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Office Market News

Garanti Extended Lease in Novo Park

The group Garanti Romania has extended with five years its lease for the headquarters within the business park Novo Park, developed by Genesis Development in Pipera area in Bucharest.

Vectra Service files for insolvency

Romania’s Vectra Service, one of the biggest constructions company, filed for insolvency on Wednesday, due to falling road public acquisition contracts, which generated the bulk of business, and low private investments in the Brasov area.

AFI Europe’s Retail Assets Market Value in Romania

The two malls in Romania of the Israeli developer AFI Europe, situated in Bucharest and Ploiesti reached a total market value of EUR 433 million.

Top 3 Cities in the Country with Strong Potential for the Office Market Development

Most of the available office spaces are in Bucharest, but large cities in the countryside have a big development potential, according to CBRE research on labour market and office spaces in Romania.

The Developer of Casa Radio Project in Bucharest entered Insolvency

Plaza Centers, the developer of Casa Radio in Bucharest entered judicial reorganization under the protection of the Dutch bankruptcy law, in order to solve the liquidity problems the company is facing, the Israeli investor announced.

Adama to Develop New Residential Building in Iasi, with EUR 1.7 Million

Real estate developer Adama, fully owned by Immofinanz Group, started the construction works for the last development phase of the residential complex Copou Bellevue in Iasi.

London, Hong Kong and Beijing – Most Expensive Offices in the World

London, Hong Kong and Beijing have the most expensive office spaces in the world with strong demand from niche financial and technology sectors driving up rental costs to record highs, a new analysis shows.

PM Ponta: 2018 to 2020, a realistic target for joining Eurozone

Romanian Prime Minister Victor Ponta’s face twisted into a wry smile when he was asked in a CNBS interview if he is waiting to see how the Eurozone looks in several years’ time before embracing the common currency.

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Adina Camara

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