2016/2017 Yearbook: Office, Logistic and Industrial Parks in Romania I CEE by Transilvania Business

YOUR BUSINESS GUIDE T

his is the 4th edition of our exclusive real estate Yearbook & investment guide for Romania, with presentations of projects in dedicated chapters and an innovative matrix of distribution to selected events and locations, in Romania and Europe, the sole product created in Romania that offers you exposure in Vienna, Munich, Warsaw, Budapest, London and of course in Bucharest and the regional market in Romania. We are delighted to show you more opportunities and that the projects we announced last year have been developed, even new ones are waiting for

you to discover them in the following pages. New developers are active in the Romanian market, transactions have a good rhythm, the potential in the regional cities is proved by future developments and expansions. We have asked owners, managers, experts to detail their accomplishments in the last year and future investment plans. Hopefully their answers should be solid arguments for you to increase your interest in business deals in Romania. Once again, we are proud to thank the owners, developers, managers, consultants, investment funds and institutions that help us to change the

perspective and convince you that Romania is attractive, we congratulate them for their work and results, and we invite you to discover the key opportunities of a rising Romania. For the 5th edition, in 2017/2018, we plan also an unique party, the perfect chance for you to network with the leaders, meanwhile you can follow the news and trends online - www. transilvaniabusiness.ro & www.instagram.com/ business.parks, the Yearbook goes interactive, all year long.

the argument

Ionut OPREA Publisher

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summary 8

Key macro indicators for Romania

New office hubs and the best cities for business

Market outlook, new logistic and industrial parks

Market index - industrial

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Market index â&#x20AC;&#x201C; office

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key figures 10

• Romania - one of the highest economic growths in the EU in 2015 (3.8%) and estimation for 2016 is 4.2% • The World Bank’s Doing Business Report 2015-2016 ranks Romania 37th worldwide • 36 investment projects have been submitted to the Goverment to receive state aids, 6 were chosen and will be implemented after investments of 510 million euros • €359 million, the total investment volume for HI 2016 in real estate sector in Romania • Prime yields - 7.25% retail, 7.50% office, 9.00% industrial • Around 70 industrial parks are spread across Romania • P3 Bucharest park is the largest logistics park in Romania, 300,000 sqm of built space so far • Total leasing activity, industrial 100,000 sqm, pre-lease & BTS projects, H1 2016 • Over 100,000 sqm of competitive industrial/logistic space was delivered in Q2 2016 in Romania, with approximately 76,000 sqm being inaugurated in Bucharest • Industrial property types are likely to be at the forefront of space demands in the coming years

• By the end of 2015 the total office stock in regional cities was 20% higher than in 2014 • In the next 18 months 165,000 sqm office space will be delivered outside Bucharest • Office demand in Bucharest in the second quarter of 2016 was mainly generated by IT and BPO/SSC companies • Vacancy rate in Bucharest decreased over the year to 12.8%, 50 bps below the level of Q2 2015 • Globalworth undertook c.€244m of real estate investment in Romania over the year 2015 • 1.48 million passengers recorded at Airport Cluj, 924,450 passengers for Timisoara Airport in 2015, Iasi Airport is targeting 1.2 million passengers in 2017 • Bucharest Airports National Company registered, in 2015, a record number of 9,287,554 passengers on the two airports of the Capital - Bucharest Henri Coanda International Airport and BucharestBaneasa Aurel Vlaicu International Airport • Prospects for the local economy are influenced by EU’s performace, which takes over 70% of the Romanian exports • Brexit is expected to have little short to medium term impact on the Romanian economy and the real estate investment market, as long as the EU economy remains stable. WWW.TRANSILVANIABUSINESS.RO

How we make a difference Integrated real estate practice

Contributing to the real estate industry

EY’s integrated real estate practice comprises experienced professionals providing assurance, tax, advisory and transaction advisory services to landlords, developers, contractors and investors. The extended real estate practice also includes all areas of construction and infrastructure. Our approach combines entrepreneurial thinking and a hands-on knowledge of issues with broad experience, vast resources and a diverse network of clients and contacts. Our team understands the issues Romanian real estate stakeholders need to address, as we are deeply involved with:

EY produces insights for the real estate industry based on in-depth knowledge and experience. In addition to our own activities, we also participate in many leading industry organizations and their programs, including EPRA, INREV, Global Real Estate Institute, Urban Land Institute and International Hotel Investment Forum.

4 Developers 4 Investment Funds 4 Banks 4 Construction Companies 4 Landlords

4 Tenants 4 Infrastructure companies 4 Private investors 4 Public authorities

Contacts Jean-Marc Cambien Partner, Tax Tel: +40 21 402 4000 jean-marc.cambien@ro.ey.com Dragoș Radu Partner, Head of Legal Tel: +40 21 402 4000 dragos.radu@ro.ey.com

Industry expertise and global reach We have more than 12,000 professionals across our globally integrated real estate practice, serving more than 4,000 real estate clients throughout the world. About 50 dedicated professionals within EY Romania are ready to assist you. We have one of the largest real estate professional services teams in Romania and worldawide.

