The office market in Bucharest recorded an increase of 24% for the number of transactions, in the first 9 months of the year, compared to the same period of 2020, according to a report made by experts of the real estate consulting company Avison Young. In quarter 3, 2021, the modern office area stock reached 3.43 million sq.m, while the non occupancy rate grew to 11.7% compared to 10% at the end of the previous quarter. Over 130,000 sq.m. of offices were completed in the period analyzed. According to the specialized report, the number of office areas scheduled to be completed in 2022 is lower, by 166,000 sq.m of areas under construction, of which 30%-40% are already pre-rented. In this context, Avison Young consultants recommend companies to begin looking for new headquarters at least 9-12 months in advance, to be able to benefit from the best options, and to personalize available locations to company needs. Since 2017 Avison Young has activated in Romania being now one of the most important real estate consulting companies in the market. Founded in 1978 in Toronto, Canada, Avison Young administers now over 37 million square meters. Over 5,000 real estate specialists activate in 100 offices in countries like Canada, USA, Germany, Great Britain, Poland and Romania.
Soulmates Ventures, a Prague-based Venture Capital (VC) firm, is strengthening its commitment to sustainable innovation with a EUR 50 million fund, increasing initial investments to up to EUR 3 million per startup, with follow-on funding totalling up to EUR 5 million to ensure long-term support. Investing under Article 9 of the SFDR, the accelerator and […]
The Public Transport Company of Timișoara (STPT), a major city in western Romania, said it will discontinue its electric scooter service, TroTM, starting this year. The decision comes due to concerns about the service’s efficiency and economic sustainability. Despite initial expectations, the TroTM service has seen limited usage, with only 350 users per month and […]
The Environmental Guard has fined Bucharest City Hall RON 100,000 (over EUR 20,000) for failing to implement several environmental measures, particularly regarding air quality and green space management. The sanction follows repeated inspections that revealed the municipality’s failure to comply with previous directives, according to the official announcement. One of the major issues identified is […]
The Babuk cybercrime network claims to have breached the system of the French telecommunications company Orange again on March 17, after the February 23 security breach, and stolen massive amounts of data. Now, the hackers threaten to make some of it public. In February, Romania’s National Cybersecurity Directorate, or DNSC, reported that the breach impacted […]
The isolationist far-right candidate, be it George Simion or Anamaria Gavrila, would win the first round of the presidential elections – but not at a wide margin, and either of them would lose in the second round against Bucharest mayor Nicusor Dan, according to a poll carried out by AtlasIntel for
The Ministry of Energy has mandated state-controlled Romgaz (BVB: SNG), the largest natural gas producer in Romania, to evaluate the takeover of the largest fertilizer production plant for Romanian agriculture, Azomureș, energy minister Sebastian Burduja said, according to
