Transcription
ROMANIA REGIONAL CITIESOFFICE MARKET 2014
ROMANIAMAJOR ECONOMIC INDICATORS201220132014 (F)20 mil.20 mil.20 mil.GDP growth (%)*0.73.52.1Inflation rate (%)**3.52.52.0Unemployment rate (%)*6.77.3-Average net monthly wedge ( )***360370375PopulationAverage exchange rate**1 4.45 RON 1 4.42 RON-Corporate income tax16%16%16%VAT24%24%24%Source*: EurostatSource**: National Bank of RomaniaSource***: National Commission for PrognosisBucharest
CLUJ NAPOCA
CLUJ NAPOCALondon919 KmBerlin937 Km610 KmCluj Napoca652 Km460 Km448 Km750 Km633 Km
CLUJ NAPOCAINDICATORS2013LocationTime zonePopulation*N - W RomaniaGMT 02 h324,576Inhabitants with ages between 15 – 45*52%Unemployment rate*3.5%Average net salary ( )*406Number of students per 1,000 inhabitants*154No. of universities12Main universitiesBabeş - Bolyai University, The Technical UniversityMain industriesLanguagesTransportation meansAirportRail stationsManufacturing / Technology & TelecomEnglish, French, Hungarian, GermanBus, trolleybus, tramAvram Iancu International Airport3Average distance between CEE's main Capitals**709 kmAverage distance between EU's main Capitals***1,740 km*National Institute of Statistics**Vienna, Budapest, Warsaw, Prague, Bratislava, Zagreb, Sofia***Berlin, Paris, Rome, Brussels, LondonSource: DTZ Echinox
CLUJ NAPOCAFACTS 2nd Largest city in Romania after Bucharest 2nd University center in Romania after Bucharest 2nd Largest Airport in Romania in terms of traffic* Major companies: MOL, Emerson, Ursus, Genpact, De’Longhi, Bosh 2015 European Capital of Youth Competes for the title of European Capital of Culture in 2021 Considered a mini Silicon Valley Declared the most welcoming city in Europe** 30th Place in the world in terms of internet speed (59.21 Mbps)*** 50% Building taxes reduction for Green buildings*Over 1,000,000 passengers in 2013**European Commission report 2013***Net Index 162 cities February 2014Source: DTZ Echinox
CLUJ NAPOCAOFFICE SUPPLY In terms of office supply, Cluj Napoca is considered the secondoffice market in Romania after Bucharest; The modern office stock in Cluj is estimated to be 150,000 sq m,the largest amount being represented by B class office buildings; Important office hubs are located on Dorobantilor Avenue and 21Decembrie St., with 30% from the total office stock; Currently under construction with estimated delivery date thisyear there are app. 42,000 sq m of modern office space, in officeprojects like The Office – phase I (19,000 sq m) developed by NEPI,United Business Center Tower (10,000 sq m) developed by IuliusGroup or Liberty Technology Park – phase 2 (11,400 sq m)developed by Fribourg Investment; The largest office projects announced on Cluj market are ClujBusiness Center developed by Felinvest and The Office developedby NEPI; Cluj Business Center’s first office building was delivered in Q2 2013(8,000 sq m); the entire project will have 57,000 sq m and is dueto be delivered in 2015 – 2016; The Office will be delivered in 3 phases starting 2014 and uponcompletion will add to the total stock app. 54,000 sq m; Considering all the announced projects, the modern office stock inCluj is estimated to double and reach app. 300,000 sq m in 2016.Source: DTZ Echinox
CLUJ NAPOCAOFFICE SUPPLYEXISTING OFFICE BUILDINGGLA (sq m)DEVELOPER/OWNERCoratim BC17,000CoratimSigma BC14,500Sigma Centre DevelopmentPower BC10,150Eximprod Power SystemsCluj BC (phase I)8,000FelinvestUnited Business Center Iulius7,500Iulius GroupMaestro BC7,000OmniconstructAmera TowerLiberty Technology Parc (phase I)6,8005,600Amera GroupFribourg InvestmentCluj City Center5,000Euro TrendOlimpia BC Cluj4,800AG ConsultingSilver BC4,300Silver DevelopmentBrancusi BC2,700N/AGLA (sq m)DEVELOPERDELIVERYPROJECTS UNDERCONSTRUCTIONThe Office - phase I19,000NEPIQ2 2014Liberty Technology Parc - phase 211,400Fribourg InvestmentQ2 2014United Business Center Tower10,0001,240Iulius GroupQ3 2014PrivateQ1 2014Ferdinand BCSource: DTZ Echinox