Sector focus Our real estate focus is the key to the quality of our work. Our industry expertise and clear focus contribute to the depth of our understanding and enhances the value of the assistance offered to our clients. We assemble teams of experienced professionals in all real estate sectors: 4 Real estate asset management 4 Infrastructure 4 Construction and property development 4 Industrial, commercial and service companies (“corporates”) 4 Restructuring

Felicia Gavrila Partner, Assurance Tel: +40 21 402 4000 felicia.gavrila@ro.ey.com Horiana Istodor Executive Director, Transaction Advisory Tel: +40 21 402 4000 horiana.istodor@ro.ey.com 11

TRENDS

ROMANIA: YOUR NEXT BUSINESS DESTINATION? Let us find out together. Here are some background things to keep in mind: Romania has registered one of the highest economic growths in the EU in 2015 (3.8%) and 2016 is going on the same upward trend, at 4.2%. Moreover, investors trust the country now more than ever, with over EUR 63 billion in FDI stock in the present. In fact, German and Austrian investors have recently declared that they feel significantly more optimistic regarding their local businesses, in a survey conducted by the German Chamber of Commerce.

ompanies start treating Romania as a hub of competitive, talented people who now enable Bosch to have a 0% error rate on automotive components, Porsche to build a research center for autonomous driving and world renowned scientists to build a state of the art laser at Magurele, near Bucharest. All of this is also possible due to Romania’s positioning – the crossroads of three huge markets (the EU, CIS and Middle East) while connected to world maritime traffic through the Constanta Port at the Black Sea. But the main catalyst behind Romania’s future success has been and will always be its people. 97% of Romanian high school students learn at least two foreign languages. 90% „Our purpose is to support of students speak English and investors. We do not pick at least one more language, winners - any investor 26% speak French, 17% speak will benefit from all the Spanish, German and other.

resources InvestRomania has at its disposal. Whether it’s understanding a local market, navigating the business landscape or solving bureaucratic issues, our door will always be open.” Manuel Costescu, Secretary of State InvestRomania

At any given time, there are over 400 000 university students in Romania, with approximately 100 000 graduates every year. Over 50% specialize in STEM (Science, Technology, Engineering, Math), especially, in Computer Science, Engineering, Telecommunications, Biology, Mathematics and Chemistry. In fact, there are more engineers/ capita in Romania than in India, China, USA or Russia. There are also plenty of economists, medical professionals and law graduates to choose from. Despite all of this, labor costs remain competitive - convergence with the EU average is expected to occur around 2050. The tech focus of the education system has enabled the development of a strong internet infrastructure. Romania is first in the EMEA at broadband top speed, 3rd at 4g broadband coverage and 8th at internet average speed (according to Akamai technologies, not just Bernie Sanders). Everything is also backed-up by a sound partner in the Government. That is why it is continuously working to be an

enabler for businesses, rather than an obstacle. The World Bank’s Doing Business Report 2015-2016 ranks Romania 37th worldwide, climbing 13 positions since 2014. This is owed to a friendly tax policy (some of the lowest rates in the EU, with one of the best tax payment regimens among regional peers like for example Poland, Hungary or Bulgaria. Then there is state aid – the Government is committed to helping value adding investors coming to the country by offering nonreimbursable grants of EUR 145 million and employment incentives. Everything and much more is well presented on www. investromania.gov.ro, the Government organization for trade and investment website. You will also find an investor’s guide (“The Foreign Investor’s Guide 2016”) that describes everything you would need when considering a country as an investment destination, from regional profiles, key industries, demography, local economics etc. Needless to say, InvestRomania’s door is always open to contribute to add value to your initiative. WWW.TRANSILVANIABUSINESS.RO

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NEW OFFICE HUBS & THE BEST CITIES FOR BUSINESS 13

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DYNAMIC PLAZA,

GREEN ROOF TERRACES AND FRIENDLY WORK SPACES IN BUCHAREST CENTRE In 2010, Vastint Romania acquired the centrally located Timpuri Noi site, with over 53,000 m2 of land and a vision to create a project that is both unique and will bring value to the Timpuri Noi area and the city. This is how Timpuri Noi Square started to take shape and is now well on its way, as one of the five poles in Bucharest city centre, next to Victoriei, Romana, Universitate and Unirii.

he ideal location for building new office space comes naturally, with answering a few practical questions such as accessibility, public transportation availability and ease

Come to the most welcoming new office project in town! Timpuri Noi Square 165 Splaiul Unirii, Bucharest Sorin Macoveiu Leasing Manager T: +40 21 321 40 07 E: sorin.macoveiu@vastint.eu

of use, shopping, administrative and other facilities in the area. Laid along Splaiul Unirii, just across the street from Timpuri Noi subway station, the project inhabits an area abundant in amenities such as highly convenient public transport connections, educational centres, hospitals, shopping centres & market, Carol & Tineretului Parks, Vacaresti Nature Park, major banks and further administrative hubs. In addition, Timpuri Noi Square brings together the strengths of the wellestablished, heritage-filled, central Timpuri Noi area, with a strong connectivity to the main residential part of the city, through lines M1 and

M3 that cross all of Bucharest, as well as other means of public transport. So home is just a short subway or bike ride away from work, with cyclists parking, lockers, showers and charging stations for electrical cars offered within the complex. An attractive mix of commercial facilities will also be available on the ground floor of the buildings â&#x20AC;&#x201C; lunch and evening restaurants with inviting

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terraces, coffee shops – to name just a few of the temptations to spend time after work in Timpuri Noi Square. Green roof terraces will be directly accessible from the tenant floor, which will provide a nice area for recreation. The indoor offers natural light and 100% fresh air supply, LED lighting, 3 m open floor height, windows that open every 2.7 m and relaxing views of Bucharest’s Dambovita River, for a healthier working environment.

