BUCHAREST REAL ESTATE CLUB

Shaping a New Era of Development in Southeast Europe

10 Influential Women in Romanian Real Estate
10 Influential Women in Romanian Real Estate 5120 3840 BUCHAREST REAL ESTATE CLUB

The Real Women: 10 Influential Women in Romanian Real Estate

A not long ago male – dominant sector, Real Estate has reached a phase in which prominent women professionals are leading several of the most powerful real estate businesses in the Southeast European region – not to speak about the sector in general. While some may explain it as a market maturity phase, we see it mostly as a result of genetic characteristics, typically attributed to women, being put to work – such as consistency, assertiveness, empathy or self-organization. The result is, however, an impressive number of women at the helm of some of the most influential real estate businesses in Romania.

They are deal makers, shrewd negotiators, market movers & shakers, business growers, inspirational leaders over hundreds of people and target over- achievers.

Over 5 billion EUR businesses managed by women in Romanian Real Estate. With the beginning of the year having brought new promotions in the market, we list below 10 of the most powerful profiles in the industry:

FULGA DINU

She was recently named country manager of Immofinanz for Romania and Bulgaria.
The company has a significant presence on the Romanian market, with 10 class A office projects and four shopping malls operated under VIVO! brand, in key-locations nation-wide: Cluj-Napoca, Constanta, Pitesti and Baia Mare.
Before joining Immofinanz, she occupied top management positions such as CFO of Iulius Group and Country Manager of Eurohypo (part of the Commerzbank group), the German bank which financed the real estate projects of Anchor Group in Romania.

AURELIA LUCA

Skanska’s commercial development unit in CEE announced in early February the appointment of Aurelia Luca as Managing Director for Skanska Property Romania. She also became a permanent member of Skanska CEE’s commercial development unit Management Team.
Aurelia has over 16 years’ experience in the real estate market. She started in Skanska Property Romania in 2012, where she held the position of Leasing Manager, and from 2016 to 2017 as Country Director.
In her previous roles, Aurelia was fully committed to successfully delivering, leasing and divesting the Green Court Bucharest office complex, strengthening Skanska`s position in the northern part of the city with the Equilibrium project, and leading the way as Skanska entered a new sub-market with the Campus 6 development.

LUIZA MORARU

CBRE has recently appointed Luiza Moraru as Head of CBRE’s Asset Services Division for Central and Eastern Europe. From this position, Luiza will guide and supervise almost 500 CBRE consultants performing asset management activities for office buildings and shopping centers in the CEE region.
Bucharest becomes this way a key-point in CBRE’s European network, as Luiza will lead the asset management teams located in Austria, Czech Republic, Hungary, Poland, Slovakia and Romania, aligning the good practices and the workflows at a regional level, with an aim for excellence.

Currently, in the CEE region CBRE manages a total area of 3,950, 000 sq. m. out of which 1,800,000 sq. m. are shopping centers and 1,000,000 sq. m. are office buildings, the remainder being industrial and logistics spaces. In Romania, the Asset Services department was founded at the end of 2013, under Luiza Moraru’s leadership, and grew to 400,000 sq. m. in just 4 years, the portfolio including representative buildings such as Sun Plaza Bucharest, VIVO! Cluj, VIVO! Constanta or Timpuri Noi Square Bucharest.

SILVIANA PETRE BADEA

JLL has appointed Silviana Petre Badea as managing director of its Romanian business, based in Bucharest, beginning with March 2017.
Silviana joined JLL at the start of 2015 to lead its capital markets business in Romania. During this time, she has spearheaded the expansion and evolution of the team and services offered to clients, with JLL continuing to enjoy the largest market share of capital markets transactions in the country.
JLL Romania is one of the top real estate consultancy firms in Romania, serving big institutional clients. The company was recently involved in the sale of Radisson Blu Hotel in Bucharest, assisting Elbit Imaging during one of the biggest investment transactions last year.

ANCA DAMOUR

One of the most experienced retail real estate professionals on the Romanian market, she is the Managing Director of Carrefour Property Romania, one of the most active retailers on the local market, with three type of retail formats: hypermarket, supermarket and proximity shop.

