Genpact, Luxoft and Oracle, top lessees for Bucharest offices; 2016 market, up 20%-Esop

The 2016 office rental market may grow by 20-25% compared to 2015, says Alexandru Petrescu, managing partner ESOP Consulting, CORFAC International.

While in 2015 most demand came from multinationals such as Genpact, Luxoft and Oracle, in 2016, a succession of relocations will follow, as result of legislative changes and major consolidation of headquarters of multinationals.

"This will lead to an increase in office rental market by 20-25% compared to 2015," says Petrescu.
Current year could be the first in a series of relocations towards top quality offices, while lower quality office spaces in Bucharest will be rolled over to smaller tenants during the next 3-4 years.

"The large pre-lease contracts of ‚mammoth' office spaces, with areas of 10,000 - 40,000 square meters, completed in 2015 or still in the pipeline will free up several Class A and B+ buildings in the central area, and there's a growth coming from companies currently located in blocks of flats and other residential premises," says he.

"2016 will bring together multiple factors of influence on the office market, there will be a migration in all segments of the office market in Bucharest, amid increasing supply of offices: large tenants will strengthen their headquarters in the latest and well positioned office buildings in areas of central north and west that will take the cream."

Some of the largest transactions in 2015 were done by IT and BPO companies such as Genpact (22,000 sqm - Hermes Business Park), Oracle (10,400 sqm - Sky Tower and 20,000 square meters in Oregon Park), or Luxoft (5,500 sqm - Hermes Business Park).

In 2016 there are already known at least three major pre-leases: two big players in the banking sector and one in IT want to consolidate offices and seek solutions for over 15,000 sqm of space.

Atos, a global leader in digital transformation today announces that it has been ranked amongst the top 5 global players in Managed Security Services (MSS) in terms of 2017 market share revenue, according to th

Further strengthening its partnership with Amazon Web Services, Endava reinforces its Cloud services expertise and capabilities becoming an AWS Well-Architected Partner, the company announced.

Smartree Romania, providing HR services on the Romanian market names Anamaria Borza as the new operational director of the company, effective July, 1 this year. The new manager of Smartree team occupied the pos

Sibiu is a market with huge potential and constantly expanding, is one of the conclusions from "Outsourcing in 2018. Best Practices in Technology Adoption" conference, which was dedicated to the local business

Supporting its vision to improve the way the world works and lives, Accenture (NYSE: ACN) is committing more than 200 million US dollars over the next three years to help equip people around the world with job

Research of global manufacturers developed by Oracle with research company Coleman Parkes shows initial Industry 4.0 focus has been on internal changes rather than removing supplier, distributor and customer si

The Code4Cluj hackathon organized by Endava at Cluj-Napoca between 18-20th of May generated 9 innovative projects meant to solve the problems faced by the community and citizens of Cluj.

Zitec, a major provider of business solutions, digital services and personalized technology products in Romania, announced it registered an increase of over 40 per cent in the digital marketing segment in 2017,

This report was conducted by the PIN Maps teams (Iasi's modern office map, an impact initiative for the IT & Outsourcing industry) and Fab Lab Iasi (a 700 sqm coworking space, opened in 2017).

CBRE announced three new tenants in TN Offices 1 and TN Offices 2 of Timpuri Noi Square, reaching over 90 percent take-up of the first two buildings in this office project.

Within the recently ended OT Learning & Development roundtable edition, Andrei Romanescu CEO, VEEAM stated that he trends of the current and following years underline the importance of people skills and leaders

How to succeed in reaching the young and the valuable employees and wining their hearts and minds, so they will forever be committed to gain knowledge, evolve in profession and build a strong career inside the

Some trends are here to stay, while some other may not. How about gamification, chatbots, microlearning, data analytics, mobile learning, augmented reality and others? Today's edition of OT Learning & Developme

In the current context of machinery and AI helping on operational processes of a company, with extended applicability in terms of capabilities, the digital context in which professionals, organizations and busi

The Second Edition of OT Learning & Development roundtable will be held on June 7, 2018 at InterContinental Hotel Bucharest. The event brings together the business services professionals to discuss and discover