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Office Market News

Businessman Ioannis Papalekas to invest in Romania money from the London Stock Exchange

The Greek businessman Ioannis Papalekas, one of the most active real estate investors in Romania intends to attract funds on AIM, the secondary platform of the London Stock Exchange, in order to invest mainly in the Romanian market.

BCR to get the land under Bancorex tower in exchange for historical building in Lipscani

Bucharest City Hall will exchange the land on Calea Victoriei where was built the former Bancorex headquarters (currently BCR headquarters) with a historical monument building on Lipscani St., owned by BCR, where the municipality will establish Bucharest Pinacoteca and will also pay a difference of EUR 5.8 million, according to a project approved on Friday by the General Council.

Ernst&Young moved in Tower Center in Victoriei Square

Ernst&Young, one of the biggest audit and consultancy firms has moved its headquarters starting today in the office building Tower Center on Ion Mihalache Blvd.

Well-known office buildings refurbished in Warsaw

Chmielna 134 Business Office Center and Koszykowa 54 Trade Center have undergone thorough modernisation to raise the standard of offered rental space. Both buildings, located in the very heart of downtown Warsaw, were erected in the mid-1990s. The properties are owned by UBS (D) Euroinvest Immobilien fund managed by UBS Real Estate Kapitalanlagegesellschaft mbH.

The number of residential construction permits 3.2% decrease for 5 months

13,832 residential construction permits were issued in the first 5 months of the year, with 3.2% decrease compared to the same period of last year according to the data from the National Institute of Statistics (INS).

Kilbane: Mall entertainment areas will have more and more importance

The tenant mix in the commercial centres in Romania will significantly change in the following years, the entertainment area, less influenced by the internet era, compared with the fashion stores for example, will have more importance in maintaining the traffic of the malls, shows Graham Kilbane, COO Argo Real Estate Opportunities Fund (ARGO).

Xerox to hire 440 people in Bucharest and Iasi by year-end

Xerox will be expanding its business process outsourcing (BPO) operations in Romania to answer demand from its European clients. For this purpose, the company will be employing 440 people by the end of the year in its offices in Bucharest and Iasi, announced the company.

Three pension funds managed by ING sold EUR 500,000 Impact shares

Three pension funds managed by ING have sold for 2.3 million lei (EUR 526,000) a package of shares representing 8.15% of the shares of the real estate developer Impact Developer&Contractor (IMP).

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