CLUJ NAPOCAOFFICE DEMAND Cluj Napoca has been considered over the last few years as thesecond most attractive city after Bucharest for BPOs and SSCs; Due to its large student population, competitive salaries andoccupancy costs, the city has been chosen as an office location bycompanies such as Genpact, Endava, Atlas Telecom, Evalueserve,Skyes Enterprises, HP, Siemens, Intel, SAP, Bombardier, Pentalog; In 2007 the American company Office Depot chose Cluj to open aShared Service Center (SSC) in order to support the back-officefinancial operations of Office Depot in Europe; the company leased3,800 sq m in UBC Iulius; SSC Cluj is the first of its kind opened byOffice Depot worldwide and is currently the only office that thecompany has in Romania; Steelcase entered the Romanian market in 2011 and chose Cluj fortheir first office; in 2012 the company decided to open its 3rdworldwide Global Center for Business, center that providessupport to company’s innovation centers, production units andsales throughout Europe and North America; E.On opened at the end of 2012 a Business Service Center (BSC)renting 2,000 sq m in Amera Tower, the only green office buildingcurrently existing in the city; this center will offer accountingservices for all the companies part of E.ON group; Companies from Financial sector and Professional sector such asRaiffeisen Bank, Banca Transilvania, PWC, Deloitte, KPMG, Ernst &Young are also tenants present on Cluj market; Among leasing transactions concluded in 2013 there are Endava –5,200 sq m in UBC Tower, RBH Technologies – 3,500 sq m inCoratim, SAP – 890 sq m in Cluj BC, 3 Pillar Global and Deloitte inThe Office.Source: DTZ Echinox
CLUJ NAPOCAOCCUPANCY COSTS & VACANCY RATE The office rental level has experienced a slight decrease whencompared with 2011, when the rental level for class A officebuildings were around 15 – 16 / sq m/ month; At the end of 2013, the headline office rents for class A werebetween 12 – 14 / sq m/ month; For B class office buildings, the rental level is situated between 9- 11 /sq m/ month; The office market's service charge costs are subject to triple netleases. The service charge costs vary between 2 – 3.5 /sqm/month; Currently the vacancy rate for class A office buildings is below10%, while the vacancy rate for class B is situated around 15 %.The vacancy rate for class A is expected to increase, consideringthat the office stock will be enhanced with app. 42,000 sq m classA office space.HEADLINE OFFICE RENTS / sq m/ monthClass A12 - 14Class B9 - 11SERVICE CHARGE COSTS / sq m/ monthTriple netVACANCY RATE2 – 3,5Class A 10%Class B15%Source: DTZ Echinox
CLUJ NAPOCAOFFICE MAPRegional Cities 2014Cluj-NapocaExisting Office Buildings1. Olimpia BC Cluj2. Cluj City Center3. Coratim Business Center4. Amera Tower5. Maestro Business Center6. Power Business Center7. United Business Center Iulius8. Brancusi BC9. Sigma Business Center10. Silver BC11. Cluj BC (phase I)12. Liberty Technology Park (phase I)Projects Under Construction13. United Business Center Tower14. The Office (phase I)15. Liberty Technology Park (phase II)16. Ferdinand BCAvram Iancu National Airport
TIMISOARATIMISOARA
TIMISOARA1,157 KmLondonBerlin808 Km482 Km287 Km523 KmTimisoara558 Km554 Km524 Km
