IWG opens new coworking space in Bucharest

Business Forum

9 January, 2025 at 8:49 AM

IWG is opening a new coworking location under the Spaces brand in Bucharest-based Vastint Business Garden building that will focus on hybrid work demand.

The new Spaces location, covering a total of 1,900 sqm, will feature private offices, meeting rooms, co-working spaces, and creative spaces.

“As an important business hub, Bucharest is a fantastic place for us to boost our expansion plans. The demand for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal,” says Mark Dixon, CEO & Founder of IWG.

He added that the new location in Bucharest comes at a time when more and more companies are discovering that flexible working enhances employee well-being and satisfaction while also helping the environment.

The new Spaces location is within walking distance of Gara de Nord and the Grozăvești (M1 line) and Basarab (M3 line) metro stations, providing quick access to central areas such as Piața Unirii and Piața Victoriei.

IWG has more than 4,000 locations in more than 120 countries. The company added 465 new locations worldwide during 2024.

Vastint Romania signs first tenant for TNS Phase 2

Vastint Romania, part of Vastint Group, has signed the first lease agreement for the second phase of Timpuri Noi Square (TNS). Scor, a global reinsurer, has selected the project for its permanent operations in Romania, where it will occupy 3,250 sqm.

Real estate

Bucharest office fit-out, among the most affordable in CEE

The average total office fit-out costs in Bucharest increased slightly in 2025 to around €1,000 per sqm, according to data from Cushman & Wakefield Echinox. However, Bucharest remains one of the most affordable markets in CEE, with fit-out costs 18% and 15% lower than in Warsaw and Prague, respectively.

Real estate

aSpace sees 85% occupancy for Bucharest flex offices in 2025

aSpace, Romania's largest domestic coworking and flexible office network, achieved an average occupancy rate of 85% in 2025, up from 80% in 2024, reaching 390 tenants in its portfolio. 

Real estate

Bucharest flex office deliveries triple in 2025

Bucharest's flexible office market has reached 74,000 sqm across 48 locations, representing over 2% of the city's modern office stock. The sector grew 8.1% year-on-year in 2025, supported by 5,600 sqm of new deliveries - a 327% increase compared to the previous year, according to an analysis by iO Partners.

Real estate

Bucharest office leasing down 20% in 2024

Bucharest recorded a 20% decline in office leasing, to 339,000 sqm, in 2024, compared to the previous year, although it remained above the five-year average, according to a Colliers report.

Real estate

Return to office mandates to boost demand for new spaces

Vlad Săftoiu, Head of Research Cushman & Wakefield Echinox, talked to Property Forum about the demand trends in the Romanian office market and the outlook for industrial and retail investments in 2025.

Real estate

Praktiker Real Estate buys office building in Bucharest

Praktiker Real Estate, the property company owned by Turkish investor Omer Susli, has purchased the Muntenia Business Center offices, in central Bucharest, from Longshield Investment Group for €8 million.