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Related news

Data center investors enter race for land plots in Romania

The land market in Bucharest and other regional cities is seeing increasing demand from developers of data centers that want to accommodate growing investments in the country’s IT&C industry, according to a report by iO Partners.

Property investments in Romania soar to €655 million over nine months

Romania's property investment market reached close to €655 million in the first nine months of 2024, up by 169% compared to the same period of last year, according to an iO Partners report.

Henkel becomes the newest tenant of the Equilibrium office project in Bucharest, developed by Skanska

Henkel has rented around 4,000 square meters for its new headquarters located on the 10th and 11th floors of the Equilibrium 2 building, delivered by Skanska in December 2022, according to the online publication profit.ro.

Office space fit-out costs have increased by 10-15% in the last year in Romania

Average costs for office space fit-outs in Romania are 10-15% higher than the previous year, primarily due to increased labor costs, according to a report by iO Partners. Despite this, Romania remains one of the most affordable countries in the EU for office fit-outs, with costs significantly lower than in Poland, the Czech Republic, or Western countries. The report, based on data from over 40 iO Partners projects, reflects recent market trends and the challenges companies face when designing office spaces.

Endava Romania renews its lease at the UBC building, part of the IULIUS portfolio in Cluj-Napoca

British software services company Endava has renewed its lease for a further five years at the United Business Center building, part of the Iulius Mall Cluj development. The deal, brokered by real estate consultancy Colliers, covers 4,300 square meters of office space and will allow the company to strengthen its local team and continue its expansion in Cluj-Napoca

Tenants continue to dominate the office market, although in some areas of Bucharest, there remains a trend toward a more landlord-friendly market

Trading activity in the office market slowed in the third quarter of this year, mirroring trends from 2021-2022. Total demand for modern leased office space in Bucharest dropped by 25% to 236,000 square meters compared to the same period in 2023. New lease demand reached 82,000 square meters, reflecting an 11% decrease year-on-year, according to Colliers data.

Office market: About half of leases signed in Bucharest during first half of this year were renewals

Leasing activity in the Bucharest office market in the first half of 2024 saw new demand rise by 7% year-on-year, reaching 64,000 square meters, while total demand slightly decreased to 160,000 square meters, according to Colliers’ report on real estate market developments for the first half of the year.

Colliers' Construction division appointed Project Manager by Infineon Technologies for its new headquarters

German giant Infineon Technologies, a global semiconductor leader in power systems and IoT, has appointed Colliers as the project manager for its new Romanian headquarters, which will be built in the Dimitrie Pompeiu area of Bucharest by the leading real estate investor and developer One United Properties.

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