Romania among most cost-effective markets for office fit-outs

28
Oct
2024
News - Romania among most cost-effective markets for office fit-outs #CEE #iO Partners #Marius Mureșan #office #Romania

by Property Forum | Office

Romania remains one of the most affordable countries in the EU for office fit-outs, with costs significantly lower than in Poland, the Czech Republic, or Western countries, according to research by iO Partners. 


The average cost of fitting out office spaces in Romania ranges between €850 and €950 per sqm, including furniture. However, this can reach €650 to €1,500 per sqm for a full project. On average costs for office space fit-outs in Romania rose by 10-15% year-on-year. 

At the same time, clients’ demands are becoming more sophisticated and technology-driven—a trend likely to continue in the long term. 

“To meet rising costs and advanced design requirements, companies need personalized consultancy and expertise in achieving work, organizational, and ESG goals. That is why, at iO Partners, we have developed a holistic and cost-optimization approach that covers all project lifecycle stages—from understanding clients’ sustainability and financial goals to building selection, detailed design, and execution,” says Marius Mureșan, Head of Project and Development Services at iO Partners. 

Despite economic uncertainty and a labor shortage that will persist, the iO Partners analysis predicts inflation stabilization and a potential slight price decrease in the near future. However, cost pressure will remain over new legislative requirements and the bureaucracy associated with ESG compliance. 




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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