TIMISOARAINDICATORS2013LocationW RomaniaTime zoneGMT 02 hPopulation*319,279Inhabitants with ages between 15 – 45*53%Unemployment rate*1.7%Average net salary ( )*400Number of students per 1,000 inhabitants*104No. of universities8Main universitiesPolytechnic University, The West UniversityMain industriesLanguagesTransportation meansAirportRail stationsManufacturing / Technology & Telecom / AutomotiveEnglish, French, Hungarian, GermanBus, trolleybus, tramTraian Vuia International Airport4Average distance between CEE's main Capitals**619 kmAverage distance between EU's main Capitals***1,613 km*National Institute of Statistics**Vienna, Budapest, Warsaw, Prague, Bratislava, Zagreb, Sofia***Berlin, Paris, Rome, Brussels, LondonSource: DTZ Echinox
TIMISOARAFACTS 3rd Largest city in Romania 3rd Largest Airport in Romania in terms of traffic* Main social, economic and cultural center in the western part of the country Major companies: Continental, Alcatel – Lucent, Draxlmaier Group, Smithfield, Autoliv Will be the 2nd city in Romania to have a subway 2nd City in the world after New York illuminated by electric light Was the first navigable canal on current Romanian territory Competes for the title of European Capital of Culture in 2021 The only city in Europe to have 3 state Theaters (Romanian, German, Hungarian) 8th Place in the world in terms of internet speed (98.82 Mbps)***Over 750,000 passengers in 2013**Net Index 162 cities February 2014Source: DTZ Echinox
TIMISOARAOFFICE SUPPLY Timisoara is the 4th largest office market in Romania, afterBucharest, Cluj Napoca and Iasi; The modern office stock in the city is estimated to be around100,000 sq m class A & B; Main part of the office stock is located in city center, on CoriolanBredniceanu and Gheroghe Lazar streets; The largest office project in Timisoara is City Business Center,developed by Modatim Investment and acquired by New EuropeProperty Investments (NEPI) in 2012; this was the largest officeinvestment transaction registered outside Bucharest; City Business Center currently has four office buildings (A, B, C &D) that were delivered between 2007 – 2012, with a total rentablearea of 34,000 sq m; the 5th office building of 9,000 sq m GLA isunder construction and will be completed beginning 2015; in totalCBC will have 43,000 sq m GLA; Another office project exceeding 10,000 sq m GLA is OpticaBusiness Park developed by Bega Group and delivered in 2013; In terms of new office supply, currently there are 9,000 sq munder construction and another 10,000 sq m of office spaceplanned to be delivered by the end of 2015.Source: DTZ Echinox
TIMISOARAOFFICE SUPPLYEXISTING OFFICE BUILDINGSGLA (sq m)OWNER/DEVELOPERCity Business Center (A, B, C, D)34,000NEPI / Modatim InvestmentAsirom Center11,000N/AOptica Business Park - phase I10,000Bega GroupRomcapital Center8,500RomcapitalFructus Plaza6,200GDM HoldingAGN BC4,800A.G.N. GroupPROJECTS UNDER CONSTRUCTIONCity Business Center EPLANNED OFFICE PROJECTSOptica Business Park – phase IIGLA (sq m)DEVELOPERDELIVERY9,000Modatim InvestmentQ1 2015GLA (sq m)DEVELOPERDELIVERY10,000Bega Group2015Source: DTZ Echinox
TIMISOARAOFFICE DEMAND Demand for office space comes especially from Technology &Telecom (e.g. Alcatel, TeamNet, Three Pillar Global, IBM,Vodafone, SAP), Financial (e.g. Deloitte, PWC, Raiffeisen, BCR) andManufacturing/Automotive sectors (e.g. Flextronics, Autoliv,Smithfield Foods); Even if the average transaction is between 150 – 350 sq m,Timisoara office market has also registered deals of over 1,000 sqm; The BPO company Wipro Technologies decided to enter Timisoarain 2010 and rented 4,500 sq m in City Business Center – building C;this is the company’s second office location in Romania, afterBucharest; At the end of 2012 the automotive company Autoliv decided toincrease its existing office premises in City Business Center –building D and rented in total 2,800 sq m; The German multinational software corporation SAP decided toopen a Nearshore Center in Timisoara and rented 800 sq m in CityBusiness Center in Q1 2012; in Romania the company has threeoffice locations: Bucharest, Timisoara and Cluj Napoca; Microsoft opened at the end of 2012 a Technical Support Centerchoosing also City Business Center as location; Among leasing transactions concluded in 2013 there are PWC –400 sq m in Fructus Plaza, ZTE – 675 sq m in Optica Business Park,Haufe Lexware – 920 sq m in Fructus Plaza, OMV Petrom andExpert Petroleum – 750 sq m in City Business Center – building C.Source: DTZ Echinox