Anca’s career in Carrefour begun in 2002 when she was a Legal Director. After seven years she was promoted as Development Director for Carrefour Property and beginning with 2011 she is the head of the company, responsible for Carrefour’s expansion. At the end of 2017, Carrefour’s Romanian network counted 311 units – 33 hypermarkets, 225 supermarkets and 42 proximity shops.

MIRELA COVASA

She is the Chief Financial Officer and a member in the Board of Directors of NEPI Rockcastle, the leading retail property investment and development group in CEE.

She has joined NEPI in February 2012 and was appointed CFO in February 2015. Following the merger between NEPI and Rockcastle, Mirela was appointed CFO for the new entity beginning with May 2017. She has graduated with a finance degree from Bucharest Academy of Economic Studies and is a member of the Association of Chartered Certified Accountants (ACCA) and Chamber of Financial Auditors of Romania (CAFR).

Prior to joining NEPI, she was senior manager at PwC, where she spent eight years performing audit assignments in Romania, Slovenia and India. She has 15 years of accounting, auditing and financial experience.

ROXANA DUDAU

A very experienced real estate lawyer, Roxana Dudau is associated partner in Noerr. She specializes in real estate & construction law, urban planning law, corporate law and energy law. Her career focused on advising major foreign investors active in the field of retail and construction, banks, as well as major investors, predominantly in the automotive sector, in their greenfield investments in Romania, which she advised on structuring the planning and construction contracts for erecting their production facilities.

Roxana has large experience in real estate, town planning & construction and in regulatory issues, especially in retail transactions, advising the firm’s clients on their market entry and on their expansion in Romania. She has been part of Noerr ever since 2004.

EMA IFTIMIE

She is Commercial Director for Globalworth, the leading office investor in Central and Eastern Europe. The company founded by Greek business man Ioannis Papalekas is today the biggest office owner, with assets totaling 1.8 billion EUR.
Ema’s real estate career spans over 16 years, beginning with Victoria Holding and continuing with BOB Development and Upground. In her current role, she is part of the management team, responsible for frontline liaison with potential occupiers and letting agents.

OANA ILIESCU

She is Managing Director for Cushman & Wakefield Echinox, one of the top brokerage & consultancy real estate companies active on the Romanian market.

Her career identifies with the company started by Mihnea Serbanescu back in 1993. She begun in 2002 as a Consultant for Office Department and in 2005 she joined the Retail Department. Beginning with 2010 she was promoted as Managing Director, the company merging in 2015 with Cushman & Wakefield.

Echinox is the Cushman & Wakefield’s independently owned affiliate in Romania, comprising a team of over 50 professionals & collaborators and providing a full range of services to investors, occupiers and owners across all sectors of the real estate market, including the residential property advisory.

SINZIANA PARDHAN

P3, one of Europe’s leading logistics property investor-developers, promoted last year Sinziana Pardhan to the role of Country Head in Romania. Pardhan, who was previously Acquisitions Director for P3 in Romania, took over from Blake Horsley, who has become P3’s Group Development Director.

Sinziana oversees the company’s continuing expansion in Romania, a market that P3 believes has great potential due to strong economic growth and increasing importance in Europe’s manufacturing supply chain. With extensive experience in investments, acquisitions and disposals, she had previously spent nine years working at real estate consultancy Colliers.

P3 has a total of 370,000 sq. m in 14 warehouses in P3 Bucharest and another 100,000 sq. m of land which allow future expansion. Located just 13 km from the city center, the park is on the city ring road, which provides easy access to all six Bucharest districts, Henri Coanda International Airport (22 km away) and the A2 motorway. P3 is looking to expand in Bucharest as well as central and western parts of the country.

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PwC: Logistics ranked no. 1 for Investment in Europe
PwC: Logistics ranked no. 1 for Investment in Europe 1440 1080 BUCHAREST REAL ESTATE CLUB

PwC: Logistics ranked no.1

for Investment in Europe

General economic outlook is positive, with expectations for profits and headcounts to increase in 2018, according to Emerging Trends in Real Estate®: Europe 2018 survey by PwC & Urban Land Institute, based on 512 respondents from across 22 European countries. The key issues impacting businesses this year are the availability of suitable assets/land and construction costs.

