SkyTower celebrates ten years of activity, reaches almost 100 percent occupancy rate

SkyTower, the tallest office building in Romania, owned and managed by Raiffeisen Property Holding International (RPHI), reaches almost 100 percent occupancy rate and achieves ten years of successful activity on the local market.  

Inaugurated in 2012, SkyTower has become the landmark of the local office market and one of the main growth drivers of the northern business centre in Bucharest.

“SkyTower was a bold idea, implemented in a record time. Its innovative, modern, and safe construction attributes have put SkyTower on top of the business community’s preference for top office spaces and headquarters. Our way forward is committed to be most responsive to the office market’s dynamics and tenants’ changing needs,” said Karl-Maria Pfeffer, CEO, RPHI.

In terms of office market trends, the RPHI official sees premium buildings fuelling market demand in the next period, with companies eyeing high technical standards, quality, and comfort. While the new market context will dictate higher rents, local offices will continue their transformation into social hubs, with companies shifting the focus from prices to quality.

“What would have happened eventually anyway, happened faster due to the pandemic context. The transformation of offices and workspaces in relaxing, social centres is a here-to-stay, long-term market trend. Also, sustainable, safety certified Class A office buildings will be the focus in the upcoming decade. This will be a strict, very important decision criteria for choosing an office building: SkyTower has all these relevant certifications,” added Pfeffer.

The SkyTower building has over 2,000 residents in a total leasable area of 40,450 square metres, with an average distribution of 1,157.70 leasable square metres per floor. Tenants cover various industries from IT, Energy, Banking, Pharma and Insurance to Beauty and Interior Design.

RPHI is committed to continuing its investment plans in Romania, with focus on current office building portfolio development (SkyTower and FCC Office Building).