30.01.2024
What are the main challenges & opportunities for the office market in 2024?
“In 2024, the office market has its share of challenges and opportunities. It’s still recovering from the pandemic, working to regain pre-pandemic stability. Despite more office space in Bucharest compared to the past five years, consistent demand remains an issue for property owners and landlords.
On a positive note, there’s a noticeable surge in demand for modern, well-located class A offices. This has led to increased competition, offering opportunities for businesses and investors. Additionally, offices designed for future working and living trends, like the YUNITY Park business campus, are gaining popularity. These spaces come well-equipped and offer various amenities, making them attractive options for companies aiming to stay competitive in the changing office market.”
What are the company’s business targets for 2024?
“In 2024, Genesis Property’s main focus is on creating workspaces that cater to companies looking to attract and retain top talent and Gen Z professionals seeking rapid personal and professional growth. Our primary goal for the year is to successfully complete the third phase of YUNITY Park, an innovative business campus that has received a substantial 30-million-euro investment.
The recently finished second phase brought significant additions to the campus, including a 1,000-square-meter urban forest absorbing over 5 tons of CO₂ annually, an open-air amphitheater for 1,500 people, 2,000 meters of pedestrian pathways, cascading water mirrors, creative meeting spaces, and a biophilic design that connects people with nature.”
What were the main business results for 2023 – in terms of office leased?
“In 2023, we successfully extended contracts for 25,000 square meters of leased office space. Renowned companies like Garanti BBVA and Siemens renewed their commitments, reinforcing our strong and longstanding partnerships in our fully occupied business parks, YUNITY Park and West Gate Business District. Our commitment to delivering top-quality spaces and facilities remains unwavering, as we continuously develop and modernize our workspaces to meet the latest energy efficiency standards, all while elevating our team’s capabilities.”