MAIN TRENDS

INDUSTRIAL SECTOR IN THE FOCUS

Given the impact of technology upon real estate, industrial sector is ranked number one for investment and development prospects in 2018, largely on the back of the growth in online retail sales.

“Technological change is clearly playing out in the retail sector, and as retail shrinks, logistics expands, as does the last-mile delivery convenience to the consumer”, says one global capital markets adviser.

RESIDENTIAL HITS TIPPING POINT

Until recently, residential was seen by many institutional players as a niche sector, and for some, too specialist. Today, the industry appears less bothered by the obstacles to investment and increasingly swayed by the opportunities that could emerge from huge housing shortages across Europe. The Emerging Trends Europe survey reveals availability of affordable housing as one of the key social problems facing the industry in 2018 – more of a concern than environmental issues and mass migration.

REDEVELOPMENT INSTEAD OF SPECULATIVE DEVELOPMENT

Redevelopment is the most attractive way to acquire prime assets, thus translating into a low-risk strategy based on astute asset management and refurbishment rather than a hasty return to speculative development.

SMART ASSET MANAGEMENT

The greater importance attached to asset management reinforces the trend by institutional investors towards employing fewer and larger managers. Low returns and a lack of product in a late-cycle market have underlined the importance of “smart asset management”.

“We are not going to be able to generate the returns we want by buying assets and sitting on them,” says one pan-European investment manager. “We have to think about the management of the tenants, refurbishment and re-gearing.”

CO-WORKING TAKES HOLD

The rise of the flexible office sector and co-working stands out in Emerging Trends Europe. They are much more than simply property buzzwords but, as the interviews reveal, a workplace phenomenon whose influence has taken hold of the European industry in a profound way since last year’s report.

“As landlords we have to be more flexible,” says one convert to co-working. “Tenants are asking for shorter leases and break options. It requires a change in mindset and a willingness to take more risk.”
“Not everything is going to be WeWork,” says one value-add investor. “I still think there’s a huge amount of money to be made in traditional offices with larger occupiers. But the proportion of the market will grow for co-working, smaller companies, incubator space. Flexibility within buildings – the ability to sub-divide – becomes increasingly important, which comes back to obsolescence.”

Emerging Trends in Real Estate® Europe 2018 reveals an industry that is becoming more complex, yet more transparent and accessible. Whatever the outcome, it is certain that the industry will need new skill sets, new ways of collaborating outside traditional industry boundaries and new business models to survive and compete in the new real estate ecosystem. You can read more info about the survey here.

Top 10 office deals in 2017. What’s next in 2018?
Top 10 office deals in 2017. What’s next in 2018? 1600 760 BUCHAREST REAL ESTATE CLUB

Top 10: Office deals in 2017. What’s next in 2018?

In the context of a flourishing economy, the local office market sees the positive effects, with six deals exceeding 10,000 sq. m in 2017.

Compiling data released on the market, BREC has put together The Top 10 Romanian Biggest Office Deals in 2017. Totaling a surface of 122,553 sq. m, the top brings together companies from different sectors: auto, banking, consultancy, energy and IT &Telecom.

Based on a legacy of distinction in science, technical education and mathematics combined with Romanians’ robust language skills, the local tech sector is expanding rapidly, translating into a strong hub for IT & outsourcing. Wages in Romania remain far below the EU average, making it an enticing option for outsourcing. According to industry insiders, the tech sector – which employs about 150,000 people – is expected to double its share of GDP to 12% by 2025, aided by one of the fastest broadband internet speeds in the world (behind only Singapore, Hong Kong, South Korea and Iceland).

    • Out of the total of 122,553 sq. m, 65,153 sq. m in demand comes from the IT & Telecom sector. 
    • The top is dominated by the Capital City: out of the 10 deals, just one was outside of Bucharest, in Timisoara.
    • Barbu Vacarescu – Pipera remains the area with the biggest density of AAA tenants, attracting 3 out of the 10 deals.
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Renault has renewed its surface in North Gate, in the biggest office deal on the market. North Gate was acquired by One United in 2017, the company forming a new office division where they have co-opted local investor, Ionut Dumitrescu.