TIMISOARAOCCUPANCY COSTS & VACANCY RATE Office occupancy costs on Timisoara market are similar to the onesregistered on Cluj Napoca office market; The office rental level has experienced a slight decrease whencompared with 2011, when the headline rents for class A officebuildings were around 15 - 16 / sq m/ month; At the end of 2013, the headline office rents for class A werebetween 12 – 14 / sq m/ month; For B class office buildings, the rental level is situated between 9- 11 /sq m/ month; The office market's service charge costs are subject to triple netleases. The service charge costs vary between 2 – 3 /sqm/month; Currently the vacancy rate for class A office buildings is below 5%,while the vacancy rate for class B office buildings is situatedaround 15 %.HEADLINE OFFICE RENTS / sq m/ monthClass A12 - 14Class B9 - 11SERVICE CHARGE COSTS / sq m/ monthTriple netVACANCY RATE2–3Class A 5%Class B15%Source: DTZ Echinox
TIMISOARAOFFICE MAPRegional Cities 2014TimisoaraExisting Office Buildings1. City Business Center (A, B, C, D)2. AGN BC3. Fructus Plaza4. Asirom Center5. Romcapital Center6. Optica Business Park (phase I)Projects Under Construction7. City Business Center (E)Planned Office Projects8. Optica Business Park (phase II)Traian Vuia International Airport
IASI
IASI877 KmLondonBerlin1,325 Km877 KmIasi1.,040 Km798 Km1,142 Km385 Km745 Km
IASIINDICATORS2013LocationLocal TimePopulation*N - E RomaniaGMT 02 h290,422Inhabitants with ages between 15 – 45*50%Unemployment rate*5.3%Average net salary ( )*350Number of students per 1,000 inhabitants*160No. of universities11Main universitiesAl. I. Cuza University, Technical University Ghe. AsachiMain industriesLanguagesTransportation meansAirportRail stationsManufacturing, Technology & Telecom, PharmaceuticalEnglish, French, Italian, RussianBus, tramIasi International Airport3Average distance between CEE's main Capitals**989 kmAverage distance between EU's main Capitals***2,130 km*National Institute of Statistics**Vienna, Budapest, Warsaw, Prague, Bratislava, Zagreb, Sofia***Berlin, Paris, Rome, Brussels, LondonSource: DTZ Echinox
IASIFACTS 4th Largest city in Romania 3rd University Center in Romania after Bucharest and Cluj Napoca Major companies: Continental, Delphi Diesel Systems, Antibiotice SA, E.On, Amazon Known as the Cultural Capital of Romania Main economic center in the eastern part of the country 1st City in Romania to have a higher education institution Was the Capital of Romania between 1916 - 1918 13th Place in the world in terms of internet speed (73.48 Mbps)**Net Index 162 cities February 2014Source: DTZ Echinox
IASIOFFICE SUPPLY Iasi is the third largest office market in Romania, after Bucharestand Cluj Napoca; The modern office stock is estimated to be around 120,000 sq m,70% being represented by B class office buildings; The majority of office buildings are located in city Center, Westernarea (Pacurari) and Southern area (Nicolina); The well known local developer Iulius Group started in 2010 theconstruction of Palas Iasi, a mixed retail, hotel and office scheme,with a total built area of 270,000 sq m; United Business Center, the office area in Palas Iasi, comprises offour office buildings with a total rentable area of 28,000 sq m classA office space; UBC I was completed in 2010, UBC II and UBC III in2011 and the last office building UBC IV in 2013; Other large office buildings are Ideo Business Center, with 11,000sq m rentable and Tudor Office Center with 6,400 sq m rentable; In terms of new office supply, the refurbishment of Moldova Malland its reconversion will add to the total stock another 10,000 sqm of office rentable area.Source: DTZ Echinox
