IWG opens new coworking space in Bucharest

Business Forum

9 January, 2025 at 8:49 AM

IWG is opening a new coworking location under the Spaces brand in Bucharest-based Vastint Business Garden building that will focus on hybrid work demand.

The new Spaces location, covering a total of 1,900 sqm, will feature private offices, meeting rooms, co-working spaces, and creative spaces.

“As an important business hub, Bucharest is a fantastic place for us to boost our expansion plans. The demand for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal,” says Mark Dixon, CEO & Founder of IWG.

He added that the new location in Bucharest comes at a time when more and more companies are discovering that flexible working enhances employee well-being and satisfaction while also helping the environment.

The new Spaces location is within walking distance of Gara de Nord and the Grozăvești (M1 line) and Basarab (M3 line) metro stations, providing quick access to central areas such as Piața Unirii and Piața Victoriei.

IWG has more than 4,000 locations in more than 120 countries. The company added 465 new locations worldwide during 2024.

Bucharest office fit-out costs remain among lowest in CEE

Bucharest has seen a 12% increase in average office fit-out costs in 2024, surpassing €1,000 per sqm, but this level is still among the lowest in capital cities across CEE, according to Cushman & Wakefield Echinox research.

Real estate

CPI Romania inks lease extensions in Bucharest

CPI Romania has announced the renewal of lease agreements with Deloitte Romania and WPP at The Mark office building in Bucharest, totaling over 12,000 sqm of office space.

Real estate

Tech spearheads office leasing in Romania

Companies in IT, manufacturing, industry, and the medical and pharmaceutical sectors were the most active in Romania's office rental market over the past five years, generating over half of the demand for new space.

Real estate

Solida Capital makes first acquisition in Romania

Property investor and asset manager Solida Capital has purchased the office project Victoria Center in Bucharest from Manova Partners, marking its first transaction in Romania and strategic expansion into CEE. The deal value was not made public.

Real estate

Bucharest office leasing down 20% in 2024

Bucharest recorded a 20% decline in office leasing, to 339,000 sqm, in 2024, compared to the previous year, although it remained above the five-year average, according to a Colliers report.

Real estate

Return to office mandates to boost demand for new spaces

Vlad Săftoiu, Head of Research Cushman & Wakefield Echinox, talked to Property Forum about the demand trends in the Romanian office market and the outlook for industrial and retail investments in 2025.

Real estate

Praktiker Real Estate buys office building in Bucharest

Praktiker Real Estate, the property company owned by Turkish investor Omer Susli, has purchased the Muntenia Business Center offices, in central Bucharest, from Longshield Investment Group for €8 million.