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ING has preleased 20,000 sq. m in Blue Rose Office Park, the new project Portalnd Turst is developing in what seems to be a new office hub of Bucharest – Expozitiei. ING and Renault share the first place on the podium of the biggest deals closed in 2017.

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IBM has leased 13,600 sq. m in the first phase of The Bridge, the business park developed by Forte Partners near Basarab overpass. IBM has already moved into the new building at the end of 2017.

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Amazon was one of the new players entering the office market in 2017. Amazon Web Service, a division of the international giant, has leased 13,500 sq. m, in a new project Globalworth has recently finalized in Pipera. The company is now under a heavy recruiting process, following to hire 1,100 IT specialists.

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Oracle renewed its deal in Sky Tower, the tallest building in Romania, with 37 floors and a height of 137 meters. The office tower belonging to Raiffeisen Property International is 98% leased.

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The single transaction out of Bucharest in our top is in Timisoara. Nokia has pre-leased here 10,230 sq. m in Bega Business Park, the project developed by a family-owned company – Marius & Emil Cristescu. Nokia has become the multinational with the biggest HQ outside of Bucharest.

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Rompetrol renewed in 2017 its office contract from City Gate, the towers dominating Piata Presei Libere Sq, near Romexpo. The petroleum industry giant and one of the key players in the fuel sector in Southeast Europe has extended the contract with GTC for another 5 years.

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Bitdefender pre-leased in 2017 9,250 sq. m for its new HQ in Bucharest. The Romanian IT company will move this year 900 employees in Ordhideea Towers, the project developed by CA Immo near Basarab overpass. The two H-shaped towers, are linked together by a bridge hidden behind a glass façade.

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One of the oldest contracts in the office market is still on! Orange renewed its contract with CA IMMO for its HQ in Europe House, one of the landmark buildings in Bucharest’s CBD. Orange has been occupying the building for more than 10 years.

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According to info released on the market, PwC has signed a pre-lease of 8,000 sq. m in Ana Tower, the property developed by local business man George Copos. The info hasn’t been confirmed yet.

WHAT’S NEXT?

Uncertainty over Brexit is having an impact, with companies looking at alternatives within the EU in case the UK pursues an exit that restricts trade. London Stock Exchange is looking for 6,500 sq.m in Bucharest for 500 analysts.

Technology is expected to remain a strong sector in demand for offices in 2018: Microsoft is looking for 15,000 sq.m, Siemens is also on the market for a surface of around 5,000 sq.m, while Ericsson is rumored to make a new move in 2018 for a new office space.

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JLL: “Workplace transformation is a game changer”
JLL: “Workplace transformation is a game changer” 1920 864 BUCHAREST REAL ESTATE CLUB

JLL: “Workplace transformation is a game changer”

Unprecedented disruption has created a new world of work driven by technology and an increasingly liquid workforce, JLL report “The future of work” states. The real estate consultancy company thinks that the future will belong to those who can embrace uncertainty, turn disruption into opportunity, and act to transform.

The ideal workspace, as JLL visions it, is articulated around five dimensions driving fundamental changes for corporate organizations:

  • Digital Drive Harness digitization and rich data to enhance people and enterprise performance.
  • Continuous Innovation Combine new thinking, solutions and processes to drive value creation and accelerate transformation.
  • Operational Excellence Optimize enterprise resources and service delivery to increase productivity, mitigate risks and ensure high performance.
  • Financial Performance Manage spending to enable growth and enhance ROI.
  • Human Experience Enhance user experience through engagement, empowerment and fulfillment.

“Today, as a result of unprecedented disruption, real estate is a strategic lever for transformation.
It enables organizations to leverage uncertainty, to prioritize investments, drive return on investment (ROI) and achieve broader business agendas”, Marie Puybaraud, Global Head of Research, JLL Corporate Solutions

5 IMPERATIVE DRIVING WORKPLACE TRANSFORMATION

1. Adopting a flexible working model to meet the needs of an evolving workforce through activity-based working.
2. Understanding the impact of a liquid workforce on the business model.
3. Redesigning workplaces to enhance human experience through engagement, empowerment and fulfillment.
4. Creating new metrics that matter to demonstrate increased performance through people and place.
5. Designing the working environment with a strong appeal towards environmental and social achievements.

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More about the subject here.