Vastint Romania has been active on the Romanian market since 2008, with the aim to develop sustainable class A office, mixeduse or residential projects, well integrated in the community. More on www.vastint.eu

The mixed-use project is located in district 3, with a total of up to 100,000 m 2 of class A office and retail, as well as 50,000 m 2 residential space planned. Project phase 1 - 50.000 m² underway. Commissioning of the first two buildings planned for Q1 of 2017. The 1st phase features three mid-rise office buildings, in combination with commercial and public services, all integrated in a dynamic and inviting plaza - a pleasant place to gather and interact, to work and relax. Up to 50.000 m² GLA of modern, class A office, 920 parking places and 3.000 m² retail space: 4 TN Offices 1 - GF + 10 / 13.385 m²; 4 TN Offices 2 - GF + 10 / 19.139 m²; 4 TN Offices 3 - GF + 7 / 20.063 m². *5% Add-on factor included; *Measurements performed according to BOMA standards;

Employee friendly workplace - Central location; - BREEAM Excellent Design Stage; - Class A office finishes and construction materials, modern simplicity and natural stone; - Cyclist facilities complete with parking, showers and lockers; - Priority parking spaces and charging outlets for electrical cars; - Energy-saving electrical equipment and LED lighting; - Healthy air conditioning and ventilation system, 100% fresh air supply; - Flexible fit out through structural layout, raised floors and bandraster suspended ceiling; - 3 m floor clear height; - Windows that open every 2.7 m; - Excellent natural light provision and outdoor recreation areas.

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OFFICE MARKET IN BUCHAREST n the first 6 months of the year the office market demand reached 200,000 sqm and represents a record for the real estate market in the last years. In the last quarters the new lease (new demand), meaning new companies on the market or extension of the existing companies with new divisions, represented a percentage of 25-30% from the total leasing activity. Starting with 2014 there is a substantial growth for the transactions of pre-lease, with a share that varies between 20-40%. In the next period it is expected an increase of this type of transaction as a consequence of a high number of building estimated for delivery in the next three years. The office stock in Bucharest is estimated to reach 2.73 mil sqm by the end of 2016. The office development extended also to other central business areas in Bucharest. The Central-South area is projected to become a new urban pole, Timpuri Noi Square being developed to provide working, leisure and living functions integrated into a mixed-use environment: modern, class A office complex, retail spaces and plaza, residential community. According to A.T. Kearneyâ&#x20AC;&#x2122;s Global Services Location Indexâ&#x201E;˘ top 20, measuring financial attractiveness, people skills and availability and business environment, Romania ranks 3rd position in Europe and 13th globally, but is in the 1st position in Europe and 6th in the world in terms of number of certified IT specialists

Timpuri Noi Square - tnsquare.ro

CBRE Romania renewed offices

The Bucharest office market and the office markets in important cities in Romania are recently in a sustainable development. As a consequence of the high demand of office buildings, the number of real estate developers increased.

per total population. Romania is a preferred outsourcing destination and the promoter of innovative concepts for integrated solutions on the interior design market for offices. Studies reveal that a person spends most of the time at the office; the office is also a place where you should feel comfortable, that gives you an identity and facilitates access to public transportation and amenities. The concept of wellbeing

Developers have started to implement in Romania new technologies for the office buildings: 4 Efficient LED lighting; 4 3 to 4 m clear height for office typical floors; 4 HVAC able to accommodate very large densities of employees per sq m; 4 Ventilation and air conditioning systems Chilled Beams type; 4 Advanced back-up systems capable of supporting not only the life and safety systems, but whole building consumption; 4 100% fresh air supply for a healthier working environment; 4 Charging stations for electrical cars, cyclists parking & facilities (lockers and showers); 16

continues to increase in importance for developers and employers as a need to keep employees in an effective working environment. A balanced work environment between professional and personal life, a good inter-departmental collaboration, a high class work space with additional complementary services are the main characteristics of this concept. The growths of a company, the labor force and the work environment have a common strategy. This concept is adopted first of all by companies with a large number of employees, with open space environments organized according to occupancy rate. Open space with hot desking organized based on workflow rather than department structures are preferred now days.

Starting 2008, the Advisory and Transactions Services team in CBRE Romania transacted over 450,000 sq m in Bucharest and over 40,000 sq m in the main cities of Romania. WWW.TRANSILVANIABUSINESS.RO

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AFI TECH PARK BUCHAREST

AFI EUROPE ROMANIA

CLASS A CENTRAL OFFICE PROJECTS IN BUCHAREST AND BRASOV F

ollowing the completion of the most successful office project in Romania, the 70,000 sqm GLA development of AFI Park in Bucharest, AFI Europe Romania is now set to commence additional two office Projects: AFI TECH PARK in Bucharest and AFI PARK BRASOV.

AFI PARK BRASOV - The Next Business Spot In The Heart Of The City AFI Europe Romania has completed the acquisition of the 40,000 sqm plot in the City Center of Brasov, where it will develop a Mixed–Use project that includes AFI Palace Brasov Shopping Mall and AFI Park Brasov Class A office project. The shopping mall will offer a total gross leasable area of more than 40,000 sqm GLA and office 18

buildings of approximately 25,000 sqm of gross leasable area (GLA). The complex in Brasov enables to the office tenants and employees the most convenient and perfect combination between business and personal lifestyle by offering a work environment which meets the modern lifestyle sought after by the IT generations - X, Y and Z; an All in One efficient, time saving immediate location! 4 AFI Park Brasov will be developed on top and integrated into the shopping mall. 4 AFI Park Brasov is designed as Class A office Project and will hold a LEED Gold Certification for Green Building. 4 AFI Park Brasov, which is located in an Ultra City Center Location, is lucrative to potential

tenants from the IT&C, BPO’s and Banking sectors. 4 Estimated delivery for the first office building is Q1 2018.