IASIOFFICE SUPPLYEXISTING OFFICE BUILDINGSGLA (sq m)DEVELOPER/OWNERUnited Business Centre (I, II, III, IV)28,000Iulius GroupIdeo BC11,000Tester GroupTudor Office Center6,400Tent.CoSandru OB3,600N/ASolomons BC3,500Fiterman GroupGabriel BC3,200N/ACentrul Verde de Consultanta in Afaceri2,000Axa Plus SRLEVO BC1,600N/APLANNED OFFICE BUILDINGSGLA (sq m)OWNERMoldova Mall (reconversion)10,000Equest Balkan PropertiesSource: DTZ Echinox
IASIOFFICE DEMAND Due to its good telecom infrastructure, competitive salaries and alarge educated labor pool, Iasi has become the second mostattractive city after Cluj Napoca for companies looking to openBPO, R&D and SSC operations; The American international electronic commerce companyAmazon chose Iasi in 2005 to open a development center; at theend of 2010, the company decided to relocate and pre-leased2,000 sq m in United Business Center; Xerox opened a Shared Service Center (SSC) in Iasi end of 2012,choosing as office location Ideo Business Center and renting 1,800sq m; Xerox’s SSC will provide administrative and back officesupport for company’s European clients and internal employees; Centric IT, an American BPO company, entered Iasi market late2010 and rented 400 sq m in United Business Center – building II;in Q3 2013 the company leased an additional surface of 1,200 sqm; Ness Technologies, an Israel-based provider of IT services rented inQ4 2012 an office surface of 1,500 sq m in United Business Center– building II; Among leasing transactions concluded in 2013 there are PWC andMovial in United Business Center, Capgemeni – 2,400 sq m andBasware – 820 sq m, both in United Business Center.Source: DTZ Echinox
IASIOCCUPANCY COSTS & VACANCY RATE At the end of 2013, the headline office rents for class A werebetween 13,5 – 15 / sq m/ month; For class B office buildings, the rental level is situated between 7- 11 /sq m/ month; The office market's service charge costs are subject to triple netleases. The service charge costs vary between 2 – 3,5 /sqm/month; Currently the vacancy rate for class A office buildings is below 8%,while the vacancy rate for class B office buildings is situatedaround 10 %.HEADLINE OFFICE RENTS / sq m/ monthClass A13,5 - 15Class B7 - 11SERVICE CHARGE COSTSTriple netVACANCY RATE / sq m/ month2 – 3,5Class A 8%Class B10%Source: DTZ Echinox
IASIOFFICE MAPRegional Cities 2014IasiExisting Office Buildings1. Sandru OB2. United Business Centre (I, II, III, IV)3. Tudor Office Center4. Solomons BC5. Gabriel BC6. Centrul Verde de Consultanta in Afaceri7. Ideo Business Center8. EVO Business CenterPlanned Office Buildings9. Moldova Mall (reconversion)Iasi International Airport
BRASOV
BRASOV1,182 KmLondonBerlin1,207 Km880 Km922 KmBrasov686 Km1,020 Km168 Km537 Km
BRASOVINDICATORS2013LocationLocal TimePopulation*Central RomaniaGMT 02253,200Inhabitants with ages between 15 – 45*68%Unemployment rate*4,8%Average net salary ( )*370Number of students per 1,000 inhabitants*82No. of universities8Main universitiesTransylvania University, George Baritiu UniversityMain industriesLanguagesTransportation meansAirportRail stationsAutomotive, Manufacturing, PharmaceuticalEnglish, Hungarian, GermanTrolleybus, busPlanned5Average distance between CEE's main Capitals**943 kmAverage distance between EU's main Capitals***2,011 km*National Institute of Statistics**Vienna, Budapest, Warsaw, Prague, Bratislava, Zagreb, Sofia***Berlin, Paris, Rome, Brussels, LondonSource: DTZ Echinox
