Demand for office spaces surged by over 60%, with transactions up to 1,000 sq. m being the most prevalent

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Bucharest, May 2024: The office market in Bucharest has shown a sustained demand growth in Q1, both in terms of the transacted volume and of the average lease size, amid an extremely limited new supply, according to data from the Cushman & Wakefield Echinox real estate consultancy company. Companies leased 91,000 sq. m of office … Continued

Manufacturing companies were driving the industrial & logistics leasing market in Q1 2024

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Bucharest, May 2024: Companies leased approximately 200,000 sq. m of industrial and logistics spaces in Q1, the demand being primarily generated by manufacturing companies, FMCG and logistics operators, according to data from the Cushman & Wakefield Echinox real estate consultancy company. Romania ranked second regionally in terms of the Q1 demand, after Poland, the uncontested … Continued

Flydubai, the UAE-based airline, opens an office in Bucharest in the Eminescu Offices building through a transaction brokered by the Cushman & Wakefield Echinox

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Bucharest, April 2024: flydubai, the UAE-based airline, opens an office in Bucharest in the Eminescu Offices building through a transaction brokered by the Cushman & Wakefield Echinox real estate consultancy company. flydubai, founded in 2008, is a low-cost airline from the United Arab Emirates. The company was established with the aim of offering affordable and … Continued

Join us in the celebration of Earth Day focusing on making small changes for our environment

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We recognize that change needs to happen in all aspects of what we do, how we work and who we work with. We believe that demonstrating our sustainability commitments in the way we approach events is a natural part of our ESG journey. On April 22 join us in celebrating Earth Day. A day dedicated … Continued

18 Gym Fitness & Beauty expands in Arad within Agora Shopping Center, the former Galleria through a transaction brokered by the Cushman & Wakefield Echinox real estate consultancy company

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Bucharest, April 2024: 18 Gym Fitness & Beauty, the third-largest health & fitness network in Romania and one of the most dynamic players in this sector, will open a new location within Agora Arad (the former Galleria Arad) through a transaction brokered by the Cushman & Wakefield Echinox real estate consultancy company. The new 18 … Continued

On average, companies spend €15,000 on fitting out each employee’s office space. With an average level of €943 per sq. m of office space, the cost in Bucharest is 32% below those in Warsaw and Prague

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Bucharest, April 2024: The average office fit-out costs have increased by around 15-20% during the past 12 months, but they still remain among the lowest in the Central and Eastern Europe (CEE), according to data from the Cushman & Wakefield Echinox real estate consultancy company. With an average level of €943 per sq. m of … Continued

THE MODERN OFFICE STOCK IN THE MAJOR REGIONAL CITIES EXCEEDED 1 MILLION SQ. M; IASI OVERTAKES TIMISOARA AND BECOMES THE SECOND – LARGEST REGIONAL HUB, AFTER CLUJ – NAPOCA

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Bucharest, April 2024: Developers finalized the construction of 83,000 sq. m of new office projects in the major regional cities (Cluj – Napoca, Timisoara, Iasi and Brasov) in 2023, as the modern office stock exceeded the 1 million sq. m threshold, representing around 30% of the corresponding total in Bucharest. Iasi is the only city … Continued

STEFAN SURCEL, PROMOTED HEAD OF INDUSTRIAL AGENCY AT CUSHMAN & WAKEFIELD ECHINOX

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Bucharest, April 2024: Cushman & Wakefield Echinox announces the promotion of Ștefan Surcel as Head of Industrial Agency. In his new role, Stefan will coordinate the activity of the company’s Industrial department and will focus on further developing the existing relationships with strategic clients and also on identifying and creating new market opportunities. Oana Iliescu, … Continued

CPI ROMANIA HAS APPOINTED CUSHMAN & WAKEFIELD ECHINOX TO MANAGE THE EXPO BUSINESS PARK OFFICE PROJECT IN BUCHAREST

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Bucharest, March 2024: The Cushman & Wakefield Echinox real estate consulting company has been appointed to manage the Expo Business Park office project, one of the most representative projects in the Expozitiei area of Bucharest, starting from January 2024. As a result, the portfolio managed by the company’s asset services department reached almost 500,000 sq. … Continued

