CBRE advised Bank of China in setting up a branch in City Gate Bucharest

CBRE advised Bank of China, one of the largest banks in the world, in the process of setting up operations in Romania by leasing approximately 800 square meters of office space in City Gate.

The agreement for the office space was signed in September 2019 after a leasing process led by Sandra Apachitei, Advisor within Advisory & Transaction Services, Office Occupier, CBRE Romania.

Bank of China opened a branch in Romania on December 16, choosing for its headquarter City Gate. The 47,600 sqm office tower is owned by GTC in the north of Bucharest.

The opening of the new unit marks the 70th anniversary of diplomatic relations between Romania and China, setting up a branch in Romania being the natural result of these positive evolutions. The branch’s operations in Bucharest are led by Guo Lixin.

“The entrance of a new company on the Romanian market, that leases from the beginning an important office surface, represents a very good sign both for the real estate market and for the business environment. In Bucharest, on the office space market, in the third quarter, companies leased over 84,000 sqm, with an increase of 15% compared to the same period last year”, stated Tudor Ionescu, Head of Advisory & Transaction Services, Office, CBRE Romania.