BRASOVFACTS 7th Largest city in Romania Major companies: GlaxoSmithKline, Autoliv, Europharm, Schaeffler Brasov County had the largest number of foreign visitors in 2013* Runs together with Lausanne to host in 2020 the Youth Olympic Winter Games Brasov - Ghimbav International Airport is due to be completed in 2014 19th Place in the world in terms of internet speed (69.51 Mbps)***National Institute of Statistic**Net Index 162 cities February 2014Source: DTZ Echinox
BRASOVOFFICE SUPPLY The office stock in Brasov stands at 80,000 sq m class A and Boffice space; The majority of office space is located in the Civic Center and onCalea Bucuresti; The largest office project is Brasov Business Park developed byRavensdale Investments, subsidiary of Vlerick Vastgoed, a Belgianreal estate company; Brasov Business Park comprises of two phases, first phase beingcompleted and delivered at the end of 2009, having a totalrentable area of 24,000 sq m class A office space; Coresi Business Park, developed by Ascenta Management on theformer factory site Tractorul, is another large office project thathas app. 24,300 sq m of office rentable area; The investment fund NEPI, with office properties in Bucharest, ClujNapoca and Timisoara is also present on the local market; BrasovOffices is located in the Civic Center and has 2,600 sq m rentablearea; In terms of new office supply, construction works for the secondphase of Brasov Business Park will start after the first phase will befully leased; the 2nd phase is scheduled to have 19,000 sq mrentable area; For 2015, Ascenta Management is planning the delivery of CoresiBusiness Park – phase II, having a total rentable area of 10,000 sqm.Source: DTZ Echinox
BRASOVOFFICE SUPPLYEXISTING OFFICE BUILDINGSGLA (sq m)DEVELOPER/OWNERBrasov Business Park – Phase I24,000Ravensdale InvestmentsCoresi Business Park – Phase I24,300Ascenta ManagementCristiana BC5,500N/AAllianz Building4,000Alianz-TiriacBrasov Offices2,600NEPIActium BC1,459N/APLANNED OFFICE PROJECTSGLA (sq m)DEVELOPERDELIVERYCoresi Business Park – Phase II10,000Ascenta Management2015Brasov Business Park – phase II19,000Ravensdale InvestmentsN/ASource: DTZ Echinox
BRASOVOFFICE DEMAND Demand for office space is generated especially by Financial andTechnology & Telecom sectors; Computer Generated Solutions was the first company to rentoffices in Coresi Business Park; the BPO company leased an area of4,000 sq m in Q1 2008; One of the largest office transactions registered in Brasov was the9,500 sq m pre-lease concluded in 2009 by Intesa San Paolo inBrasov Business Park; In 2011 the BPO company Arvato Services, subsidiary ofBertelsmann AG, rented 1,500 sq m in Brasov Business Park; thiswas the company’s first office operation in Romania; Other tenants in the same business park are: Siveco, Heineken,Metro Systems, Europharm, Weidmuller; In 2012 Raiffeisen Bank opened an Operational Center and leased3,500 sq m in Coresi Business Park; Among leasing transactions concluded in 2013 there are: BNP –500 sq m in Coresi Business Park and Volskbank – 180 sq m inAlianz Building.Source: DTZ Echinox
BRASOVOCCUPANCY COSTS & VACANCY RATE At the end of 2013, the headline office rents for class A werebetween 10 – 12 / sq m/ month; For B class office buildings, the rental level is situated between 8 - 11 /sq m/ month; The office market's service charge costs are subject to triple netleases. The service charge costs vary between 2 – 3,5 /sqm/month; The general vacancy rate is around 11%; the vacancy rate for classA office buildings is around 15%, while the vacancy rate for class Boffice buildings is app. 10 %.HEADLINE OFFICE RENTS / sq m/ monthClass A10 - 12Class B8 - 11SERVICE CHARGE COSTSTriple netVACANCY RATE / sq m/ month2 – 3,5Class A15%Class B10%Source: DTZ Echinox
