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Office Market News

Construction works 7.2% down in the first five months

Construction works volume has decreased in the first five months, compared to the same period of last year, as unadjusted series as well as adjusted series on the number of working days and season, with 7.2% and 7.6% respectively, has announced the National Institute of Statistics (INS).

City Mall story. How the construction revives

City Mall project in Bucharest sector 4 (situated near Belu cemetery) will be transformed from a commercial centre in an office building by the end of this year, while the façade works are already nearing completion. A big part of the classic mall façade of the City Mall project has already been replaced with glass façade, specific to office buildings.

Green fever: 20% of the office stock is certified, more to come

The word „green” becomes almost customary when speaking about the local office market. Even if only approx. 15-20% of Bucharest office stock has currently a green certification and the owners do not benefit from any tax ease, as in Cluj.

Medium companies office request increasing compared to last year

The medium companies’ office request has increased with 9% in the first term compared to the similar period of last year, considering that the number of such companies looking for offices has increased with 21% in the same interval, according to Esop.

Global Construction to Grow 70% by 2025

The volume of construction output will grow by more than 70 percent to $15 trillion worldwide by 2025, outpacing global GDP, according to the Global Construction 2025 study by Global Construction Perspectives and Oxford Economics. According to the study, 63 percent of global construction activity will take place in emerging markets, up from 52 percent today.

New office building Nowy Swiat breaks ground in Warsaw

The new office building will be located in the heart of Warsaw between the Warsaw Stock Exchange and the city’s most expensive retail street Nowy Swiat.

CBRE: Negative absorption for offices in Slovakia

CBRE registered few reasons for excessive optimism for Slovakia’s office and warehousing sectors in the first quarter of 2013.

Hello Shopping Park in Bacau entered insolvency

Hello Shopping Park, developed by the Belgium’s Bel Rom entered insolvency. The company Bel Rom Cinci, through which the retail project Hello Shopping Park was developed, asked for its insolvency on 2nd of July and Bucharest Court approved the company’s request on 3rd of July.

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Adina Camara

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