Real estate | 2 October, 2024 at 7:23 PM
Minimum wage increases have highest impact on office occupancy costs
Operational costs are expenses incurred by tenants, which are added to the rent and together compose the occupancy costs.
Operational costs are expenses incurred by tenants, which are added to the rent and together compose the occupancy costs.
The volume of office leasing in Bucharest amounted to 168,000 sqm during H1 2024, down 11% compared to the same period of last year, with the average new lease deal at more than 1,100 sqm, according to Cushman & Wakefield Echinox.
The largest transaction closed in Q2 2024 was related to a 20,900 sq. m pre - lease by VAT Group within VGP Park Arad.
The leasing volume of industrial and logistics spaces in Romania amounted to 410,500 sqm during H1 2024, down by 25% versus the same period of last year, with close to half of the total take-up recorded in Bucharest region, according to a Cushman & Wakefield Echinox report.
The Italian restaurant Sciccheria, the coffee shop Steam, gelateria Velocita, and French Revolution have leased a total of 375 sqm of retail space.
The budget allocated for these actions can reach up to €10,000 per year per building, an amount which has a minor impact on the owners' rental income.
Crane is a leading manufacturer of highly engineered components for challenging, mission-critical applications focused on the aerospace, defense, space and process flow industry.
The second largest share (€3.6 billion) respectively pertained to DIY stores, a segment followed by Electro-IT (€3.3 billion) and Fashion retailers (€2.2 billion).
Only one scheme (5,000 sqm GLA) was delivered during Q1, namely Cometex Hunedoara, this being the lowest recorded quarterly new supply since Q1 2017.
This evolution aligns with both regional and global trends, as European M&A deal values rose by around 30% during the same period, while global deal values increased by 16%.
The company plans to invest €2.8 million in a new office building that can accommodate up to 100 people.
The platform, designed to enhance sustainability, operational efficiency, and responsible governance, was officially announced at a major business event in New York.
The 1,000-hotel milestone was achieved in 2024 with a spate of standout openings that included Mercure London Earls Court and Mercure Chandigarh Tribune Chowk.
The paint and varnish manufacturer EVOLOR, inaugurates a new high-performance production facility, on Oltchim industrial platform, following an investment of €3 million.