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Office Market News

Auchan dishes out EUR 280 million for 12 shopping galleries

French-held retailer Auchan has reached an agreement to buy 12 hypermarkets and shopping galleries in Romania located in Bucharest, Timisoara and eight other cities throughout the country. The deal is worth about EUR 280 million, according to zf.ro.

Xerox Romania moves into new HQ in Hermes Business Campus

Xerox Romania announced it will be moving into a new headquarters located close to Pipera subway station, in the Hermes Business Campus, developed by Properties Investment (Atenor Group) starting June 30.

92,000 sq. m offices delivered in Bucharest in 1Q, but half of them are vacant

In the first half of this year offices were completed in Bucharest with a rentable area of 92,000 sq. m, but approx. half of these spaces don’t have yet tenants, according to a ZF analyze of the market data.

Maurer buys 3.4 ha in Brasov for Avantgarden3

Real-estate developer Maurer Imobiliare, founded by Simon Maurer, bought a 3.4 ha terrain in Brasov for the third phase of residential project Avantgarden3, where the company has already built 1,600 apartments.

Tallest office towers in Bucharest currently underperforming

Sky Tower and Tower Center, the tallest office towers in Bucharest, had last year only EUR 2.4 million total revenues, although normally the revenues from rents of the two projects should have reached approx. EUR 12 million annually, according to ZF estimations.

Buzoianu family to sell Retrasib to invest in Cluj Business Center

Businessmen Octavian and Călin Buzoianu, who control over 80 pct. of the Retrasib Sibiu (RTRA)shares, mostly through the companies Institut Proiect and Trafo Proiect, intend to sell their shares in the engine, generators and electric transformers manufacturer to the German company SGB-Smit International, in order to focus on other projects ongoing.

Moody's: Improved macro-economic balance supports Romania's credit profile

Romania's Baa3 government bond rating is supported by the government's moderate debt levels as well as the anticipated improvements in productivity and incomes, says the annual credit report published by Moody's Investors Service on Thursday.

Vodafone opens new regional services center in Romania

Telecom operator Vodafone, the second largest telecom operator on the local market, has opened a new center of regional services in Bucharest, according to an invitation sent to the media.

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