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OFFICE 4 The Site is considered as the absolute best location for Office & Retail development in Brasov! Perfectly situated in the City Center and 1.5 km from the historic and touristic Old City. 4 The site’s location is part of the main circulation square of the City (a wide 5 lane boulevard) and located on the main boulevard leading from the Old City (the main tourist and local attraction) to all parts of the city and the exit towards Bucharest. 4 Visibility is exceptional due to its location; Most of the City’s traffic passing through this main intersection which makes it the most accessible office location in the City. 4 Public transportation serves the location with bus stops being situated in front of the project. 4 The area is considered as the business district of the City, “the New City Center” where all the main financial institutions and the most important companies are managing their City headquarters operations. In Bucharest, AFI Europe has delivered this year AFI Park 4&5, the 4th phase of the award winning project AFI Park that is now completed with 70,000 sqm of leasable area (GLA). The business park in the Centre West area of the Capital represents an important landmark on the local real estate market and is considered as the most innovative and compatible office project for IT&C and BPO companies that seek to develop and expand in Romania. Amongst the important companies occupying the new building are Cameron (US), SII Romania, ORTEC Central & Eastern Europe, FotoNation a TESSERA company, Veeam Software and SecureWorks, joining the existing tenants of AFI Park – Microchip Technology, Electronic Arts (EA), Endava Romania, Sparkware Technologies and TELUS International. AFI TECH PARK BUCHAREST

AFI PALACE BRASOV

AFI TECH PARK Next in line for office developments in Bucharest is AFI TECH PARK, a 50,000 sqm GLA Class A Business Park, to be developed in close proximity to the J.W. Marriott Hotel and the Romanian Parliament. The Business Park will comprise of 2 office buildings with 8 floors and a 14 floor office tower, all surrounded with ample green areas, offering an IT&C / Campus style environment in an urban complex with a central plaza & gardens. The Park benefits from the Vulcan Retail Park (Hypermarket and shops) located across the street and from Liberty Shopping Mall situated 250 m from the project. The business park and the surrounding retail facilities provide all services and amenities to the employees of the office buildings. No need to drive anywhere, no need to stop on the way home, one can just walk from the office to the retail shops, finalize all needed purchases and remain with free time to enjoy life!

AFI PARK BRASOV

AFI TECH PARK manages to answer the expanding needs of IT&C companies in Romania by offering a suitable space in terms of technical specifications accompanied by required expansion options. The fact that the Business Park is located in Downtown Bucharest and not in the City Outskirts provides the Park the unique advantage sought after by multinational companies in Romania. AFI TECH PARK enjoys excellent accessibility and visibility. The project is located between 2 main traffic arteries, each having 4 lanes that allow a smooth traffic flow: Progresului Boulevard and Tudor Vladimirescu Boulevard. The Project will be built in 3 phases. Phase A and B feature 2 buildings of P+8 floors. All AFI Europe office buildings benefit of a green oriented design that assures an estimated 40% reduction of energy consumption and water use compared to a regular office building. This together with additional green energy features such as LED lightning, collections and usage of rain water and additional green features have led the buildings to receive the LEED Gold certification. With each new lease, AFI Europe Romania is planning to create long lasting transparent partnerships with its tenants and permanently answering to growing needs of the companies for their future development. The spaces in AFI Europe’s office projects are delivered according to tenants’ planning and design. The buildings include a large floor plate of between 1,500 sqm to 3,000 sqm, 2.8 m clear height floor to ceiling to enable maximum natural light, electricity and HVAC design according to a floor layout of one work station to 7 sqm, LED lighting in the office space and an approved fire system scenario according to the highest EU Standards. 19

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SEMA PARC NEW PROJECT - OFFICE 3 Sema Parc New Project Office 3 incorporates three buildings, of which Building B, with P + 1 floors, 14,000 square meters of built area, was completed in April 2016. Each floor is divided into 3 sections with areas between 1,700-2,100 sqm The following two buildings A1 and A2, with P + 1 + 2 partially, provide a built area of 26,600 sqm, with delivery in Q1 2017.

ema Parc Office 3 is located in the west part of the capital, on 319 Splaiul Independentei, at less than 10 minutes from the city center. The location allows an easy access to many communication and transportation facilities. Petrache Poenaru subway station is in front of the site, tram 41 is close by, the exit on highway A1 Bucuresti-Pitesti is at a close distance of 3,5 km, 8 km from the international Baneasa airport and 16 km from Otopeni international airport. The surroundings of Sema Parc Office 3 include areas of landscaping complemented by modern planting, seating and surrounding lighting. The impact of the project on the environment was taken into consideration right from the design stage, with the goal of achieving a BREEAM “Excellent” rating, this being the largest reconversion: industrial to office buildings. In order to reach this objective the buildings are equipped, among others, with highly efficient

heating and cooling system, insulating windows with low heat transfer coefficient and high efficiency LED luminaires. All insulation, including wall, roof, floor, pipework and ductwork insulation to be CFC, HFC and HCFC free, with an ozone depletion of zero. All products or substances generally known to be adverse to life and environment, health and safety are excluded. The heating and cooling system is the last generation of VRF (variable refrigerant flow) system with heat/ cooling recover capacity. Two-pipe

ventilo-convectors units are provided in all general office areas. The facade is high-quality and highlyefficient curtain. The curtain walling is triple-glazed with dual seal construction with the outer glass manufactured to repel solar UV. Each building of the project is equipped with a fully automated, intelligent Building Management System (BMS) which monitors and controls the building’s plant, services and associated back-up systems. The BMS enables independent and specific temperature, fresh air, and light in various areas of the building, while registering, controlling and monitoring the status and performance of all equipment in the building. Each of the buildings is provided with a backup power generator; withal the technical rooms allow the installation of standby power generation for the tenant. Communications system is ensured through dual fiber source. Disabled toilets are provided adjacent to the main toilet cores and each includes a shower and changing facility. Bike racks are provided at each main public entrance. Modern solutions were used to integrate natural light in the office buildings, almost 5,000 employees will be accommodated in the buildings. WWW.TRANSILVANIABUSINESS.RO

