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AFI Europe Romania: Romanian office market was exceptionally successful in 2017

The Romanian office market in 2017 was exceptionally successful, fuelled mainly by increased expansions and new entries in the IT&C, BPO sectors, as Tal Roma, Business Development Manager AFI Europe Romania told The Diplomat-Bucharest.

2018-04-02 13:02:59

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"In 2017, the companies were facing a more competitive labour market, thus expediting their relocations to new Class A office developments located in or close to the city centre and close to the residential neighbourhoods," said Tal Roma. "Companies understood that employees (from the new generations) do not wish to waste time in traffic, to waste their life going to work and back home."
In his opinion, Romania has made remarkable progress in terms of green developments, whether referring to offices, residential apartments or retail units.

"The country owns the necessary infrastructure and all the materials, technologies and services to make "being green" a standard for any new building," said Roma. "We are an eager supporter of this concept, AFI Park 1 being the first building in Romania to receive the LEED Gold certification and currently AFI Tech Park 1 has obtained the shell & core LEED Platinum certification (LEED Platinum being the highest achievable green certification). We consider that green construction means smart business and generates sustained profits for our tenants and at the same time is a long-term investment in the society and environment. All our office projects are designed to provide an efficient office space, combined with modern design that allows a better and simultaneously more pleasant working space. Our buildings are environmentally friendly, certified and we make sure that we optimize the costs of our tenants."

Roma explained that the economic context will continue to be a favourable one for the overall real estate industry and Romania will remain a very attractive market for foreign investors.

"In terms of office projects, Bucharest still has unexploited areas, with a lot of potential for new developments," said Roma. "We are setting a new business landmark in Bucharest with our new business campus AFI Tech Park to be delivered in Q2 2018, where we can accommodate 3,000 employees in the first building. We expect new companies to enter the market and the existing ones to expand their businesses. Therefore, the companies will explore relocating back inside the City as opposed to the peripheral locations which have become unattractive.

"Companies will continue to expand especially into Class A buildings, in search for modern spaces that integrate facilities and benefits for the increasingly sophisticated preferences of employees: restaurants, coffee shops, fitness and sports entertainment and relaxation areas. As proof of this, the development of mixed-use projects that answer both business and personal lifestyle needs is gaining more and more ground in Romania. We are promoters of this trend, as we are doing it in AFI Tech Park (56,000 sqm GLA of office space and 2,000 sqm of retail area) and AFI Park Brasov (25,000 sqm GLA office project integrated into AFI Brasov mall). Coming up with the best solutions and personalized office projects is both a challenge and an opportunity."



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