Real Estate used for employer branding by Lidl
Real Estate used for employer branding by Lidl 1026 720 BUCHAREST REAL ESTATE CLUB

Lidl: launches its brand new 12.500 sqm HQ in Bucharest

In a move emphasizing its leadership on the Romanian retail market, Lidl has finalized its own office building in Aviatiei, North Bucharest, the area with the biggest density of AAA tenants in Bucharest. The innovative & green project that implements the most advanced construction technologies was built by Skanska.

The investment in its new HQ comes in line with the company’s policy for a sustainable activity as well as its commitment as a reputable employer. The 12,500 sq. m. compound has two interconnected buildings: one is destined for the facilitates dedicated to the employees (such as fitness area, restaurant, coffee shop, lounge & relaxation areas) and the other one comprises the office spaces.

On a very competitive HR market, where multinationals compete fiercely for skilled workforce, Lidl shows high focus on its reputation as an employer. The company has recently announced that will increase the salaries starting 1st of March, the minimum gross wage of a seller working at a Lidl shop following to reach 3,000 RON (approx. 650 EUR). In this context, the headquarters becomes a strong attraction and motivation instrument for the HR department.

The new building benefits of 233 parking units, 7 charging station for electric cars and 40 bicycle parking places. The project used 100% sustainable, certified & recycled materials, integrating one of the most technologically advanced construction solutions. The office building is to be certified by BREEAM.

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H.E. Basil Constantinescu – Romanian Ambassador to the People`s Republic of China
H.E. Basil Constantinescu – Romanian Ambassador to the People`s Republic of China 2000 1333 BUCHAREST REAL ESTATE CLUB

BREC Talks to H.E. Basil Constantinescu

Romanian Ambassador to the People`s Republic of China

“Chinese companies will become more and more interested in the investment opportunities in Romania, in the context of dynamic promotion of the New Silk Road Initiative”

One of the proposed routes in the initiative is China – Port Batumi-Port Constanta. If the railway road will include Romania, the new created infrastructure will have a massive impact on the local logistics sector, with the potential of attracting new, important players on the market.

Private Real Estate in ECE region targeted by China`s New Silk Road Initiative

On the occasion of the 16+1 Summit (China-Central and Estearn European Countries) in Riga, November 2016, the China – Central and Eastearn European investment Fund was launched – a private equity fund meant to support investment projects implemented through the 16+1 Cooperation Format.

Industrial and Commercial Bank of China (ICBC) Financial Group was designated by the Chinese Government to launch consultations with potential partners, for the establishment and operationalisation of the fund. Thus, under the coordination of Sino-Central Eastern Europe Financial Holding Corporation (CEEFC), member of ICBC, consultations, strategic lines and ways of operation of the Fund have been established. CEFC, together wth ECE partners and other Anchor Investors will contribute to the initial capital with EUR 1 bln., as Limited Partners. Other premium institutional investors are expected to contribute with EUR 9 bln., following a fund raising campaign.

Chinese funds of EUR 10 Bln. for projects in Central & East Europe, through the Initiative

The Fund will mainly finance projects in the ECE region, as well as projects developed under the new Silk Roads Initiative in other regions. Under market conditions, without irredeemable component, public projects will be financed (such as transportation infrastructure, energy, utilities and other public projects). A special attention will be provided to private sector projects able to generate important growth in the following period – companies activating in healthcare sector, agriculture, IT&C, High-Tech, Real Estate, states the Romanian Ambassador to the People`s Republic of China.

The Initiative is considered the biggest foreign spending program by any one country since the U.S.’ Marshall Plan to rebuild post-World War II Europe. BUCHAREST REAL ESTATE CLUB`s key question in the context: How will Romania and ECE private Real Estate sector will benefit from?

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Study-case: Il Centro, Milano
Study-case: Il Centro, Milano 1554 874 BUCHAREST REAL ESTATE CLUB

The new shopping center format: turns conventional retail

into an experience, social center and brand showcase

With a great vision and intuition, the Italian hypermarket giant and mall developer Finiper bought in the 90’s the former site in Milano of Alfa Romeo, one of the Italy’s most admired motorcar brands.