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NEW MILESTONES FOR ANCHOR GRUP ‘’We are pioneers on the market, having made history and continuing to do so through our projects. Among the strengths of Anchor Grup we include our reach, having developed projects in retail, residential and office over the 17 years in which we have been active on the Romanian market’’, Affan Yildirim, General Manager - Anchor Grup, is analyzing the new major objectives.

hich are in your opinion the key strengths of Anchor Grup and the advantages offered for future clients and partners by its asset mix? I think the most important of Anchor Grup’s key strengths is the fact that we take into account our customers’ and tenants’ needs in our business decisions and that we are very responsive and open to feedback from each part. This way of seeing things allows us to gain valuable insights and to act accordingly, constantly improving the products and services that we offer. Another forte of Anchor Group is our expertise in the real estate market, in Romania, but also abroad. Imagine that, in 1999, when we opened the first modern shopping center in the country, București Mall, we were alone and our way of doing business was the only way. We are pioneers on the market, having made history and continuing to do so through our projects. Among the strengths of Anchor Grup we also include our reach, having developed projects in retail, residential and office over the 17 years in which we have been active on the Romanian market. In the residential sector, we have developed InCity Residences, a residential compound situated in the heart of Bucharest. As far as retail is concerned, we continue to offer experiences to our customers through București Mall and Plaza Romania. Regarding the office building segment, we developed Anchor Plaza and Plaza Romania Offices, which offer a wide range of facilities due to their specific characteristics, as well as their positioning, near and in Plaza Romania Mall. Which are the main accomplishments of Anchor Grup in the first half of the year, your objectives for 2016/2017? The first half of 2016 has been very busy for us, having launched for sale the fourth building of InCity Residences. The 129 apartments

are of 13 different types (including triplexes), with surfaces between 63 and 265 square meters and high end finishes which include modern faucets, ceramic tiles and high quality triple layer parquetry from some of the most appreciated European producers of such materials. Moreover, the owners of InCity Residences benefit from parking situated on two basements, a playground for children, 24/7 security, but also from the fitness center, indoor pool and beauty salon services. 2016 also marked the completion of a complex reconfiguration process for București Mall and Plaza Romania, a process that took almost two years and a 26-million-euro investment. The purpose of the refurbishments was to refresh the look of our malls,

being in line with current trends and clients’ demands, while also having in mind the needs of our most important partners, our tenants. We chose the hard way during this period, refurbishing with both malls still open, but the effect was a really positive one, as we increased the occupancy rate to 95% in Plaza Romania and to 96% in București Mall. Also, another premiere was made due to these renovations. By launching Plaza Romania Offices, Anchor Grup is the first developer to convert a retail area into office spaces in a shopping center, respectively Plaza Romania. We have invested 4 million euros in this conversion, the GLA of the new office spaces amounts to 10,600 square meters and Mega Image will 23

OFFICE shortly move its headquarters here, for which they have leased 4,008 square meters, almost a third of the GLA of Plaza Romania Offices. Our tenants’ employees will benefit from all the services and facilities offered by a mall– from leisure and shopping to the food court and dedicated parking area. As far as Anchor Plaza Office Building is concerned, one of its first tenants, Adobe Romania, has recently extended its lease agreement for another five years. This was the second lease extension, in the circumstances in which the company increased twice its occupied area, since 2007. Certain parts of the common areas of the building were adapted in order to respond to the increasing rhythm that Adobe Romania is currently facing. What is your outlook regarding the potential for Romania to maintain increased interest for foreign investments? 2016 seems a good year for the Romanian economy. In 2015, a 3.8% increase was registered and this year this trend continues and the positive environment translates into the markets in which we are active, for example, with estimated increases of 500% in office spaces, approximately 180,000 square meters of new retail spaces and a very encouraging outlook for investments in real estate. In the next year and a half, in my opinion, we will see increases on all segments and, as long as the accelerated economic growth of Romania upholds this consumption trend, the residential sector will be the next real estate market magnet following in the footsteps of office spaces in the future. Metropol

Anchor Plaza Offices

Insofar as the latter are concerned, the prognosis indicates an increase of 500% of office spaces as compared to the previous year and an increase of 10% as compared to 2009, the year in which the local real estate market reached its peak. If this trend continues in the near future– as it would seem to, given that by 2018 there will be 400,000 square meters of office spaces more than there are now -, it is a great opportunity for developers such as us, who have to stay sharp, anticipate the tenants’ moves and be ready to cater to the more and more sophisticated demands of their prospective tenants.

Which are the challenges and opportunities for a developer and manager of office properties in Romania and CEE? I think that the biggest challenge for developers today is decreasing indirect support of finance sector on real estate. According to a new survey, 80% of real estate brokers consider that the new law, that allows the annulment of the debt if the customer “returns” his apartment to the bank, represents a major threat, as the number of eligible clients will decrease while the circumspection of the banks will increase. Even with all this, Romania is heading in the right direction, also supported by the increased appetite for investments, with several large projects announced for the future and tax cuts, with Bucharest still as the main hub for growth, even though Cluj and Timișoara are not that far behind in terms of business potential. How do you see the evolution of the real estate market in Bucharest and what are your thoughts now at almost 20 years since Anchor Grup has been active in real estate development in Eastern Europe? After 17 years in which we have been active in real estate development in Eastern Europe, we can say that nowadays it is crucial for a developer to understand that his customers are not just looking for an office space, but for office spaces that are modern, flexible and ergonomical, office spaces that offer room for growth, plenty of facilities and come with multiple benefits.