BRASOVOFFICE MAPRegional Cities 2014BrasovExisting Office Buildings1. Brasov Business Park (phase I)2. Coresi Business Park (phase I)3. Brasov Offices4. Allianz Building5. Actium BC6. Cristiana BCPlanned Office Projects7. Brasov Business Park (phase II)8. Coresi Business Park (phase II)Brasov International Airport(planned)
CONCLUSIONSMAJOR INDICATORS REGIONAL CITIESCITYPOPULATIONINHABITANS15 – 45 YEARSUNEMPLOYMENT RATE(%)AVERAGE NET SALARY( )NO. OF STUDENTS / 1,000INHABITANSCluj Source: National Institute of Statistic 2013Source: DTZ Echinox
LABOUR MARKETREGIONAL CITIESMost common foreign languages spoken by students & graduates (self-evaluation):English & French the widest spread languagesin the compulsory educational curriculum forhigh school 0%Italian20%Spanish10%0%Cluj NapocaTimisoaraIasiBrasovNumerous languages can be recruited in smaller numbers: Russian, Portuguese, Dutch, Hungarian, Swedish, Polish, Turkish, Greek, Arabic etc. Foreign languagecolleges offer a wide choice of languages. Ethnical groups provide a valuable source of Central & Eastern European language capabilities.Source: Brainspotting Romania
LABOUR MARKETREGIONAL CITIESNET MONTHLY SALARIES EXPRESSED IN EUROACCOUNTING & FINANCESOFTWARE DEVELOPER(0 -3 years of experience)333 - 614341 - 716600 - 900275 - 375312 - 555333 - 614341 - 716600 - 900275 - 375Iasi250 - 450265 - 490275 - 575500 - 700200 – 325Brasov265 - 475285 - 525300 - 575550 - 750200 – 325CITYOFFICE MANAGERHRCluj Napoca312 - 555TimisoaraCUSTOMER SUPPORT(0 - 2 years of experience)Source: Brainspotting RomaniaNET MONTHLY SALARIES EXPRESSED IN EUROSalary expectations for graduates with no work experience / lessthan 1 year of experienceBusiness graduateIT & Engineering graduateCluj Napoca, Timisoara, Iasi, Brasov250 - 275300 - 350Source: Brainspotting Romania
CONCLUSIONSOFFICE MARKET REGIONAL CITIESHEADLINE RENTSCLASS A( / sq m/ month)HEADLINE RENTSCLASS B( / sq m/ month)SERVICE CHARGES( / sq m/ month)42,00012 - 149 - 11100,0009,00012 - 14Iasi120,00010,000Brasov80,0000OFFICE STOCK(sq m)SPACE UNDERCONSTRUCTION(sq m)Cluj Napoca150,000TimisoaraCITYVACANCY RATECLASS A (%)VACANCY RATECLASS B (%)2 – 3,5 10159 - 112-3 51513,5 - 157 - 112 – 3,5 81010 - 128 - 112 – 3,51510Source: DTZ Echinox
DTZ Echinox General contactBanu Antonache Office Center,40-44 Banul Antonache Street, 3rd FloorBucharest, district 1, RomaniaPhone: 4021 310 3100Facsimile: 4021 313 9010DTZ Echinox ContactsManagementOana IliescuPhone: 4021 310 3100Email: [email protected] agencyMadalina CojocaruPhone: 4021 310 3100Email: [email protected] RomaniaMihaela GalatanuManager, HR ConsultantPhone: 4021 310 3100Anca PuiuEmail: [email protected]: 4037 137 0603Email: [email protected]:This report should not be relied upon as a basis for entering into transactions without seeking specific, qualified, professional advice. Whilst facts have beenrigorously checked, DTZ Echinox can take no responsibility for any damage or loss suffered as a result of any inadvertent inaccuracy within this report. Informationcontained herein should not, in whole or part, be published, reproduced or referred to without prior approval. Any such reproduction should be credited to DTZEchinox. DTZ Echinox February 2014
London 652 Km 460 Km 919 Km 937 Km 633 Km 750 Km 610 Km CLUJ NAPOCA 448 Km. 2013 Location N - W Romania Time zone GMT 02 h Population* 324,576 Inhabitants with ages between 15 -45* 52% . ***Berlin, Paris, Rome, Brussels, London INDICATORS. CLUJ NAPOCA Source: DTZ Echinox 2nd Largest city in Romania after Bucharest
