continued dynamic situation in the Bucharest office renting market. Also in 2018, we see strong demand and continuously rising renting levels for our local office portfolio. Showing an occupancy rate of 94%, our five office properties in Bucharest are as good as fully let. The development of Orhideea Towers, which is scheduled for completion in 2018, is enabling us to complement our top-tier tenant base and, at the same time, meet the expansion plans of Romania’s fastest-growing companies such as Bitdefender and Mysis, some of whom are long-standing partners. "


CA Immo: 255,000 sqm total lettings performance in 2017

In 2017, CA Immo rented a total rentable floor space comprising close to 255,000 sqm in 10 countries, of which 14% (approx. 35,200 sqm) were accounted for by pre-lettings of projects under construction. Exclusive of these project pre-lettings, this represents a letting performance of approx. 16%, as measured by the overall asset portfolio of CA Immo holding just under 1.4 m sqm. 47% of the letting performance of existing space are accounted for by new lettings, and the rest by contract extensions for existing tenants. 95% of the rented existing space were attributed to office areas.


CA Immo investment portfolio: 88% office share, 60% of office space with sustainability certificate

The investment portfolio of CA Immo worth approx. € 3.4 bn is characterised by large, inner-city office properties (accounting for 88% of the total portfolio) in Central Europe metropolitan cities. Around 47% of the portfolio (by book value) is located in Eastern Europe, 37% in Germany and 16% in Austria; more than 60% of the total office space have been granted DGNB, LEED or BREEAM sustainability certification. The total book value of the Romanian asset portfolio, which accounts for 7% of the total CA Immo portfolio and includes representative office buildings like Europe House and Riverplace, stands at € 293 m, totalling a rentable area of some 105,800 sqm. Four of the five Bucharest office buildings have been awarded LEED sustainability certification in gold and BREEAM very good respectively, the certification process for Bucharest Business Park is still ongoing (all key performance indicators as at 30 September 2017). (source: CA Immo)