The huge location potential (on the north-west corner of Milan, between Malpensa airport, Lake Maggiore, Lake Como and Switzerland) has set the scene for what has become one of the most avant-garde pieces of architecture in Europe and a successful retail business with over 15 million visitors annually.

STUDYCASE – IL CENTRO, MILANO

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Il Centro features a Fashion Court, inspired by London’s Covent Garden, which hosts brands such as Primark (the first in Italy, 7,000 sq. m on two levels), H&M, Zara, Pull & Bear, Berska, Massimo Dutti, Superdry, MAC, Swarovski or Bottega del Regalo.

Iper la Grande has been transformed into an innovative Market Place where fresh products of the hypermarket are brought into the mall in permanent kiosks where guests can experience live cooking shows, consume in situ or carry away freshly made meals. The Market Place climbs with a ramp from the ground floor to a large restaurants’ court on the first floor, resembling the ramp of the Guggenheim Museum in New York, except in this case food and taste are the arts on display.

Tall trees enrich the retail streets both outside and inside, creating a real garden with kiosks and restaurants, bike trails, children’s games and other activities related to sport and health. The green and multi-strata polycarbonate roof structure is made from sustainable materials and supported by 40 meters long timber beams, which represent one of the largest wooden structures ever built in Europe for a shopping mall. The entire construction is designed according to firm criteria of energy saving and sustainability, to achieve the prestigious LEED Gold level certification.

Where today there is the biggest shopping area of Italy, once there was a factory of legendary cars. The old circuit of Alfa Romeo has been converted in a brand-new testing and safe driving track managed by ACI VALLELUNGA: 1,500 sq. m of track where visitors can set free their speed desire, learn the importance of safety with safe driving courses and attend events and exhibitions about motors.

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Colliers: “Online retailers are looking at how physical stores can generate more trade”
Colliers: “Online retailers are looking at how physical stores can generate more trade” 730 460 BUCHAREST REAL ESTATE CLUB

Colliers: Online retailers are looking

at how physical stores can generate more trade

The growth rate of e-commerce sales is forecast to fall over the next four years, according to a study by Colliers International, and the online ‘pure-play brands’ are increasingly looking at how they can support future sales. For many e-retailers, part of the remedy is to open ‘showrooms’ in physical shopping environments which both generate online sales and raise awareness of their brand.

In 2016, online retail sales grew by 11.5% year-on-year, but this level of growth is projected to steadily decline through to 2021 when it is forecast to be around 7%.

Research by British Land highlighted that pure-play retailers which opened a physical store saw online sales increase by 52% within the catchment area.

SHOWCASE – HOTEL CHOCOLAT

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the company starts by selling chocolates online, becoming one of the UK’s earliest ever “e-tailers”

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the company opens the first shop in UK

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the company opens a café in London’s Borough market

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Boucan, a luxury hotel, restaurant and spa, is opened on the company’s cocoa plantation in Saint Lucia

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Hotel Chocolat is approaching 100 stores in high streets and shopping centers across UK and enters Hong Kong market

THE ROMANIAN STORY – EXAMPLES OF E-COMMERCE PLAYERS COMBINING ONLINE WITH PHYSICAL STORES

The biggest online retailer in Romania, has 13 showrooms all over the country – 2 in Bucharest and one in Timisoara, Sibiu, Iasi, Galati, Constanta, Ploiesti, Pitesti, Brasov Craiova, Oradea and Cluj.

Started in 2010 as an online bookstore and grew into an online family mall. The retailer has developed a strong pick-up points’ network (where it also showcases some products) with 15 locations in Bucharest and another 19 in the country.

The fashion retailer entered the Romanian market in 2015 and to differentiate in a competitive industry, decided to open locations where clients can try the items they have shopped for online. Zoot has now 8 such spaces: 6 in Bucharest and one in Cluj-Napoca and Timisoara.

The online fashion shop which promotes Romanian designers was opened by local entrepreneur, Mirela Bucovicean, in 2010. Five years after, Molecule F opened a concept store in Promenada, the shopping mall from Bucharest belonging to NEPI.

Check out the full Colliers study .

