The local real estate market is expected to register almost 2 million sq m of new commercial properties (retail, office, industrial) delivered in 2019, representing a 37% year/year growth, according to the annual market report launched by Activ Property Services.
Full article can be viewed on our presentation website: https://www.activpropertyservices.ro/en/news/105-activ-property-services-launches-the-spring-2019-romania-real-estate-market-report
New offices of over 255,000 sq m GLA were delivered last year at national level, with top locations being Bucharest (150,000 sq m GLA) and Timisoara (53,000 sq m GLA). Major deliveries included Orhideea Towers, Globalworth Campus (building 2) and the first phase of Campus 6 in Bucharest, respectively new buildings as part of Coresi Brasov, Bega Business Park Timisoara, Isho Timisoara and United Business Center Riviera in Cluj-Napoca.
The total value of office deliveries is estimated at 504 million Euro, with an average rent that varies in between 11-15 Euro/sq m/month and an average yield of 7.5-8.5%.
Full article can be viewed on our valuation website:https://www.evaluari-proprietati-romania.ro/en/news/real-estate-properties-completed-in-2018.html
Activ Property Services brokered the lease of two office spaces in Art Business Center 5. The two spaces totaling 500 sq m on the 2nd floor were leased by GTM Managing Services and Vehicle Management System.
Both companies offer services for the automotive sector and have chosen Activ Property Services’s office consultancy throughout the online platform Spatii-de-birouri.ro.
Bucharest’s central business district developed around Victoriei Square is registering an upward evolution in office activity, with a historic record-high volume in take-up and a positive growth in pipeline stock, as showed by the latest office analysis conducted by Activ Property Services.
After many years during when the office activity followed an overall stagnation in Victoriei Square area, some major events were registered lately, including the construction start for the new Tiriac Tower, the sale of Bucharest Corporate Center and the relocation of Deloitte’s headquarters on more than 8,500 sq m GLA in The Mark project.