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Office Market News

The new underground line to the airport will have 12 stops

By 2018, inhabitants of Bucharest, tourists and everybody else looking to catch a flight or get downtown from the airport will be able to get in the subway and reach their destination in half an hour. At least that is what Metrorex is promising.

CBRE: Romanian office market to settle down between 2014-2016

The local office market has undergone major transformations between 2008 and 2013 going from a “landlords’ market in 2008” to a “tenants’ market” over the next years, according to CBRE Romania.

Fitch: Romania’s moderate financing needs make it less vulnerable to turbulence

Fitch Ratings expects the gross public borrowing requirement (GPBR) of the larger eastern-central European sovereigns of Poland, the Czech Republic,Hungary and Romania to reach EUR78.5bn in 2014 (9.5% of estimated aggregate GDP), down from EUR96bn in 2013 (12.4% of aggregate GDP).

Holcim Romania has a new CEO

Francois Petry is the new CEO of the Romanian subsidiary of cement manufacturer Holcim. He is replacing Daniel Bach who has been recently appointed area manager for South-East Asia.

Saint-Gobain Romania moves to new headquarters

The Bucharest office of construction materials producer Saint-Gobain has been relocated to Floreasca Park, in the northern part of the capital, the company has announced.

Alpine is looking for a buyer for their Romanian assets

Austrian constructor Alpine, which filed for insolvency in September 2013 (three months after the mother-company in Austria filed for bankruptcy), is searching for a new recover strategy which implies selling their Romanian assets to an investor, according to capital.ro.

Sandoz relocates to Floreasca Business Park

Pharmaceutical company Sandoz, part of Swiss group Novartis will relocate its offices this spring to Floreasca Business Park.

Impact estimates business growth for next two years

Impact (IMP) estimates for next year a turnover of approx. EUR 26 million, aiming to reach EUR 50 million / year by 2016, while its operational profit is estimated to EUR 1.6 million in 2014 and EUR 22.5 million in 2018.

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Alexandra Filip

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