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Office Market News

Ploiesti Court of Appeal’s Decision is final, Cathedral Plaza in Bucharest will be demolished

Ploiesti Court of Appeal decided the revocation of the decision that made possible the suspending of the enforcement of the demolition decision of the building Cathedral Plaza, and the decision is final.

CBRE Closes Acquisition of Global Workplace Solutions Business from Johnson Controls, Inc.

CBRE announced that it has closed the acquisition of Johnson Controls, Inc.’s Global Workplace Solutions business. Global Workplace Solutions is a market-leading provider of enterprise facilities management solutions for global corporations and other large occupiers of commercial real estate. Global Workplace Solutions had revenue of more than $3.0 billion in calendar year 2014.

Patriciu family exits EUR 300 million real estate project to be developed by Immorent near Bucharest

Businessman Dinu Patriciu’s family exited the company which intended to develop a real estate project in Străulești area near Bucharest together with Erste Immorent Group Romania, the shares owned by Șerban Patriciu and a company managed by him being taken over by Immorent.

Romania to reach Germany’s hourly salary in 30 years

The hourly cost per employee amounts to EUR 4.6 in Romania, compared to an hourly cost of EUR 31.4 in Germany. It will take at least 30 years for a Romanian employee to reach the current salary level of an employee in Germany, according to Ziarul Financiar’s estimations based on the average salary growth in Romania over the past 15 years.

America House is about to become GREENER with ATALIAN Energy Solutions System.

America House, one the largest multi-functional business centers of Bucharest, lies in the center of the most prestigious business districts at Victoria Square.

Skanska, close to new land acquisition. The company targets again the north of Bucharest

Sweden’s Skanska estimates to buy a plot for a new speculative office project by the end of this year. The developer studies several plots, including the former National Wood Institute plot, situated on Fabrica de Gluzoza St., with 8,900 sq. m.

COS: Foreigners start paying the fair price for the offices in Romania

Romania has evolved from its “poor child” of the mother-companies statute and even became one of the countries for which the foreigners are ready to invest best for office fit-out, considers Christophe Weller, managing partner of Corporate Office Solutions (COS), the largest supplier of design, fit-out services and furniture for offices in Romania, with business estimated to EUR 18 million by the end of the year.

The new Romanian Fiscal Code published in the Official Gazette

The new Fiscal Code published in the Official Gazette includes the reduction of the general quota of VAT from 24% to 20% starting with next year, the application of a special quota of 5% for books, textbooks, newspapers, magazines, sporting events, cultural events, as well as a series of tax increases, such as the tax on houses owned by natural persons but used for commercial purposes
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