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Top 10 Mega Deals in Real Estate Tech
Top 10 Mega Deals in Real Estate Tech 852 586 BUCHAREST REAL ESTATE CLUB

Real Estate + Tech = LOVE

10 Mega Deals in Real Estate Tech

As technology is advancing based on continuous innovation, the real estate industry is reshaping. According to a study by RE:Tech, a real estate tech research and marketing agency, a significant number of mega-deals in real estate tech drove the funding boom across the sector in 2017 .

WeWork

The business co-funded by Adam Neumann and Miguel McKelvey in 2010 as a trendy co-work space, announced in Q3 2017 that it had raised $4.4 billion in funding from SoftBank Group and SoftBank Vision Fund. SoftBank invested $3 billion in WeWork itself and added another $1.4 billion into three new WeWork subsidiaries — WeWork China, WeWork Japan and WeWork Pacific. According to Cushman & Wakefield, WeWork is today the central London’s biggest office occupier.

In the picture: WeWork Shanghai

Compass

The New York-based startup with the goal of disrupting the real-estate market, has raised $450 million at a $2.2 billion valuation. The new investment from Japanese conglomerate SoftBank’s $100 billion tech fund, will be used to bring the Compass platform to more cities than the 11 areas where it now operates. While it employs traditional brokers, the main selling points of Compass are the leveraging of data to improve the efficiency of the real estate business along with a sleek mobile app for buyers and renters.

In the picture: the two co-founders of Compass, Ori Allon and Robert Reffkin in front of the company’s HQ in New York.

OfferPad

They secured $230 million in debt from LL Funds LLC in Philadelphia in early 2017 to expand the company’s online home sales software and continue hiring at least three new employees a week, from marketing and accounting, to tech and renovation roles. OfferPad is a direct home buyer, in a mission to make “selling a home” convenient and hassle-free, by allowing sellers to get the best of both worlds – a fair and competitive offer – all at the click of a button.

Investment in real estate tech evolved beyond simple venture capital investments 2017, the study by RE:Tech shows. Corporations, who have continued to invest in real estate tech have also demonstrated increased interest in alliances and partnerships to leverage the potential of future gains. Through alliances and partnerships, real estate tech companies can gain access to customers and customer data they may not be able to access independently. Additionally, corporations gain access to technology that can help provide more attractive and cost-effective solutions.

You can download the report here: http://bit.ly/2CfCiXL

3 “trophy” boutique office buildings of Bucharest occupied by big-name tenants
3 “trophy” boutique office buildings of Bucharest occupied by big-name tenants 700 525 BUCHAREST REAL ESTATE CLUB

3 “trophy” boutique office buildings of Bucharest

occupied by big-name tenants

The niche market of small, chic office developments in Bucharest has lured some high-end tenants willing to pay up for a “trophy HQ”, ensuring landlords and investors long-term value, bigger incomes as well as full occupancy rate.

A recipe behind the success of boutique office buildings combines key location, disruptive architecture and facilities such as coffee-shops and restaurants, fitted out following the latest design trends.

Here is our top 3 preferences list among such projects in Bucharest:

ETHOS HOUSE

Developed by a Greek private investor in the middle of Floreasca -Barbu Vacarescu hub, Ethos House distinguishes itself through an architecture inspired from elements of the Florentine Renaissance. The building is 100% leased to multinationals and has become a landmark in the area due to the retail amenities: Uanderful restaurant and Fratellini coffee-shop, both part of Fratelli group.

Palatul Universul

An abandoned building in downtown Bucharest, which hosted a printing house and the editorial team of “Universul” newspaper in the inter-war glory years of the Romanian capital, was rehabilitated by an investor seizing the historic flavor opportunity of the property. The estate has become a “creative hub” and hosts an interesting tenant mix: the headquarters of BBDO advertising agency, Cumulus architecture office, a co-working space – Talent Garden, a cocktail bar, a contemporary dance studio, an art gallery, Beans & Dots coffee shop, Apollo 111 Bar & Theater.

In the picture – Palatul Universul, photo by Andrei Margulescu

Stefan cel Mare Office Building

Awarded with the American Architecture Prize, Stefan cel Mare building was developed by local developer Forte Partners in the Central Business District of the Capital. It hosts the HQ of Kaufland Romania, Apa Nova and Roeng, while at the ground floor functions one of the most appreciated restaurants in Bucharest, Kane Seasonal Bistro.

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