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Office Market News

US continues strategic investments in Romania

US companies remained active investors in Romania last year, with players in the IT, automotive and oil & gas sectors making strides to strengthen their local operations, taking the country’s total foreign direct investments (FDI) to over USD 1 billion.

Papalekas demolishes Porsche Aviaţiei showroom to develop an office building

The businessman Ioannis Papalekas, one of the most active and discrete real estate investors started the demolition of the showroom Porsche Aviaţiei from northern Bucharest, in order to develop a new office building near the metro station Aurel Vlaicu, in the proximity of Pipera passage.

CEE property investment outpacing 2012 by 30%

Central & Eastern Europe (CEE) commercial real estate investment volume reached €3.7 billion to the end of May 2013 – already a 30% increase when compared to the entire first half of 2012, according to the latest research from global property advisor CBRE.

Romania may slash the key interest rate by 0.75 percent this year, predicts Garanti Bank

Garanti Bank estimates a progressive reduction of 0.75 percentage points of the key interest rate this year to 4.5 percent, in a move designed to play a central role in stimulating consumption and investments through the re-launch of lending activity.

Alpine Bau declares bankruptcy

Alpine Bau, the second largest Austrian construction company, declared bankruptcy after failing to negotiate a restructuring plan with its creditors. Its Czech branch, Alpine Bau CZ, however, insists that for now that the bankruptcy proceedings will not affect its business in the Czech Republic.

New mall construction starts in Bucharest

The Canadian companies Benevo and CD Capital Partners, which have announced that this summer they would start the construction of their project Victoria City Lifestyle Retail Center, started the demolition and cleaning the site works in the close vicinity of the Jiului metro station in Bucurestii Noi neighbourhood.

Skanska commences construction on Riverview office building

Skanska Property Czech Republic has started construction on the Riverview office building in Smíchov, Prague 5. Once completed, it will offer 7,000 sqm of modern, energy-efficient office space. The building, designed by the Tengbom architecture studio, was designed with the goal of achieving minimum LEED Gold certification.

Adgar Group purchases the Ochota Office Park in Warsaw

The Adgar Group is further investing in Warsaw with the purchase of the Ochota Office Park office complex from Mahler Project International. The acquisition includes a 36,350 sqm plot with three office buildings offering a total of about 40,000 sqm of office space and 1,000 parking places.

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Adina Camara

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