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SPIRIT OF VIENNA

Metroffice - IMMOFINANZ

Orhideea Towers - CA Immo

Aviators Park - S+B GRUPPE

IMMOFINANZ is a commercial real estate company whose activities are focused on the retail and office segments of eight core markets in Europe, CA Immo is a specialist in office properties in Central European capitals, with subsidiaries in six countries in the region, S IMMO AG has assets located in the established markets of Austria and Germany and in the growth markets of six countries in Central and Southeastern Europe and S+B Gruppe AG, a privately-owned property developer with offices in Bucharest, Prague, Vienna and Warsaw, is developing a number of major developments in Central and Eastern Europe... All of them have major impact and plans for Bucharest and Romania.

MMOFINANZ has completed the purchase of 25,690,163 bearer shares (representing an investment of approx. 26%) of CA Immobilien Anlagen AG from Terim Limited (Cyprus) and four registered shares of CA Immo from O1 Group Limited (Cyprus). The closing 26

took place on Tuesday, 2 August 2016. The purchase price for the package totals approx. EUR 604 million. â&#x20AC;&#x153;We met all conditions precedent in the shortest possible period of time and obtained the necessary approvals from the antitrust authorities in six countries.

This acquisition creates the basis for the merger of these two companies into one of the leading property groups in Europe. Their portfolios complement each other extremely well, and we are expecting significant synergies and an increase in the attractiveness of the combined group for WWW.TRANSILVANIABUSINESS.RO

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Orhideea Towers

the capital market – and that will benefit the shareholders of both companies“, indicated Oliver Schumy, CEO of IMMOFINANZ. The IMMOFINANZ properties in Romania represent 15.5% of the company’s total portfolio, including 76 properties (19 standing investments, 2 developments, 9 real estate inventories [apartments that are intended for sale after completion] and 46 pipeline projects) with a carrying amount of EUR 852.5 million (EUR 640.0 million standing, EUR 31.2 million developments, EUR 4.7 million real estate inventories, EUR 176.6 million pipeline). The expected fair value after completion of the current Group’s development projects in Romania amounts to EUR 106.6 million. At the end of the 2015/16 financial year, rental income in Romania presents itself stable and totals EUR 45.1 million, which accounts for 14.3% of the Group’s total rental income. IMMOFINANZ raised the occupancy level in its office standing investments by roughly seven percentage points to nearly 82% by the end of the 2015/16 financial year (as of 30 April 2016). Rentals in the office segment totalled approx. 388,000 sqm, or 29% of the total area, according to preliminary numbers. Of this total, 307,000 sqm are located in standing investments and 81,000 sqm in development projects. Roughly 40% of the standing investment rentals represent new contracts or contract expansions, while the remaining 60% are contract extensions with existing tenants.

Orhideea Towers - a new concept of workspace CA IMMO is currently developing Orhideea Towers, an icon landmark 28

project located in the new emerging central-western business district of Bucharest. Designed by BEHF, reputable Austrian architecture firm, Orhideea Towers is airy, bright and well balanced. The building is developed according to CA Immo’s highest quality standards, in terms of design, technical specifications and sustainability criteria. It is constructed as a green building and will apply for LEED Gold certification. Expansive glass walls, high ceilings throughout, openable windows and perimeter open spaces bring in ample natural light, fresh air, afford beautiful city views and encourage socialization. But what makes Orhideea Towers great is its active design which support physical movement and accommodate comfortable collaborative spaces. The project, dedicated to dynamic companies and their people, will have a total gross leasable area of 37,000 square meters. The construction has started in October 2015 with special foundation works, the entire project will be delivered in 2017. The two towers of Orhideea will have 13 storeys (GF+12 Floors), respectively 17 storeys (GF+16 Floors), with generous surfaces up to 2,700 square meters per floor and two underground floors each. The project includes 406 parking spaces and bicycle storage, showers and changing rooms for the cyclists. Orhideea Towers is located at the junction of Splaiul Independentei with Orhideelor Street with direct access to the Grozavesti subway station, benefiting from a unique location with excellent visibility both from Basarab bridge, travelled by up to 100,000 cars every day, and from Splaiul Independetei. In the vicinity of Orhideea Towers is the biggest student concentration: the Polytechnic

University of Bucharest, counting a total of 25,000 students, and Regie campus, where more than 15,000 students live. Due to Basarab passage, placed in the vicinity of Orhideea Towers, Victoria Square, the business center of Bucharest can be reached in a few minutes. Also, just 10 minutes’ walk from Orhideea Towers is the Botanical Garden and within 10 minutes’ drive one can reach the Old City center.

S Immo: start for The Mark The mandate to the Management Board of Friedrich Wachernig, Board Member of listed company S IMMO AG, has been extended for another three years until November 2019 by the Supervisory Board of the company. Friedrich Wachernig is part of the Management Board of S IMMO AG since 2007 and is, amongst others, responsible for project development, asset management in CEE/SEE and in Austria as well as legal affairs, IT and HR. Friedrich Wachernig commented: “I am very delighted to continue leading S IMMO AG on its successful path. For the upcoming quarters we have a series of exciting plans – particularly in the project development – which we will implement together with our excellent team and with great commitment.” As Austria’s first stock exchange listed real estate investment company, S IMMO AG has stood for expertise, a strong portfolio, and profitable growth since 1987. The company invests in commercial property (office, retail, and hotel) as well as residential property in four regions (Austria, Germany, and Central and WWW.TRANSILVANIABUSINESS.RO

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The Mark, S IMMO

Southeastern Europe). S IMMO AG’s strategic core shareholders are Erste Group and Vienna Insurance Group. In the 2016 financial year, S IMMO expects to see a further improvement in FFO (funds from operations) compared with 2015. The company expects to achieve value enhancements in the existing portfolio once again in 2016 through targeted asset management, successful letting, refurbishment measures, and positive developments in some of our core markets, particularly in Berlin. In terms of investments, S IMMO sees the greatest potential in Germany, especially for office properties and plots of land offering development opportunities.

