Stella Julia Hatzl

IMMOFINANZ update from Romania: leases, new buildings and an award

In Romania, a lot is happening at the moment – there's a reason the country is also one of the core markets in which we plan to focus our development activities in the coming years.For example, we were able to conclude leases for nearly 11,000 m² for the Iride Business Park in the last few weeks. These are to some extent new leases, to some extent extensions, which is affirmation for us – especially when clients from long-term partnerships decide in favour of us again.

Our further development plans for the region play a role in this as well: just at the turn of the year with our latest project Metroffice we began the long-term process of transforming and expanding the existing Iride Business Park into a modern quarter of the city called Iride City. Metroffice is the beginning of this master plan: in the first building phase nearly 20,000 m² will be built initially on six floors. A three-building complex with lettable space totalling approx. 40,000 m² is planned. The scheduled completion: Q1/2016. In the long term the entire premises is to be transformed into an innovative quarter featuring office, retail, recreational and residential space – thus a new quarter in the region, open and bustling.

And last but not least, our activities have also been commended by external experts: at the Forbes Best Office Buildings Gala – initiated by the Romanian Forbes Magazine, as the name suggests – IMMOFINANZ Group was highlighted as the "Largest Office Spaces Owner in Romania". Criteria such as market capitalisation, new and ongoing development projects, and long-time presence on the market were considered by the jury. All important players of the industry were present at the gala; in short, it was a pleasant evening of networking – the first of its kind, but according to Forbes certainly not the last...