Posts - Cushman & Wakefield Echinox

MORE THAN 500,000 SQ. M OF LOGISTICS AND INDUSTRIAL SPACES WERE TRANSACTED IN H1 2023; OVER ONE THIRD OF THIS VOLUME CONSISTS OF PRE-LEASE AGREEMENTS IN PROJECTS WITH DELIVERY IN 2024

Bucharest, August 2023: Companies leased nearly 550,000 sq. m of logistics and industrial spaces in the first half of the year, with over one third of this volume being related to pre-lease agreements, mainly in projects set to be delivered in 2024. There has been a slowdown of the development pace, [...] Read more

A NEW RETAILER ENTERS THE ROMANIAN MARKET: JIMMY KEY OPENS THE FIRST STORE IN ROMANIA, IN PARKLAKE SHOPPING CENTER IN BUCHAREST

Bucharest, August 2023: The Romanian retail market continues to attract new brands, thus the Jimmy Key company from Turkey, with over 30 years of experience in womenswear, will open the first store in Romania within the ParkLake Shopping Center in Bucharest, developed by Sonae Sierra. Jimmy Key has [...] Read more

CUSHMAN & WAKEFIELD ECHINOX: GIURGIU, CĂLĂRAȘI, DEJ AND VASLUI, NEWLY ADDED CITIES ON THE MODERN RETAIL MAP THIS YEAR

Bucharest, July 2023: Four modern retail projects were delivered in the first half of the year, with a total area of 30,000 sq. m GLA. Giurgiu, Călărași, Dej and Vaslui are the cities which benefited from these new investments, while the new supply will be significantly more substantial in H2, wh [...] Read more

THE LEVEL OF COSTS AND THE ACCESS TO TALENTS ARE THE TOP DRIVERS FOR COMPANIES WHEN LEASING OFFICE SPACES

Bucharest, July 2023: Occupiers consistently identify the level of costs and the access to talents as the top drivers of corporate real estate (CRE) strategies, with particular importance also given to ESG standards, according to the What-Occupiers-Want-2023 study conducted by the Cushman & Wake [...] Read more

CUSHMAN & WAKEFIELD ECHINOX DIVERSIFIES ITS RANGE OF SERVICES OFFERED TO OFFICE BUILDING LANDLORDS THROUGH THE ASSET SERVICES DEPARTMENT

Bucharest, July 2023: The Cushman & Wakefield Echinox real estate consultancy company diversifies its range of services offered to office building landlords through the Asset Services department and launches a new business line which aims to create and implement programs and events, as well as t [...] Read more

ROMANIANS HAVE RETURNED TO CINEMAS, WITH THE NUMBER OF VIEWERS AND OPERATORS' REVENUES GETTING CLOSER TO THE LEVELS FROM 2019

Bucharest, June 2023: The Romanian cinematographic market, among the most affected industries by pandemic restrictions, is approaching pre-2019 levels, thus in 2022 the number of viewers reached 11.2 million, a 40% increase compared to 2021, but by 15% below the 2019 level, according to the data off [...] Read more

THE TOTAL TURNOVER ACHIEVED BY THE LARGE RETAILERS INCREASED BY 16.3% IN 2022 COMPARED WITH 2021, MORE THAN THE AVERAGE ANNUAL INFLATION RATE; COSMETICS, CLOTHING AND FOOD & BEVERAGE OPERATORS RECORDED THE HIGHEST Y-O-Y GROWTH RATES

Bucharest, June 2023: The large retail chains recorded a total turnover which was 16.3% higher than in 2021, a growth rate that exceeds the average annual inflation rate of 13.8% registered in 2022, according to the Romania Retail Snapshot 2023 study performed by the Cushman & Wakefield Echinox [...] Read more

CENTRAL AND EASTERN EUROPE BENEFITS FROM THE RELOCATION OF PRODUCTION ACTIVITIES IN ASIA, CREATING OPPORTUNITIES FOR THE LOGISTICS AND INDUSTRIAL MARKET IN ROMANIA

Bucharest, June 2023: Central and Eastern Europe (CEE), including Romania, are actively benefiting from the relocation of production facilities from far-away locations, such as Asia, closer to markets of consumption particularly because they offer a significant cost differential to Western European [...] Read more

FORBES ROMANIA - THE EMBASSY OF THE KINGDOM OF SAUDI ARABIA (KSA) RELOCATES ITS OFFICIAL HEADQUARTERS IN A LANDMARK LOCATION ON DOROBANTI BLVD.

