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Articles - secondary office markets

Investors in the office market attracted by regional cities as an alternative to Bucharest

The accelerated economic development of the major regional centers in Romania is beginning to affect their real estate market as well. According to the Colliers International real estate consultancy, there are strong arguments to support the increased interest in office space rentals and the strong investment potential, so cities such as Cluj-Napoca, Timisoara, Iasi or Brasov offer an alternative to Bucharest.

Openville Timisoara will be inaugurated in the fourth quarter of 2018

Openville Timisoara, the largest mixed-use project in western Romania, will be inaugurated in the fourth quarter of next year with the completion of its first development phase.

The US Group Sykes to open new office in Brasov, Romania

Sykes Entreprises Eastern Europe, a provider of BPO solutions, Sykes Entreprises Eastern Europe, part of Sykes, plans to open an office in Braşov and has already begun recruiting on its own site.

Office space leased in Timisoara, up 12% over the previous year

Timisoara has experienced a significant volume of office space rented in the first nine months of this year, over 32,000 square meters, up 12% over the same period last year.

The Office Stock in Romania’s Regional Cities to Reach 1 Million Square Metres by the End of 2018

The stock of office space in the regional cities of Romania will be close to one million square meters at the end of next year, according to the Cushman & Wakefield Echinox real estate consultancy.

NEPI and Ovidiu Şandor have completed the office project The Office in Cluj-Napoca

The office project The Office, developed in Cluj-Napoca by the investment fund New Europe Property Investments (NEPI) and the entrepreneur Ovidiu Sandor, with a total rentable area of 59,000 square meters and with a capacity of over 5,000 people, was completed.

2017, Best Year For Cluj-Napoca Office Market – 44,000 Square Metres New Offices

Real estate developers will complete this year more than 44,000 square metres of offices in Cluj-Napoca, 300 pct more compared to the previous year. 2017 will also be the best year for the regional office market, according to Coldwell Banker Transilvania.

Top office markets outside Bucharest in 2016

Last year were registered 53 pct more office transactions outside Bucharest compared to 2015, the total volume reaching 71,560 sqm, according to a study made by ESOP. Half of the area was rented in Timișoara.

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