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Office Market News

Echo Investment postpones to 2014 EUR 100 million mall

The company Echo Investment will start next year the construction of EUR 100 million commercial centre, Korona Braşov, project for which the Polish company bought five years ago a plot of five hectares, although the most recent announcements of the developer estimated for the summer the beginning of the works.

Palas Iaşi offices EUR - 1.58 million turnover for the first term of 2013

Businessman Iulian Dascălu, owner of Iulius Group network, had registered EUR 29.1 million turnover in the first half of this year from the exploitation of five malls in his portfolio, while the offices associated with the Palas Iasi project brought supplementary revenues of EUR 1.58 million, according to data released by the company to ZF.

Rents evolution according to DTZ consultants

The rents are stable for offices, growing for the performing retail projects outside Bucharest, while for logistics 2012 and 2013 brought the most dramatic adjustments.

Former head of McDonald’s invested EUR 2.4 million in Bucharest building

Marian Alecu, the Romanian who led during 13 years the local business of American giant McDonald’s, invested EUR 2.4 million in a residential building situated in Lizeanu area of Bucharest.

Tristan CCPIII Fund acquires A Class Warsaw office complex for €121 million

The CCPIII core plus real estate fund advised by Tristan Capital Partners has agreed to acquire an A Class office complex in Warsaw’s Mokotow Business District from Ghelamco Group for a net €121 million.

Office market still dominated by renegotiation transactions

Office real estate market was marked in the first term of 2013 by renegotiation transactions of the contractual conditions, representing 34% of the total area transacted in the first six months, according to CBRE.

DTZ Echinox appoints new head of property management

Sebastian Mahu is the new head of property management at DTZ Echinox. He has background in property management after he coordinated the Felicia Shopping Center in Iasi and also holds experience in marketing research.

20% growth for real estate transactions in 5 months

The number of real estate transactions has increased with 20% in the first five months of this year, to 323,419, compared to the similar period of 2012, while the mortgages registered within the National Agency of Cadastre and Real Estate Advertising (ANCPI) have slightly decreased.

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Adina Camara

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