BUCHAREST AMONG THE MOST AFFORDABLE RESIDENTIAL MARKETS IN EUROPE; RISING WAGES AND EASING FINANCING CONDITIONS FAVOR HIGHER PRICES

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Bucharest, March 2024: Bucharest ranks among the major European cities with the lowest housing prices and the highest affordability ratios, according to data from the Cushman & Wakefield Echinox real estate consultancy company. The expected increases in wages as a result of the positive economic developments and also the easing of financing conditions are likely … Continued

LEROY MERLIN TO EXPAND IN 2 KEY AREAS OF BUCHAREST WITHIN THE SUPERNOVA LUJERULUI AND SUPERNOVA PANTELIMON COMMERCIAL GALLERIES

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Bucharest, March 2024: Leroy Merlin, the second-largest DIY retailer in Romania by revenue, leased 2 retail spaces in Bucharest with a combined area of 21,000 sq. m from the Supernova Group, through a transaction brokered by the Cushman & Wakefield Echinox real estate consultancy company. These spaces of 8,300 sq. m and 13,000 sq. m … Continued

LA COCOS OPENS A NEW STORE IN BRASOV, WHICH BECOMES THE THIRD CITY WHERE THE LOCAL RETAIL CHAIN IS PRESENT

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Bucharest, March 2024: The La Cocos local retail chain continues its expansion in Romania by opening a new store in Brasov, its fourth hypermarket in the country, through a transaction brokered by the Cushman & Wakefield Echinox real estate consultancy company. The new store will have an area of approximately 10,000 sq. m, being located … Continued

BUCHAREST HOTEL MARKET REBOUNDS, A TREND THAT COULD ENCOURAGE THE OPPORTUNITIES IN TRANSACTION SCENE

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Bucharest, February 2024: While the average hotel occupancy level across the CEE-6 capitals – including Bucharest, Bratislava, Budapest, Prague, Sofia, and Warsaw – in 2023 lagged 2019 by 9%, the ADR surpassed it by 23%, resulting in a 12% RevPAR growth, according to data from the real estate consulting company Cushman & Wakefield. The strongest … Continued

THE OFFICE MARKET PARADOX: RELUCTANT INVESTORS IN THE YEAR WITH THE HIGHEST TAKE-UP EVER

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Bucharest, February 2024: Real estate investment transactions amounting to more than €600 million are currently in advanced stages of negotiation, as the volume registered throughout 2023 could be matched in the first half of this year, according to data from the Cushman & Wakefield Echinox real estate consultancy company. Ongoing negotiations target office buildings (30% … Continued

NEW TAKE-UP RECORD SET ON THE BUCHAREST OFFICE MARKET IN 2023; MORE THAN 1 MILLION SQ. M WERE LEASED IN 2021-2023, IN A PERIOD WHEN TENANTS RECALIBRATED THEIR OFFICE NEEDS

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Bucharest, February 2024: 116,000 sq. m of office spaces were leased in Bucharest in Q4 2023, thus bringing the total 2023 transactional volume to over 463,000 sq. m, an all – time annual take-up record, according to data from the Cushman & Wakefield Echinox real estate consultancy company. The volume in question increased by 43% … Continued

THE MODERN STOCK OF INDUSTRIAL AND LOGISTICS SPACES EXCEEDED 7 MILLION SQ. M ACROSS THE COUNTRY; 500,000 SQ. M OF NEW PROJECTS DUE TO BE DELIVERED IN 2024

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Bucharest, January 2024:  The modern stock of industrial and logistics spaces exceeded 7 million sq. m across the country at the end of 2023, almost 80% of the total stock being concentrated in 3 development regions – Bucharest – Ilfov, West and South-Muntenia. Projects with a total area of around 452,000 sq. m were delivered in … Continued

