Romania Retail Marketbeat Q2 2024
Bucharest, August 2024: The Cushman & Wakefield Echinox real estate consultancy company advised Infineon Technologies in a 20,000 sq. m office pre-lease transaction in Bucharest, the largest such transaction in a yet to be developed office building signed in Romania in the last five years. Moreover, the transaction sets a record in terms of total value considering both the area itself and the contractual period of 15 years.
Bogdan Bogatu, Director Office Agency and Alin Obretin, Senior Consultant Office Agency whithin Cushman & Wakefield Echinox were involved in this leasing transaction.
The building will be developed by One United Properties in the Pipera area of Bucharest and will accomodate a research and development center, a major investment which reconfirms the attractiveness of the Romanian office market, a market which registered a record level of demand in 2023, when more than 500,000 sq. m were contracted nationwide.
Bogdan Bogatu, Director Office Agency Cushman & Wakefield Echinox: ”This landmark transaction certifies that Romania is a business destination for activities with high added value, leaving aside the record it set in terms of both the leased area and the contractual value. We are pleased to have successfully concluded this transaction and we believe it is crucial to emphasize that the demand for office spaces is still very strong and developers who adopt the highest building standards in terms of quality, sustainability and technology will always be the most successful when it comes to attracting and retaining tenants”.
Infineon Technologies is a global leader in semiconductor solutions for power and IoT systems, with over 58,600 employees worldwide.
The company entered Romania in 2005 with the opening of an R&D center in Bucharest and it also has a presence in Iasi, with more than 500 employees in the country.
The Cushman & Wakefield Echinox office agency was the market leader in Bucharest, closing transactions totaling 104,000 sq. m in 2023, having a 26% share in the volume brokered by real estate agents. Moreover, the office team oversaw leasing transactions of more than 225,000 sq. m in the past 3 years in Bucharest and in the regional cities. For more information, visit www.cwechinox.com
