Real estate transactions for office buildings, logistic areas and investment market in Bucharest will exceed 800 million euros in 2015, according to a study made by the real estate consulting company Colliers International. Outsourcing services continue to be the most powerful office sector as Romania has become more and more visible for big companies like BPO, SSC and IT, interested in Bucharest and secondary towns. Over 60,000 people are now employed in outsourcing activities and up to 150,000 employees are expected in this sector in the next 5 years. The most dynamic are for office areas is still Floreasca-Barbu Vacarescu which may reach a total stock of half a million square metres by 2020. The modern building stock has generated most demands, about 215,000 sq.m being rented in the last five years. The area will continue to be an attraction pole in the future, considering that over 155,000 sq.m of office areas will be built by the end of 2020. Bucharest is among East European Capitals offering 7.5% for the office sector, a similar retail level and about 9% for the industrial sector. Logistic areas have a vacancy degree of 8%, but by the end of 2016 the stocl will grow by 100,000 sq.m. The value of rents for new areas is between 3.5 and 4.15 euros/sq.m. According to the estimated consumption increase, Bucharest might have an additional 100,000 sq.m. of retail (non-food) areas, so that it could reach a total stock of over 900,000 sq.m of retail areas. In the last two years, the northern and Theodor Pallady areas have been the most active areas in Bucharest in point of land transactions. The northern part of the Capital, which includes Aviatiei, Barbu Vacarescu, Caramfil, Dimitrie Pompeiu and Floreasca, reported investments of over 100 million euros in land, with transactions for over 20 ha. For Theodor Pallady, the residential and retail sectors generated transactions for 50 ha, worth over 60 million euros.
A caravan of 150 cyclists, 90 cars and 25 motorbikes covered 830 km at the Tour of Romania, the most important local cycling competition, organized between 10 and 14 September by the Romanian Cycling Federation, together with the National Agency for Sports and Auchan Romania, the main co-organizing partner. In addition to the elite sports […]
certSIGN, a Romania-based company and leading developer and integrator of cybersecurity and cryptographic solutions, has been awarded, following a competitive international tender process, a framework contract to support the European Union Agency for Cybersecurity (ENISA) in providing cybersecurity services to Romania. certSIGN will lead a consortium including Bit Sentinel and CybrOps to deliver cybersecurity preparedness […]
Pets are now officially welcome inside Cluj-Napoca City Hall, mayor Emil Boc announced on Monday, September 15, describing the move as part of efforts to make the city more modern and empathetic. “Today we are opening the doors of City Hall to our voiceless friends as well. Dear residents, from now on, pets are welcome […]
Romania is currently discussing with Ukraine the possibility of developing joint drone production projects, according to defense minister Ionuț Moșteanu. Drones have been at the forefront of the war between Ukraine and Russia, used by both sides for reconnaissance, surveillance, but also deep strikes in enemy territory. The prevalence of drones on the battlefield and […]
The Băile Govora resort, in southern Romania, will have a new adventure park, with a zip line, alpine coaster, and even off-road bicycle tracks, according to a plan announced on Monday, September 15, by the Băile Govora City Hall. The goal of the investment is to develop leisure tourism in the resort famed for its […]
Romania’s prime minister Ilie Bolojan reportedly opposes the idea of further prolonging the price-capping mechanism introduced in August 2023 and repeatedly extended so far, according to Ziarul Financiar. Ambiguous statements over the weekend indicated an incipient conflict among the ruling coalition’s...