SECURITAS RELOCATES ITS OFFICES TO @EXPO ATENOR BUCHAREST

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Bucharest, January 2024: Securitas, a global leader in security services, relocated its offices in Romania to @Expo office complex developed by Atenor in the Expozitiei area of Bucharest, in a transaction brokered by the Cushman & Wakefield Echinox real estate consultancy company. The company occupies a 1,250 sq. m space in @Expo, one of the … Continued

THE DEVELOPMENT ACTIVITY IN THE RETAIL MARKET REMAINS ANIMATED: CLOSE TO 215,000 SQ. M OF RETAIL SPACES WERE DELIVERED IN 2023, THE HIGHEST LEVEL DURING THE LAST 7 YEARS

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Bucharest, January 2024: Developers completed 11 retail projects in 2023, totaling approximately 215,000 sq. m, a record level during the past 7 years, with retail parks having a 60% share, with cities such Bucharest, Craiova, Alba Iulia, Arad, Giurgiu, Vaslui benefiting from such investments. The investment plans for the next 5 years are also consistent, … Continued

MACROECONOMIC UNCERTAINTY, CONSUMPTION CONTRACTION AND INTEREST RATES ARE THE MAIN CONCERNS FOR REAL ESTATE INVESTORS

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Bucharest, January 2024: Macroeconomic uncertainty, consumption contraction, interest rates and also inflation are the main factors which may impact the Romanian real estate market, according to the real estate investors and developers who responded to the second edition of the Cushman & Wakefield Echinox “Real Estate Investors Sentiment Barometer”. However, despite all the above-mentioned issues, … Continued

CUSHMAN & WAKEFIELD ECHINOX EXPANDS ITS TEAM: ANAMARIA CRETU JOINS THE OFFICE AGENCY

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Bucharest, December 2023: Cushman & Wakefield Echinox strengthens its office agency by recruiting Anamaria Crețu, a specialist with 18 years of multinational corporate experience. With a vast background in the real estate market, Anamaria had been part of Skanska’s team during the past 8 years, one of the world’s leading project development and construction groups, … Continued

CUSHMAN & WAKEFIELD ECHINOX EXPANDS ITS TEAM: RALUCA STANISLAV JOINS AS HEAD OF BUSINESS DEVELOPMENT

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Bucharest, December 2023: Cushman & Wakefield Echinox consolidates its team by recruiting Raluca Stanislav as Head of Business Development. Raluca has over 20 years of experience in the real estate and construction industry in Romania and in the entire CEE region. Over the past 10 years, she has led various divisions within Skanska, one of … Continued

NEW YORK’S FIFTH AVENUE RETAINS TOP RANKING AS WORLD’S MOST EXPENSIVE RETAIL DESTINATION

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Milan’s Via Montenapoleone climbs to second place after 20% increase in retail rents, displacing Hong Kong’s Tsim Sha Tsui into third London’s New Bond Street and Paris’s Avenues des Champs-Élysées also feature in the top five of global ranking Retail rents in prime global locations continue to recover, showing resiliency and growing by an average … Continued

JIMMY KEY OPENS THE SECOND STORE IN ROMANIA, IN AFI COTROCENI BUCHAREST

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Bucharest, November 2023: Jimmy Key company from Turkey, with over 30 years of experience in womenswear, will open on the 8th of December the second store in Romania in AFI Cotroceni in Bucharest, developed by AFI Europe. Jimmy Key has leased a space in the project through a transaction brokered by the real estate consultancy … Continued

OVER HALF A MILLION SQ. M OF INDUSTRIAL AND LOGISTICS SPACES UNDER CONSTRUCTION ACROSS ROMANIA; 60% ARE ALREADY PRE-LEASED

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Bucharest, November 2023: Industrial and logistics projects accounting for more than half a million sq. m are currently under construction and due to be delivered by the end of 2024, 60% of which being already pre-leased. The limited pipeline of speculative projects could put pressure on rental levels in the coming period due to the … Continued