“The office stock available on the Romanian marketplace is lower than in the other countries in the region in terms of the number of square meters of class A offices per thousand inhabitants,” said Manea.
“We are certainly seeing an upward trend, with continued development prospects and “most importantly“ a stable market with a healthy growth rate. The Romanian marketplace is among the most highly competitive in the region, appealing to major companies by means of the specialized and affordable workforce, as well as the overall lower prices compared to other Eastern European countries.”
According to Manea, 2017 was a good year both in terms of office premises delivery and the office demand from companies that plan to expand, particularly IT and BPO/SSC companies: “This trend can also be noticed in secondary cities such as Timisoara, Iasi, and Cluj-Napoca, where we have ten office buildings currently in operation. For example, last year our company delivered 31,000 sqm of class A office premises on the local marketplace in Timisoara, comprised of two buildings erected near Iulius Mall, as part of the Openville mixed-use project. Both buildings have occupancy rates close to 100 per cent, the respective tenants operating in the IT and automotive industries. The IT industry was also the main growth catalyst for other business sectors, such as the residential real estate, automobile and services markets. This market growth resulted from the increasing number of employees and their incomes.”
Manea said they are attuned to international green building initiatives and they are committed to getting in line with international sustainability standards: “We develop “green buildings”, and all our projects are either certified or pending certification. We received the most recent certification last year, namely LEED® Gold for the United Business Centre Tower building in Cluj-Napoca. Also, all the office buildings in the Openville Timisoara project are designed in accordance with LEED standards and benefit from the implementation of sustainable operation policies. Therefore “green buildings” are the future. These developments are no longer niche ones, but a necessity, and projects combining modern architecture with “green” principles will be increasingly delivered on the market.
There is clear potential and the focus towards this segment is nothing but welcome, translating into direct benefits for developers and tenants by means of cost-effective utilities and overall comfort, and in a wider sense for the community.”
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