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Office Market News

Energy certificates become mandatory for real estate transactions starting July 19

Owners who want to either sell or rent real estate properties will require an energy certificate in order to conclude contracts. The measure is provided by Law 159/2013 which refers to the energy performance of local buildings.

RICS President:Continuity and public interest are our watchwords

The new President of RICS (Royal Institution of chartered Surveyors) has spoken about the crucial role of the Institution in upholding international professional and ethical standards in land, property and the built environment for the public benefit.

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.

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Adina Camara

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