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. 




Latest news


New leases

  • Astellas Pharma has renegotiated its lease for offices at One Floreasca Bucharest in a deal brokered by Fortim Trusted Advisors, an alliance member of BNP Paribas Real Estate.
  • Czech furniture industry supplier Hranipex, a provider of edge banding, adhesives, cleaning products, and accessories, has leased nearly 3,000 sqm of warehouse space at CTPark Bucharest South. The company has relocated its operations to the new facility and is currently fully operational within the park.
  • Oracle has renewed its lease for 600 sqm of office space in Belgrade, in a deal brokered by iO Partners.

New appointments

  • PSN has expanded its acquisitions team with the arrival of Martin Šrytr as Business Development Manager. Most recently, he served as Real Estate Expansion Manager at Twistcafe Group, supporting the company’s EMEA growth. His previous experience includes consulting at Cushman & Wakefield, advisory roles at Prochazka & Partners, and management positions within IWG.
  • iO Partners has announced key leadership changes within its Czech Republic operations as part of its ongoing business evolution. Milan Kilik has been appointed as the new Head of Office Leasing, with a particular focus on client advisory and team collaboration. Concurrently, Petr Kareš has transitioned into the role of Occupier Business Development Director. In this new capacity, he will be responsible for identifying new market opportunities and integrating services across Tenant Representation, Project Management, and Industrial Leasing.
  • Romanian office developer Genesis Property has appointed Cătălin Niculiță as Leasing Manager. With nearly 20 years of experience in the real estate industry, he has held leadership roles at real estate companies such as Atenor, collaborating with major office tenants in the banking, telecom, and IT sectors.


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