The company is evaluating rezoning measures, refurbishment projects, and the development of spaces on plots of land already in the portfolio. In Vienna, the company is involved in office development projects at Vienna Central Station. Construction will start on one of these projects this spring. In addition, construction will start on the office project The Mark in the heart of Bucharest’s main business district. The renovation of Sun Plaza shopping centre has also already begun in Bucharest. According to Ernst Vejdovszky, “Overall, we expect 2016 to be a good year – for the real estate industry in general and for S IMMO in particular.”

Aviators Business Park S+B Gruppe AG, a privately-owned property developer with offices in Bucharest, Prague, Vienna and Warsaw, has been executing complex projects for over 25 years, acting as both an investor and general contractor. The team headed by Managing Director Reinhard Schertler and Viennese general planner Alfred Michael Beck specialises in architectural design, contracting, financial management and marketing for top-quality construction projects. A number of major developments are currently underway in Central and Eastern Europe. The combination of local on-site staff and international expertise is the key to S+B’s success. So far, the Group has invested over EUR 3 bn in developing a total of 1,000,000 sqm of usable space. In the immediate vicinity of the international Airport Henri Coanda - Bucharest a modern business park is being built in more building stages. The project underlines the importance of the airport as a hub for successful business and marks a starting signal for a broad development process of the near surrounding. Aviators Park will host a 4 star international hotel with approximately 200 rooms and ca. 18,700 sqm office space in four distinct buildings, with floor plates varying from 800-4.500 sq.m. and with office spaces from 120 sq.m. Delivery: 2017 WWW.TRANSILVANIABUSINESS.RO

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OFFICE Globalworth Tower - Globalworth

Gara Herastrau - Globalworth

NEW ‘’STARS’’ IN THE BUCHAREST MARKET Major projects are scheduled for delivery in 2016 – 2017 reshaping the business style in the capital of Romania. Demand in Bucharest in the second quarter of 2016 was mainly generated by IT and BPO/ SSC companies, followed by banks and pharma companies. Vacancy rate in Bucharest decreased over the year to 12.8%.

lobalworth Real Estate Investments Limited, a real estate investment company focused on taking advantage of investment opportunities in Romania and the broader SEE region, delivered two new buildings in 2016. Globalworth Tower is a landmark „class A” building in Bucharest located in the northern part

Oregon Park - Portland Trust

of the city in the Calea Floreasca/Barbu Vacarescu area. The location is one of the country’s most dynamic within the office segment and the property is situated at tat its heart. The property has excellent visibility and is situated at the junction of 3 main streets, Barbu Vacarescu Street, Pipera Road and Calea Froreasca. The

office tower is the second tallest building in Romania and the property will benefit from a retail component at ground level. Globalworth Tower has been pre-certified with LEED Platinum green certification and has a GLA: 54,686 sqm. The „Gara Herastrau” is a Class „A” office building located in the Northern part of Bucharest on Gara Herastrau Street. It is adjacent to Green Court Building “A” and is c.200 meters away from Globalworth Tower. The property has very good visibility from Barbu Vacarescu Street and is conveniently situated near the subway, tram and bus stations. The Gara Herastrau development offers a GLA: 12,037 sqm. Globalworth Tower was delivered in February 2016 and Gara Herastrau in June 2016.

Oregon Park Portland Trust, one of the most important real estate development companies in Central and Eastern Europe, founded in 1997 by Robert Neale, who is the owner and managing director of the company, is building a new project that applies the latest and most advanced technologies in the construction of Class A green office 32

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Oregon Park - Portland Trust

buildings. Oregon Park is the sixth office project developed by Portland Trust in Romania, after Opera Center I and II, Bucharest Business Park, Floreasca 169A and Floreasca Park. Oregon Park will benefit from highly energy efficient technologies, including a geothermal heat pump system which generates a significant saving of over 30% of the final costs paid for the energy used for heating and cooling, elevators with an intelligent destination-control system and internal and external LED lighting. Located in the Floreasca – Barbu Vacarescu area, Oregon Park will include three buildings with a combined leasable area of 70,000 sqm. Building A

The Landmark - Proiect Bucuresti 34

has a leasable area of 20,000 sqm, while buildings B and C will have 25,000 sqm each. The first two buildings, consisting of ground plus 6 floors, each with two levels of underground parking, are in advanced stages of construction and will be completed in the summer of 2016. Portland Trust has had a long term joint venture with ARES Management, a partnership that has allowed Portland Trust to expand and invest in larger projects in various countries throughout CEE. In Romania, the company focuses on the development of office buildings and industrial parks to the highest standards. Portland Trust has offices in Prague and

Bucharest and has built to date more than 550,000 sqm of leasable space.

In the central area Proiect Bucuresti developed ‘’The Landmark’’, an A-Class office complex excellently situated in close proximity of the central business district of Bucharest, near Romana Square. Its location in a historically preserved central area offers the benefits of easy access by car and by all kind of public transport. The Landmark business complex is composed of three separated 7-storey buildings rising over a general 3-storey basement parking. Each building is designed with a separate access to the parking, as the basement can optionally be divided into three self-contained parking areas. The office complex will provide, starting the 2nd quarter of 2016, A-class office spaces, as well as commercial services on the ground floor and first basement level. These will include shops, general stores and/or restaurants. The use of the terrain is not intensive, as per specifications of the City Planning documentation, and the unbuit area is dedicated to green planted spaces and walking paths open to public access. No business development in the last years has come close to offer such a central, exclusive location as the new The Landmark office complex. Within walking distance from several major points of interest (Romana Square, Victoriei Square or Calea Dorobanti), the office development sits in a beautiful historical district, rich in green spaces and shielded from the noise of the main WWW.TRANSILVANIABUSINESS.RO

