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Office Market News

Liviu Tudor: The companies in West Gate have expanded on 15,000 sq. m in two years

The companies with offices leased in West Gate office complex in Western Bucharest have expanded the leased areas in the last two years with 15,000 sq. m and there are still intentions in this respect, has declared Liviu Tudor, the owner of the project, mentioning that he will start a new project if he has at least 80 pct. pre-leases.

Ursus leases 9,300 sqm in Log Center Timisoara

Immofinanz announced on Thursday that it has signed a five years lease for 9,300 square meters of logistic space with Ursus Breweries. The brewer will become a tenant of Log Center Timisoara, one of the biggest logistic properties in the Immofinanz portfolio.

Profi opens new supermarkets in Ploiesti, Iasi, Constanta and Pitesti

Profi opened two new supermarkets on Thursday, in Ploiesti and Iasi with another two openings scheduled on Friday, in Constanta and Pitesti. The Profi chains will reach on Friday 232 stores opened on a national level, writes Mediafax.

Romanians are EU’s hardest working employees

Romanian employees (full-time) worked the biggest number of hours last year, compared to the rest of the European Union, according to Coe-Rexecode Institute. Romania and Greece are the only countries in the European Union where the number of hours on the job spent in a year is higher than 2,000 for 2013 with 2,099 and 2,010 hours respectively.

Colliers expects almost EUR 2 million from offices

Colliers International, one of the largest real estate agencies on the local market, with a turnover of EUR 3.5 million in 2013 according to data on Ministry of Finance website, targets by the end of this year to double its consultants and brokers team in the office department and to triple its revenues from this sector, according to Georgiana Andrei, who was recently appointed as office & retail agency director, basically number two in the firm.

Isarescu: Potential real-estate boom caused by low interest rates

The low interest rates implemented throughout Europe could generate a new wave of investments in land properties and construction projects, many of which are speculative in nature because people who have savings will want a reward for the money they have set aside, BNR governor Mugur Isarescu said in the opening speech for the statistics colloquium.

AEW Europe completes first close of European value-add fund

AEW Europe announced today the first closing of the Europe Value Investors Fund with commitments from 6 investors totaling €101 million. The fund expects to undertake further closings in 2014 targeting a total investment capacity of €700 million and will focus on core plus and value add opportunities in the office sector predominately in Germany, France and the UK.

Carrefour to open hypermarkets in Obor area and in Timişoara

French group Carrefour, which has focused in the last five years on small format development started to accelerate again the expansion of the hypermarket format, planning to open two large format stores both in the second half of this year and in 2015.

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