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TELUS International Europe awarded Most Innovative Office in Romania

On November 10th, 2016, CBRE, in partnership with Skanska, announced the winners of The Most Office competition in Bucharest.

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DTZ: Office demand outside Bucharest to reach highest-ever volume

In 2015 the volume of pre-leasing in the main regional cities was three times higher than the previous year, states a new release from DTZ Echinox.

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JLL: Demand of Bucharest offices, mainly driven up by BPS and ITO in Q2

The office demand in Bucharest in the second quarter of 2016 was mainly generated by IT and BPO / SSC companies, which accounted for over 40% of the total volume registered, followed by banks with approximately 21% and health and pharma companies with 17%, says the most recent JLL report.

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Romanian real estate investments up 80% in the first half

Bucharest leads the local market with 48% of investment transactions, followed by Sibiu with 29%, says a JLL report.

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Hanner puts tens of millions into the Bucharest offices, after 60 mil. Euro in residential

Lithuanians from Hanner Holding, the real estate investor known in Romania for the development of The Park residential project, expands to the office segment by acquiring part of the land plot of the former Grivița Beer Factory, in center-west Bucharest.

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Telus expands to AFI Park 4&5, AFI Tech underway

AFI Europe Romania has leased an extra 3,000 sqm of space to Telus International in AFI Park 4&5 office buildings, thus reaching a 70% occupancy rate. Telus International already occupies 5 floors in AFI Park 3. AFI also announces the development of a new 50,000 sqm TECH Park.

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Vastint ups to 70,000 sqm Class A projects under construction in Bucharest

Vastint Romania is starting the construction process for all three buildings in Business Garden Bucharest, totaling about 41,000 sqm of modern, class A office space and ground floor areas for retail. PORR Construct is the general contractor of the project and commissioning is planned for the second half of 2018.

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CBRE and Skanska launch a new contest for Romanian offices

CBRE's office division launches the first contest held in Romania, says Razvan Iorgu, managing director of the company. The CBRE's initiative, implemented in partnership with Skanska, one of the leading builders and developers in the world, aims to discover, promote and reward the most beautiful office in Bucharest.

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RE/MAX GdL: The real estate market in Cluj-Napoca exceeds 1 billion euros

RE/MAX Grup de Lux, one of the first franchises RE/ MAX in Romania in Cluj-Napoca, estimates that the housing market Cluj will reach this year a value of over 1 billion euros if taken into account all categories of transactions.

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Colliers: Premium Point and Premium Plaza acquired by Global Trade Center

Global Trade Center acquired Premium Point and Premium Plaza office buildings in Victoriei Square, in Bucharest. The transaction was advised by Colliers International as representative of the seller.

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Exclusive OT: Vastint invests big into Bucharest's real estate

Inter Ikea's real estate asset division invested since 2008 in the development of almost 200,000 sqm of offices, retail and residential spaces in Bucharest, now in various development stages. And this year it bought another 48 hectares of land in Bucharest's north-eastern area to add to its projects, says Antoniu Panait, managing director, Vastint Romania.

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Birouri Vii: A space for people, a project for the IT & Outsourcing community

Birouri Vii – "A space for people" is launching as a project meant to bring forward the IT & Outsourcing community from North-Eastern Romania through a series of video-interviews taken within different company offices, with the very passionate people working there, as well as with those managers for whom creating a friendly and relaxing environment for their employees, is more than important.

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Colliers reports first office sale this year: Phoenix Tower goes to Adamamerica

Aberdeen Asset Management Deutschaland and Commerzbank signed an agreement to sell Phoenix Tower building in Bucharest to Adamamerica, according to a Colliers release.

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Exclusive OT: Even if local financing gets easier, market still lacks liquidity- Furdui, Portland

During the past years, local financing for real estate large projects became easier, but the market still lack a benchmark yield and is marked by lack of liquidity, Florin Furdui, country manager, Portland Trust tells Outsourcing Today.

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Class A and B offices employees up to 200,000 in Bucharest, 20% growth rate- DTZ

The number of employees in the Class A and B office buildings in Bucharest at the end Q4 2015 was of 204,062, according to a DTZ report, while an annual growth rate of 20% is provided for 2016.

