Companies in IT, manufacturing, industry, and the medical and pharmaceutical sectors were the most active in Romania's office rental market over the past five years, generating over half of the demand for new space.
Property investor and asset manager Solida Capital has purchased the office project Victoria Center in Bucharest from Manova Partners, marking its first transaction in Romania and strategic expansion into CEE. The deal value was not made public.
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.
Cluj-Napoca recorded a fourfold growth in office leasing in 2024 and was the biggest regional market for such transactions, according to a Fortim Trusted Advisors analysis.
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.
Commercial real estate investments in Romania reached €750 million in 2024, marking a 58% increase compared to the previous year, though slightly below the €800 million annual average recorded over the past decade, according to a Colliers report.
Griffes' activity outside Bucharest accounted for 25% of its total transaction volume, with Cluj-Napoca leading the way.
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.
Weerts Group, the developer of the Unirii View Tower office building in Bucharest, has secured a credit facility worth €29.5 million from BCR. The funding will be used to refinance a previous loan for the office project's development.
Techbolide's activities intensified, the team has grown substantially, tripling its employee number in recent years.
The vibrant and well-connected environment of America House has played a key role in supporting OLX's growth, expanding from 65 employees in 2017 to approximately 200 employees.
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.
U•Center has been developed in line with Forte Partners' strategy to provide all the amenities and features of modern, comfortable urban living.
Romanian developer Iulius says its entire portfolio holds green certifications or is pending certification, with more than 500,000 sqm being included in the LEED standard for green buildings.
Evo Properties, the owner of London & Oslo office buildings in Western Bucharest, has reached a 50% lease rate this year and aims to reach an occupancy rate of 85% by the end of 2025. At the same time, it continues to transform the project into a mixed-use hub that will include a premium hotel.
Other key factors motivating employees to come back include having a clear work routine, ease of commuting and managers' expectations of physical presence.
Romania remains one of the most affordable countries in the EU for office fit-outs, with costs significantly lower than in Poland, the Czech Republic, or Western countries, according to research by iO Partners.
Hungarian investor Gránit Asset Management, with HUF 1,100 billion of assets under management, is reported to be nearing a deal for the purchase of the Equilibrium 1 building in northern Bucharest from Skanska, Romanian media reports.
The lease renewal is one of the most significant transactions this year, both in the Cluj-Napoca market and in the office market overall.
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.
The study reveals that 83% of Romanians have a plan for their upcoming vacation season. Only 6% do not intend to go on holiday, while 12% have yet to finalize their arrangements.
Travel tech company FlixBus is adding new international coach connections from Romania to Greece and bolstering existing routes to Bulgaria.
EDP, through its subsidiary EDP Renewables, has opened its largest solar park in Romania, located in Albina, taking its total solar and wind capacities in the country to 570 MW.
Romanian patients wait, on average, 460 days to access innovative medicines, even after these therapies have been approved for reimbursement by the National Agency for Medicines and Medical Devices (ANMDM).
The German tech company cbs purchased the SAP division of Romanian company SkyConsult, marking its entry into the local market.