Antoniu Panait, Vastint Romania: “We are optimistically moving toward a better 2021”

“Even if the request for office space of leases has decreased in the last year, considering the already recognized quality of the business we own and represent, the interest of the companies for our offices spaces has continued to be high enough to lease and extend some contracts even during the last 6 months, reaching up to 10.000 sqm, in both Business Garden Bucharest and Timpuri Noi Square,” Antoniu Panait, Managing Director Vastint Romania told The Diplomat-Bucharest.

“It is very important to mention that we continued our projects, we didn’t stop the communication or any of the processes that were already started, like the planning of Phase 2 of Timpuri Noi Square, and we are optimistically moving toward a better 2021.”

They say you should never waste a good crisis. What opportunities did you identify during 2020 in terms of business development in the current context?

2008 has shown us that this quote is quite a good one, even if you talk about communication or business, you should be able to seek and see an opportunity in every crisis. Even if the request for office space of leases has decreased in the last year, considering the already recognized quality of the business we own and represent, the interest of the companies for our offices spaces has continued to be high enough to lease and extend some contracts even during the last 6 months, reaching up to 10.000 sqm, in both Business Garden Bucharest and Timpuri Noi Square.

It is very important to mention that we continued our projects, we didn’t stop the communication or any of the processes that were already started, like the planning of Phase 2 of Timpuri Noi Square, and we are optimistically moving toward a better 2021.

How did you manage the relationship with your tenants during this year, what is their feedback and projections for 2021?

We managed keeping a close relationship with them, collaborating whenever our intervention was necessary, whether a nebulization was requested or a discussion regarding a space extension or any other subject. Taking into consideration that the majority of our tenants have managed to optimize and adapt in 2020, mixing work from home and working in the office, we hope that 2021 will bring a higher presence rate into the office.

What investment and development opportunities do you identify in the tenant mix for 2021?

There are some changes in the manner that certain businesses have managed 2020, but for sure, the majority of our tenants will come back into the office, and some of them might even thing about extending their office space, to ensure the “physical distancing” that was highly recommended. I think that it is relevant have in mind  one the most important parts of our project, the retail tenants, that have faced so many challenges during the emergency state. We will be for sure focusing on the existing tenants and identifying new potential ones to ensure a balance of services, for the project and residents.

Which are the available options in the fight for customers in your market at this time?

Since forever, the most important asset in the “fight” for customers is the quality of the product that you represent, and Vastint Romania has shown that already though the LEED Platinum certifications obtained, Business Garden Bucharest has one of the highest scores in Europe and worldwide, and this says more to the potential clients than any other thing. Also, being the first to set new technical and design standards on the real estate market has made our work easier, also, during this period our 100% fresh air supply and windows that open have been our best promoter, ensuring the potential tenants that they can offer a safe space to their employees. As well, location is of similar importance, as accessibility and reduced commuting time were essential these days.

What is the proper way to adapt fast and manoeuvre through crisis periods, such as this and what is the conclusion of 2020?

  As I already mentioned, the quality of our projects has been extremely important during this period, combined with our desire to continue business as usual, as much as possible, so, we managed to adapt extremely fast even to more technologized meetings and presentations.

Regarding our internal adapting process, having a small team has proved to be a plus in terms of efficiency, nevertheless, we had our share of challenging moments, but we managed to keep our optimism and engagement.