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FotoNation leases 1,800 sqm in AFI Park 4&5, occupancy up to 60%

AFI Europe Romania has signed a new lease agreement in the office building AFI Park 4&5 with FotoNation, a TESSERA company, reaching a 60% occupancy rate.

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iQuest expands Brasov offices in Coresi BP Brasov

Global IT services and solutions provider iQuest leased 1,650 sqm in L1, the first building of the second development phase of Coresi Business Park.

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CBRE: CEE real estate investments up 25%, Bucharest and Warsaw at record levels

Investment into Central and Eastern European (CEE) countries (excluding Russia) for 2015 increased by 25% compared to 2014, reaching 9.9 billion euro, says a CBRE report.

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Excusive OT - Paun, Colliers: Outsourcing took about 40% of the 2015 office market

Business processes and IT outsourcing and shared services centers have taken about 40% of the overall offices demand from the overall market in 2015, tells Outsourcing Today the associate director of Colliers International (Romania), Andreea Paun.

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JLL: Large investors dominate the Romanian estate market, lower yields

Real estate large investors such as CTP, JLL, P3, NEPI and Globalworth bought Romanian real estate assets worth over half a billion euros during the past year, according to JLL.

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Colliers: Romania saw 45% of 800 mln. euro RE investments going into offices

While 34% of the real estate investments in Romania were directed towards industrial spaces, and 21% towards retail, it was the office market that witnessed the largest investment flow during 2015, with 45% on the balance, according to a Colliers study.

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JLL: Romania will finish this year projects worth 800 mln. euro

Developers are expected to deliver over 700,000 sqm of new real estate projects in 2016, with a combined investment value of over EUR 800 million. Office buildings will remain in the top of developers' preferences, followed by retail and logistic.

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CBRE: Bucharest will witness a fivefold increase in office space, IT - best lessee

A record area of office space will be delivered in 2016 in Bucharest, according to a CBRE report. In 2016 408,000 sqm of new offices will be delivered, over five times more than the total of 72,500 square meters in 2015 and 10% more than the volume of 2009, which represented a historical record of the local real estate market.

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AFI Europe Pre-Leases 16,000 sqm, with Cameron, SII and Ortec among tenants

Office buildings AFI Park 4 and 5 in Bucharest have reached 50% (16,000 sqm) pre-leasing rate at the beginning of 2016.

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CBRE: Romanian CRE investments down 45%, CEE retail up 160% in 2015

Investment into Central and Eastern European (CEE) countries (excluding Russia) for 2015 reached a historic high level at over Euro 9.55 billion, representing a 19% increase year on year.

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Genpact, Luxoft and Oracle, top lessees for Bucharest offices; 2016 market, up 20%-Esop

The 2016 office rental market may grow by 20-25% compared to 2015, says Alexandru Petrescu, managing partner ESOP Consulting, CORFAC International.

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DTZ: Bucharest office market up 10% at 9 M 2015

The total trading activity in Bucharest was approximately 10% higher in the first nine months (9m) of the year as compared to the same period of last year, says DTZ.

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CBRE: Outsourcing companies expand more and more into towns

Most outsourcing companies are present in Bucharest (47%) and in one of the major regional centers such as Cluj Napoca (12%), Timisoara (8%) and Brasov (7%). With intensifying competition to attract labor, companies tend to expand in towns, like Targu Mures (5%), Galati (3%) or smaller towns such as Suceava and Targu Jiu, reveals a CBRE study.

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Colliers: Outsourcing businesses, prominent pillars of the office sector

Real estate market has gained momentum and transaction volumes will be close to Euro 800 million by the end of the year, encouraged by stable economic environment and growth potential.

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AFI net income up 8% at 9M, Romanian projects valued at 600 mln. euro

The net operating income (NOI) of the Romanian portfolio of AFI Europe Romania increased to euro 30 million, 8.2% higher then the first nine months (9M) of 2014. AFI Palace Cotroceni, the biggest asset, was valued as of 30.09.2015 at euro 434 million.

