CPI Romania signed lease contracts for 41,500 sqm in the office segment in 2024

CPI Romania, part of CPI Property Group, signed this year lease agreements totaling 41,500 sqm, adding multinational companies to its local office portfolio and maintaining its average occupancy rate of retail projects at 98 percent as a result of investments in the remodeling of its shopping centers.

The priority of the company, which is in a process of consolidation on the local market after the takeover of Immofinanz and S-IMMO, is to invest in the development and modernization of its properties.

Since the beginning of this year, CPI Romania has signed lease contracts for 41,500 sqm, both new contracts and extensions of existing contracts, after closing the first half of the year with a share representing 20 percent of the total leasing activity registered at market level. CPI Romania currently owns office buildings with a total area of 340,000 sqm, representing 10 percent of the modern stock of office projects in Bucharest.

New tenants or tenants whose leases have been extended include SAP Romania and Salveo Romania (in myhive S-Park building), DB Engineering & Consulting GmbH Berlin and Samsung Electronics Romania (in myhive Metroffice building), Deichmann (in myhive Victoria Park building), Regina Maria (in Băneasa Airport Tower building), LPP and the Irish Embassy (in The Mark building).

Recently, the company has completed the transaction in which the myhive Victoriei building, located in the Immofinanz portfolio, was taken over by AFI Europe, a step that is part of the process of optimizing CPI Romania’s office portfolio.

Fulga Dinu, Country Manager CPI Romania: “CPI Property Group consolidates its operations in Romania, after the integration of the Immofinanz and S-IMMO portfolios. The very good results from the beginning of 2024 to this moment reflect the value of the portfolio, the quality of the services thet we offer to our tenants and our permanent concern to increase the relevance of the spaces for tenants and to enhance the work experience of the employees in our office buildings. In the retail area, we maintained the occupancy rate of 98 percent by investing in modernization processes and updating the tenant mix and we signed new partnerships with important brands in international retail, desired by the public. We continue to reinvent ourselves to meet the latest demands of the communities we have created around our shopping centers.”

CPI Romania is one of the largest players in the office segment, with a portfolio that includes five myhive buildings (S-Park, Victoria Park, Metroffice, IRIDE 19 and IRIDE 20), IRIDE Business Park, Băneasa Airport Tower, Pipera 1, Pipera 2, Global Business Center, The Mark, Expo Business Center, Sun Offices, Campus 6.2 and 6.3.