Vastint Romania signs first tenant for TNS Phase 2

Business Forum
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.

The company currently occupies 2,320 sqm at Business Garden Bucharest, also part of Vastint Romania's portfolio, and will relocate to the larger space at TNS Phase 2 next summer.

"Signing this pre-lease agreement with Scor marks a natural continuation of a partnership that started within our own portfolio," said Antoniu Panait, Managing Director at Vastint Romania. "We are in advanced discussions with several other companies interested in TNS Phase 2, further confirming the appeal of our project."

"Scor Bucharest has a clear direction to build a strong team and expand its capabilities. Our decision to move into a larger space reflects our confidence in our success on the Romanian market and our long-term commitment to growing our presence here," said Andrei Romanescu, General Manager Scor Bucharest.

The lease was facilitated by CBRE Romania.

TNS Phase 2, set for completion in Q4 2026, will add 60,000 sqm and introduce two new office buildings, doubling the available office and retail space to 112,000 sqm. The first phase's three buildings, totalling 52,100 sqm, are now 100% leased.

RECOMMENDED
Vastint Romania adds flex office modules to portfolio
Real estate

Vastint Romania adds flex office modules to portfolio

Vastint Romania has rolled out a new business solution offering autonomous, fully furnished office modules for short-term lease agreements in response to growing demand for flexibility in the office market.

Bucharest office market sees lower demand over tech slowdown
Real estate

Bucharest office market sees lower demand over tech slowdown

Total demand for office leasing in Bucharest dropped by 25% to 236,000 sqm in Q3 compared to the same period of 2023, while new demand fell 11% to 82,000 sqm in the same interval due to the slowdown of the IT&C sector, according to a Colliers report. 

RECOMMENDED FROM THE HOME PAGE
Electrica secures grid permits for 700 MWh of storage
Energy

Electrica secures grid permits for 700 MWh of storage

Energy company Electrica informs investors and the capital market that it has obtained the technical grid connection permits (ATR) for 17 new battery energy storage projects (BESS), with a total capacity of approximately 700 MWh.

Energy

Romanian grid operator to support peak power consumption during heatwave

Romania's national electricity transmission network operator, Transelectrica, has halted scheduled maintenance shutdowns to ensure the grid operates at maximum capacity during an ongoing extreme heatwave. The preventive measures aim to mitigate operational risks associated with severe weather conditions.