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Green Satellite, EUR 900 million mixed-use project in Voluntari, to include offices on 100,000 sqm

GG Sky Imobiliare Invest, owned by the local businessman George Gaiţă, has plans to develop a large mixed project in Voluntari, near Bucharest.

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Austrian group Strabag to build Ana Tower office building in northern Bucharest

The Ana Group, controlled by local businessman George Copos, signed with Austrian company Strabag for the construction of Ana Tower office building, which will be completed by the end of next year, 19 months after the start of the works, according to the company.

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Wallberg Properties completes EUR 18.6 million local real estate projects and prepares new real estate projects

Wallberg Properties, a real estate development company active in local markets, announced the successful completion of Arad Plaza and Bourgeois Residence projects as well as the first phase of development of the Sunnyville residential complex in Braşov.

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1 Billion Euros Investments In the New Metropolitan Hub in Northern Bucharest

After initially it seemed that Barbu Văcărescu-Pipera had reached its potential, and the developers were moving to other districts of Bucharest, the area re-entered a new stage of development, transforming into the Northern Metropolitan Hub of Bucharest, a study of Bucharest Real Estate Club shows.

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AFI Europe Romania Net Operating Income (NOI) increased by 10% to over EUR 51 million during 2017

AFI Europe Romania published its financial results; The Net Operating Income (NOI) from its income producing assets in Romania reached to over EUR 51 million in 2017, representing 10.1% higher results compared to 2016.

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“The content and brand recognition you create is the long-term lasting print of your property and what it does in its environment. It should be more unique, and instead of simply saying green energy and social responsibility, it should rather emphasize unique benefits, tenant relations or even event organization. Such characteristics produce a long-lasting brand recognition.” (Vincent Vallois – OnlineRealAssets.com)

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Interview with Dan Lupu, CEO First Advertising Agency International

First Business Building is an A Class boutique office building, located in an area with great potential in Bucharest, near Muncii Square, developed by First Advertising Agency International. As expected, the footprint of a creative industry on the design and functionality of the building is indubitably a market advantage. We talked to Dan Lupu, CEO of the company, about the insights of moving from advertising to real estate.

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Date Business Center Tenant m2 Agency
2018 Q1 AFI Tech Park 1 Game World Group 2000
2018 Q1 AFI Tech Park 1 Quick Service Restaurant „1 Minute” 110
2018 Q1 AFI Tech Park 1 World Class 1500
2018 Q1 AFI Tech Park 1 Ecovis România 350

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Recent office market sellings

Date Office Buyer m2 Agency
2017 Q4 Northgate Office Building One United Properties 25891 Creativ Invest Grup
2017 Q3 Coresi Business Park Immochan 40000 Ascenta Management
2017 Q3 Cascade Offices GTC 4300 Adval Properties
2017 Q3 Green Court Bucharest Globalworth 16300 Skanska Romania

Office Market Service Companies

Office Rental Knowledge Base

You Should Know Before Selecting an Office Building

What is a Sublease Office and what are its advantages?

Tenants often measure poorly their own space requirements, which may change significantly due to the effect of the current economic situation or the strategy of the mother company. When bigger office spaces are released the best solution could be to sublease. At the same time it is worth to know that circumstances of subletting are often controlled and conditioned by the owner. In Western Europe the sublease rent practice is more popular than in the Central-Eastern European countries. The sub-lessee can take advantage not only from the favorable price but also of not having to commit themselves for at least 5 years in this uncertain market environment but only until the end of the remaining rental period. This is a great opportunity for those small businesses who do not want to commit themselves for a long period. It is important to know that unlike the general office market offers, these sublease possibilities are not publicly advertised but are only available through real estate brokers and advisers. The advisers, having extensive market knowledge, help to find the balance between the sub-lessor and subtenant, creating favorable contract conditions for both parties.

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Green Building Certificates – LEED

In the United States and in a number of other countries around the world, LEED - Leadership in Energy and Environmental Design - certification is the recognized standard for measuring building sustainability. Achieving LEED certification is the best way for you to demonstrate that your building project is truly "green." The LEED rating system offers four certification levels for new construction -- Certified, Silver, Gold and Platinum -- that correspond to the number of credits accrued in five green design categories: sustainable sites, water efficiency, energy and atmosphere, materials and resources and indoor environmental quality. LEED standards cover new commercial construction and major renovation projects, interiors projects and existing building operations. Standards are under development to cover commercial "core & shell" construction, new home construction and neighborhood developments.

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Who uses BREEAM?

Clients, planners, development agencies, funders and developers use BREEAM to specify the sustainability performance of their buildings in a way that is quick, comprehensive, highly visible in the marketplace and provides a level playing field. Property agents use it to promote the environmental credentials and benefits of a building to potential purchasers and tenants. Design Teams use it as a method to improve the performance of their buildings and their own experience and knowledge of environmental aspects of sustainability. Managers use it to reduce running costs, measure and improve the performance of buildings, empower staff, develop action plans and monitor and report performance at both the single and portfolio level.

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