Forbes Romania: Bucharest, January 2023: The Embassy of the Saudi Arabia in Bucharest relocates its Official Headquarters in an iconic building in Dorobanti area, one of the exclusive locations in the city, benefitting from an easy accessibility and a great exposure, very important features for a Di [...] Read more

THE EXPANSION OF LOGISTICS COMPANIES SUSTAINED THE DEMAND FOR WAREHOUSE SPACES IN Q1

Bucharest, May 2023: The expansion of logistics companies sustained the demand for warehouse spaces in Romania, a demand which totaled more than 330,000 sq. m in Q1 2023, a 10% increase compared with the same period of last year, according to the Cushman & Wakefield Echinox real estate consultan [...] Read more

STRONG RECOVERY OF THE BUCHAREST HOTEL MARKET; THE OCCUPANCY RATE, ONE OF THE HIGHEST IN THE CEE REGION, INCREASED BY 33% IN Q1

Bucharest, May 2023: The occupancy of Bucharest hotels increased by 33% in the first quarter compared with the same period of the last year, and remains about 5% below the 2019 level. When compared to other cities across the CEE-6 region, Bucharest recorded the second-highest occupancy rate, just be [...] Read more

OFFICE INVESTOR GLOBALWORTH AND EMAG SIGN LARGEST NEW RENTAL CONTRACT IN ROMANIA THIS YEAR

Globalworth, the leading office investor in Central and Eastern Europe (CEE), said on Tuesday that it signed an agreement with e-commerce leader eMAG to set up its headquarters in the Globalworth Square building in Bucharest. The deal targets a space of 10,000 sqm GLA and marks the largest new lease [...] Read more

WITH ALMOST 300,000 SQ. M OF OFFICE PROJECTS DELIVERED IN THE PAST 3 YEARS, THE CENTER - WEST SUBMARKET HAS BECOME THE MAIN OFFICE HUB IN BUCHAREST, OVERTAKING FLOREASCA - BARBU VĂCĂRESCU

Bucharest, May 2023: The Center - West area (Politehnica, Orhideea, Cotroceni) has become the largest office hub in Bucharest, overtaking the Floreasca – Barbu Vacarescu submarket in Q1 2023. This situation is expected to remain constant on a medium term at least, given the plans announced by deve [...] Read more

THE ROMANIAN INVESTORS HAVE BEEN THE MOST ACTIVE ON THE REAL ESTATE TRANSACTION MARKET DURING THE PAST 5 YEARS, WITH ACQUISITIONS EXCEEDING €1.1 BILLION

Bucharest, May 2023: The Romanian investors have made real estate acquisitions worth €1.1 billion in the last 5 years, having a share of 28% in the investment volume recorded during this interval. Therefore, they have been the most active buyers of income-producing real estate assets in Romania, a [...] Read more

LIMITED ADJUSTMENTS OF THE CAPITALIZATION RATES OF ROMANIAN COMMERCIAL PROPERTIES, IN THE CONTEXT OF RISING INTEREST RATES AND INFLATION

Bucharest, April 2023: High inflation and rising interest rates have increased the banks’ caution in financing the real estate sector, but the commercial property market in Romania remains stable, with limited adjustments of the capitalization rates. In a context where the upward movement of yield [...] Read more

THE DEVELOPERS OF BELVEDERE RESIDENCE IN THE NORTHERN PART OF BUCHAREST SOLD THE COMMERCIAL GALLERY WITHIN THE COMPLEX TO A PRIVATE INVESTOR, IN THE LARGEST TRANSACTION OF HIGH STREET RETAIL SPACES

Bucharest, April 2023: The developers of Belvedere Residence in northern part of Bucharest, one of the most dynamic premium residential areas, sold the commercial gallery on the ground floor of the residential buildings within the complex to a private investor, in the largest transaction of high str [...] Read more