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CBRE: Romanian outsourcing industry has 310 offices and 0.5 mln. sqm

Business Processes Outsourcing (BPO) and Information Techology Outsourcing (ITO) sectors are the most lucrative segments within the outsourcing business in Romania, each with around 22 – 23,000 employees, throughout the country, states a recent survey by CBRE.

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Romania sees office investments worth 600 mln euro at 9M

Romania posts an investment level of 600 million euro worth of office buildings under construction for the first nine months (9M) of 2015, according to Jones Lang La Salle (JLL).

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JLL: Office market in CEE continues to grow

Approximately 2 million sq m of office stock remain under construction across Central and Eastern Europe. The business services sector with its compound annual growth rate of 17% is one of the major factors generating the expansion of office markets throughout the region, reveals a JLL release.

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Opinion, Dan Zaharia: The office buildings become the new factories of Iasi

The office buildings are becoming the new factories of Iasi, the software and outsourcing factories for the entire community in the city.

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NEWS
AFI Brasov Mall begins the construction with 80 per cent assigned spaces

AFI Romania announced that the leasing campaign in AFI Brasov has advanced and has already assigned 80% of the spaces, a press release informs.

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NTT Data takes up 4,000 square meters in Unirii View office project

NTT Data Romania, the software services and solutions provider, leased 4,000 square meters in Unirii View office project, the 18th floors tower that is being under development in downtown Bucharest, only five m

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Norwegian software developer leases 4.200 sqm in Iulius' Unites Business Center 3

Iulius Company and Visma Software, a Norwegian developer of business management software solutions, have signed a lease agreement for office premises within the United Business Center 3 (UBC 3) office building

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Skanska puts 37 million Euro in the first phase of a new office project in Bucharest, Equilibrium

Skanska announced it secured 37 million Euro for the first phase of the office project Equilibrium located in the northern part of Bucharest, Romania, Barbu-Vacarescu area.

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Colliers: More than 265,000 sqm of office area is scheduled for delivery in 2017

More than 265,000 sqm of office area is scheduled for delivery in 2017, broadly in line with the level received in 2016, according to the recently launched market report of Colliers.

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AFI Europe Romania and Dedeman sign agreements to sell the office project AFI Park for 164 million Euro

AFI Europe signed a pre-agreement to sell AFI Park 1-3 office buildings to Dedeman, the leading company in Romania in the DIY retail segment. The agreement also includes an option to sell AFI Park 4&5. The tota

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Skanska started the workings at Campus 6, its newest project locally

The official ceremony joined local officials, such as Gabriel Mutu, mayor of bucharest's sixth district, Aurelia Luca, Country Manager Skanska Property România, Katarzyna Zawodna, Business Unit President Skans

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Office buildings in expansion in centre-southern area în Bucharest, IT companies among main drivers for growth

Many office buildings have been built lately in the most expensive area in Bucharest - centre and northern (Barbu Vacarescu - Dimitrie Pompeiu), but office building developers shifted their orientation to the c

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IBM leases 18.000 sqm in Forte Partners' The Bridge office building

Real estate developer Forte Partners it leased 18.000 sqm office space out of a total of 36.000 sqm of The Bridge office building, one of the latest developments of the company, located near the Basarab overpas

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Network One Distribution rents 30,000 sqm warehouse in CTPark Bucharest West

Network One Distribution (NOD) rented a warehouse area of more than 30,000 sqm in the park controlled by CTP near Bucharest, CTPark Bucharest West.

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EDITOR CHOICE
Preparing for the new future

Business shared services in Romania is by nature a flexible, mobile and diverse community and in this context, local markets develop their own particularities to address the global changes, to adjust to new dem

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EY: Work-life balance has become more difficult to be managed by one third of full-time employees in 8 large countries

EY's global survey of full-time workers in eight countries finds that one-third say managing work-life has become more difficult, with younger generations and parents hit hardest.

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Welcome onboard!

By 2020, some 200.000 people are expected to work in business shared services in Romania, doubling the current employment portfolio enrolled in more than 120 companies operating BPO, SSC or ITO services. Howeve

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