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Allianz took office for service centre in Bucharest

Allianz rented approx. 3,500 sq. m in Floreasca Park, to be occupied in several phases.

AFI Palace Cotroceni revenue up 6.7 percent, to EUR 7.3 mln

Shopping mall AFI Palace Cotroceni reported a net revenue increase of 6.7 percent in Q1 2014, up to EUR 7.3 million. The owners estimate that they will reach a figure of EUR 29 million at the end of the year, similar to their results last year.

S Group delivers EUR 57.5 mln Green Gate project, seeks land for new office project in Bucharest

Czech real estate developer S Group officially delivered this Thursday the EUR 57.5 million Green Gate office project in Bucharest.

Republica Warehouse to be transformed into a scientific park

Bucharest Sector 3’s City Hall intends to buy Republica Warehouse in order to develop a scientific park in the sector, according to a release of the local authorities.

Office space for employees, halved

The number of companies interested to rent offices in Bucharest is increasing this year, although the space assigned for an employee has decreased in certain cases from 10sq. m / person to 5-6 sq. m / person, which involves larger costs for the developers.

Papalekas to buy new distressed office projects the following year

Globalworth, the fund controlled by the businessman Ioannis Papalekas, intend to add new real estate assets in its portfolio in the next year and a half, the company being mainly interested in offices with financial problems in Bucharest, according to Dimitrios Raptis, deputy executive manager within the company.

Oracle could expand outside Bucharest to grow its business in Romania

Oracle intends to expand its business outside Bucharest, as the company will need more office space, following its plan to continue the investments in Romania and growing its business, has declared on Tuesday the American IT company’s president, Safra Catz.

Ericsson expands to 16,000 sq.m its offices in West Gate Bucharest

Ericsson Romania, local subsidiary of the Swedish telecommunications equipments producer, expands with 4,000 sq. m the office area occupied in Wes Gate business park, owned by Genesis Development in Western Bucharest. The area rented by Ericsson reaches 16,000 sq. m, while the contractual period extends by 2019.

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