The average area of an office space transaction was 1,810 square metres in the first nine months of 2023, the highest level of the last four years and close to that of 2019, when it registered a historical record of 1,900 square meters, according to a survey conducted by a real estate consulting company.Compared to 2022 and 2021, the average area of an office space transaction this year increased by 35%, a dynamic that was reflected in the total leasing activity in the first nine months (of 347,000 square meters), 56% above the volume in the similar period last year. Moreover, the third quarter set a historical quarterly record in terms of demand for office space, with a total area of 157,100 sqm contracted in Bucharest, according to a Cushman & Wakefield Echinox release.According to the quoted source, if the rental activity remains at least at the level of the first 3 quarters, we may see this year, for the first time in history, the threshold of 400,000 sqm of traded office space exceeded. However, net demand (excluding renegotiations of existing contracts) accounted for 35% of the total volume let in Q3, and 44% in the first nine months. The vacancy rate showed a minor decrease to 14.9% compared to the beginning of the year when it was 15.2%.In the third quarter, the second building of the U-Center office project (32,500 sqm GLA) developed by Forte Partners in the central area of Bucharest was completed, so that in the first nine months of the year deliveries of new office space totalled 102,500 sqm, bringing the stock to 3.41 million sqm.As for the projects under construction, the supply is quite limited (80,000 sqm of such spaces), the lowest level of the past 16 years, due to uncertainties related to urban planning issues.Cushman & Wakefield Echinox, Cushman & Wakefield's exclusive, independently owned and operated affiliate in Romania, comprises a team of over 80 professionals offering a full range of real estate consulting services to investors, developers, landlords and tenants.
Representatives of the ruling Social Democratic Party, PSD, gathered for a congress in Bucharest on Friday, November 7, to elect new leadership and to amend the party’s Statute. The only candidate for party leader is Sorin Grindeanu, who held the interim position after Marcel Ciolacu's resignation in May. In his speech at the congress, Sorin […]
The e-commerce sector recorded strong early results on Black Friday 2025, according to real-time data released on Friday, November 7, by PayU GPO Romania from its dedicated Media Center. By 14:10, the payment processor reported successful transactions totaling RON 514 million (roughly EUR 101 million). PayU said shoppers had made roughly 889,000 purchases, with around […]
Contakt Express Logistik, one of Romania’s leading retailers of mobile phone and tablet accessories, with a network of over 235 stores, is set to launch the initial public offering (IPO) between November 12 and December 3, 2025. The company offers a wide range of products, including cases, screen protectors, chargers, and gadgets, both in physical […]
Romania attracts fewer international tourists today than it did during the communist era, making it the only country in Europe in this situation, the National Association of Travel Agencies (ANAT) warned, as reported by news agency Agerpres. According to the organization, Romania received more than 3.4...
InterCapital ETF, the first international ETF provider in Romania, will launch two new exchange-traded funds on the Bucharest Stock Exchange starting November 11, 2025. The new instruments are the InterCapital CROBEX10 TR UCITS ETF, which offers exposure to the Croatian blue-chip equity market by tracking the performance of the CROBEX10tr index, and the InterCapital EUR […]
The Competition Councils of Romania, Bulgaria, and the Republic of Moldova have granted the necessary authorizations and approvals for the completion of the transaction through which Maspex Romania takes over the majority shareholding of Purcari Wineries. The Maspex Group, which has been present in Romania for nearly 30 years, became the majority shareholder of one […]
