Straco Real Estate and Baltisse announce the successful acquisition of a majority stake in SPEEDWELL, a premier real estate developer based in Romania. This strategic move solidifies Baltisse and Straco’s commitment to expanding their presence in Eastern Europe, leveraging SPEEDWELL’s established reputation and expertise in the region.
River Development, one of the local real estate developers, has a new Managing Partner since January 2024, in the person of Oana Rădulea. Oana thus takes over the executive management of the company, from the former Executive Director, Liviu Birău.
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces that CMS Romania, a top law firm and one of its tenants, has decided to extend on a long term its lease contract at One Tower and expand its office space by an additional 350 square meters. This extension underscores the strong partnership between CMS Romania and One United Properties, highlighting the exceptional quality of One Tower office building and the benefits offered within the ecosystem created at One Floreasca City.
The River Plaza building, a class A office building, located in the Timpuri Noi Hub, has a unique design, easily noticeable in the urban atmosphere on the banks of the Dambovita river.
Developers finalized the construction of 83,000 sq. m of new office projects in the major regional cities (Cluj – Napoca, Timisoara, Iasi and Brasov) in 2023, as the modern office stock exceeded the 1 million sq. m threshold, representing around 30% of the corresponding total in Bucharest. Iasi is the only city which benefited from the delivery of office projects throughout 2023, as it overtook Timisoara and thus became the second – largest regional hub outside Bucharest, after Cluj-Napoca, according to the Cushman & Wakefield Echinox Office Market Regional Cities report.
Awin Global, a company specialized in providing a global technology marketing platform, is expanding its office in the mixed-use Palas Iași complex and is recruiting for several positions. Awin has been present in Iași since 2023, located in the United Business Center 3 (UBC 3) office building, part of Palas.
The office market remains fluid and flexible. Two distinct trends have emerged in 2023: securing entry into prime new locations and optimising the portfolio through best value negotiations, all driven by a market with limited deliveries. After the first 3 months of this year, the office sector in Bucharest shows a positive fluctuation in terms of total leasing activity, being 71% higher than the same period last year.
Companies in Romania focus more and more on the purchase of second-hand office furniture, through which they can save at least 2-3 times more compared to new furniture, against the background of general price increases, according to Princemob Buro internal data. Thus, both SMEs and individuals are increasingly turning to second-hand furniture, with demand increasing by 14% compared to previous years.
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