OFFICE FIT-OUT COSTS INCREASED BY UP TO 30% IN 2022, BUT THEY STILL REMAIN THE LOWEST IN THE REGION

Bucharest, March 2023: The average office fit-out costs increased by around 20-30% in 2022, due to rising prices, supply chain disruptions, higher commodities and materials’ costs, but also as a result of the increased labor costs. Therefore, companies incurred average expenses of €820 per sq. m [...] Read more

SOMPRODUCT OPENS A NEW SHOWROOM IN THE ISHO PROJECT, DEVELOPED BY MULBERRY DEVELOPMENT IN TIMISOARA

Bucharest, March 2023: SomProduct, a Romanian brand with an experience of 15 years in the Home & Deco industry, opens a showroom in the ISHO project Timisoara, developed by Mulberry Development. SomProduct leased space of 1,100 square meters in the Isho project, the transaction being brokered by [...] Read more

THE OWNERS OF THE BALVANYOS RESORT ACQUIRED THE K+K ELISABETA HOTEL LOCATED IN THE BUCHAREST CITY CENTER

Bucharest, March 2023: Lorand and Zsuzsanna Szarvadi, the owners of the Balvanyos Resort & Spa in Covasna, acquired the K+K Elisabeta hotel located in the Bucharest city center, and they will relaunch it under the newly established Peakture hotel brand, created by Brandient. Opened in 2006 by th [...] Read more

THE INDUSTRIAL AND LOGISTICS STOCK IS NEARING TOWARDS THE 7 MILLION SQ. M LANDMARK; BUCHAREST - ILFOV AND THE WEST, SOUTH - MUNTENIA, NORTH - WEST AND CENTER REGIONS ACCOUNT FOR MORE THAN 90% OF THE TOTAL STOCK

Bucharest, March 2023: The industrial and logistics market registered a new record year both in terms of supply and demand, with development being concentrated in the Bucharest - Ilfov and West regions. However, other areas have also benefited from consistent investments in such projects in the last [...] Read more

THE ASSET PORTFOLIO UNDER MANAGEMENT HAS TRIPLED DURING THE LAST 5 YEARS; GROWTH POTENTIAL REMAINS HIGH AMID THE OVERALL REAL ESTATE MARKET DEVELOPMENT

Bucharest, February 2023: The property portfolio under the management of the Asset Services department of the Cushman & Wakefield Echinox real estate consultancy company has tripled during the last 5 years, reaching more than 450,000 sq. m of office, logistics and retail spaces, both in Buchares [...] Read more

ADP ROMANIA PROLONGES ITS LEASE CONTRACT FOR ANOTHER 5 YEARS IN GARA HERĂSTRĂU, A BUILDING PART OF THE GLOBALWORTH PORTFOLIO

ADP Romania prolonges its lease contract for another 5 years in Gara Herăstrău, a building part of the Globalworth portfolio. The total surface operated by the company is 8,300 square meters. A comprehensive global provider of cloud-based human capital management (HCM) solutions, ADP unites HR, [...] Read more

OFFICE PROJECTS OF MORE THAN 275,000 SQ. M ARE PLANNED TO BE DEVELOPED OUTSIDE BUCHAREST IN THE NEXT 5 YEARS

Bucharest, February 2023: Developers announced the construction of more than 275,000 sq. m of new office projects in the major regional cities – Cluj-Napoca, Timisoara, Iasi and Brasov, and therefore the modern office stock should reach approximately 1.3 million sq. m in the next 5 years. An incre [...] Read more

AROUND 500,000 SQ. M OF OFFICE SPACES ARE VACANT IN BUCHAREST, 50% OF WHICH BEING LOCATED IN BUILDINGS OVER 15 YEARS OLD

Bucharest, February 2023: Around 500,000 sq. m of office spaces are unoccupied in Bucharest, reflecting a vacancy rate of 15.2%, the highest availability being reported in the Pipera North, Center-West and Floreasca – Barbu Vacarescu submarkets. There is still a significant discrepancy between A a [...] Read more

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