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Office Market News

Bucharest-Ploiesti Highway brings 23 million lei compensation for GTC

Gigi Becali and the 3rd sector mayor, Robert Negoita, have received from the Government total compensation of nearly 830,000 lei, together with other persons and companies, for lands owned in Voluntari area which will be expropriated in order to connect the highway to the city. GTC has received the biggest compensation of 23 million lei.

Euro Tower was evaluated at EUR 50 million

The 18 floors office tower Euro Tower in Bucharest, where companies such Banca Românească, ArcelorMittal, Schneider Electric or Avon have their quarters was evaluated by Colliers International at EUR 50.1 million, with a slight increase compared to the level of EUR 49.8 million, established in 2011.

Carpatcement expects 3% turnover increase yet smaller profit this year

The cement producer Carpatcement Holding, part of the German group HeidelbergCement, has budgeted for this year business of 834.8 million lei (approx. EUR 188 million), with 3.3% increase compared to 2012 and a brut profit of 174.9 million lei (approx. EUR 39 million), 4.9% smaller.

Bucharest office rents down to EUR 7.7/sqm/month

Bucharest office rents went down to EUR 7.69/sqm/month, the cheapest offers being registered in the Eastern Bucharest, according to a report done by Esop Consulting.

Kyiv, Istanbul and Bratislava highlighted as manufacturing hot spots

Kyiv, Istanbul and Bratislava have emerged as the top three ideal locations for cost-driven manufacturing activities, Colliers International recently announced in its latest report, Logistics Cities, a European Comparison.

Bucharest, in Top 15 cities with biggest office occupancy cost cuts

Bucharest occupies the 12th place in the top of world cities with the biggest office occupancy costs cuts in the last year, with 6.1% decrease in 1Q 2013 compared to 1Q 2012, according to CBRE real estate consultant.

Tristan Partners acquires 5 Polish malls

In one of the biggest transactions this year for the Polish retail market, Tristan Capital Partners will take over a portfolio of five shopping malls from the Australian Charter Hall Retail REIT for €174.5m.

Project is Fourth BTS at Prologis Park Wroclaw V

Prologis, Inc., the leading global owner, operator and developer of industrial real estate, has announced it has signed a 15-year leasing agreement with trade group Eko Holding for a 34,900 square metre build-to-suit distribution centre in Poland. Colliers International acted as broker on behalf of Eko Holding for this transaction.

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