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The Bridge - Forte Partners

boulevards. Total available office space: 18,879 sqm. New Europe Property Investments plc, a commercial property investor and developer listed on the Main Board of the Johannesburg Stock Exchange Limited (JSE), the regulated market of the Bucharest Stock Exchange (BVB) and the Alternative Investment Market (AIM) of the London Stock Exchange (LSE), is scheduled to deliver a new & refurbished office development at Victoriei Square, Sector 1, adjacent to the Romanian Government building. Victoriei Office Building is located on a land of 4,450 sqm between Paris Street and Aviatorilor Boulevard on Victoriei Square in Bucharest and comprises the consolidation of the existing building, Casa Oromolu, a 3 level building of approximately total 1,154 sqm, semibasement and 2 levels above ground, designated an Historical Monument and a new office building of 15,650 sqm total GBA, consisting of 3 levels below Victoriei Office Building - NEPI

ground for car parking, ground floor and 3 further levels of offices above ground. The building is largely completed, fit-out being currently under permitting, according to NEPIS’s results presentation in June 2016. The list of company developments includes an extension of Promenada Mall with a significant office component.

More for 2016-2017 Forte Partners appointed construction company Bog’Art as the general contractor for the first phase of The Bridge business park. The Bridge is designed taking into consideration the latest worldwide trends for green buildings, the business park going to be certified as LEED GOLD. The architecture firm which designed the project is Epstein, the company being also designated as LEED assessor for this business center. The future tenants will benefit from major reduction of maintenance costs due to the developer’s

investment in performing systems, which reduce electrical and heating energy costs. The business park will be erected in two phases on 15 Orhideelor Street, on the land of the former bread factory, Spicul. The estimated delivery date for the first phase is September 2017. In April 2016, Romanian Commercial Bank signed a lease contract for 18,000 sqm. BCR is to consolidate here its Bucharest business head office premises on five floors and will also open a retail unit at the ground floor. ATENOR also announced that it has completed the acquisition of two adjoining plots in Romania in Bucharest’s CBD. The site is located at the intersection of two of the Romanian capital’s main roads: Victoriei Road and Dacia Boulevard. With a total of 5,000 sq m , the land will be used to develop a new class A office building, Dacia 1, of around 12,000 sqm, meeting the best space efficiency and energy performance standards, while also integrating harmoniously with Bucharest’s historic centre. ATENOR is completing the development of its first office project in the North of Bucharest, a complex of 72,000 sq m called Hermès Business Campus, two buildings having already been delivered and the third under construction; the lease rate for this third building is already over 90%. At the end of 2015 Skanska Romania announced the completion of a transaction for a new plot of land in the west-central area of Bucharest. The company has acquired a total area of 21,306 square meters, located on 6 Maniu Boulevard in Bucharest. The seller of the land is Pumac SA. New developments of Skanska will follow the development of Green Court project, partially owned now by Globalworth. WWW.TRANSILVANIABUSINESS.RO

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HOW TO GET RID OF A NON-PAYING TENANT? Harvesting the results of a real estate project – be it office, retail or residential – can stumble now and then on situations where tenants remain behind on paying the rent. So what measures can a landlord implement according to Romanian law and what steps can he take in order to maximize his chances of quickly and effectively getting rid of a defaulting tenant?

s the saying goes, prevention is always better than cure, thus, in order to facilitate the eviction of a defaulting tenant, landlords are advised to conclude lease agreements in notarized authenticated form. Such a notarized lease agreement represents, according to Romanian law, an enforcement order (Rom. titlu executoriu) which enables (a) the swift recovery of unpaid rent and (b) the eviction of the tenant/retaking possession of the leased premises after the lease term has expired or after the lease has been unilaterally terminated, both without having to bring action before a court of law. Alternatively, a privately signed lease agreement registered with the fiscal authorities also enjoys the effects of an enforcement order. In addition, according to the New Romanian Code of Civil Procedure, the tenant can expressly waive the formality for the landlord to notify the tenant of the eviction in advance via bailiff, a diligent landlord should negotiate such a clause in his lease agreements.

But what if the landlord does not benefit from a lease title in authenticated/notarized form? In such a case, landlords traditionally had to bring action in court, either requesting the restitution of the leased premises based on the tenant’s obligation deriving from the lease agreement to vacate the leased premises or invoking the landlord’s ownership right. However, both these types of law suit many times proved tiresome and tedious. In accordance with the more modern provisions of the New Romanian Code of Civil Procedure, the landlord/owner of the real estate benefits from a special procedure before the court meant for exactly the situations discussed herein. The particularities of said procedure are as follows: (a) action may be filed with the court in the area in which the real estate is situated;(b) the tenant is cited at the address of the real estate, thus eliminating the possibility of the tenant to dispute the validity of the court’s ruling on the grounds of irregular citation; (c) hearings are swift;

(d) the court’s ruling in first instance is enforceable; (e) the tenant may not file incidental/secondary claims in the eviction procedure and (f) the enforceability of the ruling may be suspended only if the tenant provides the unpaid rent at the disposal of the landlord. And, in order not to have the same tenant claiming rights with respect to a new lease of the leased premises, it is further advisable to insert an express waiver by the tenant of the right of first refusal (which is automatically granted by the Civil Code to the tenant) to the benefit of the landlord. In conclusion, it is highly advisable for the landlord to include special clauses, from the beginning, in the lease agreement and to conclude the said agreement in authentic/notarized form in order to facilitate the eviction of the tenant, should such a necessity arise during the contractual relationship. Roxana Dudau, Associated Partner, Head of Real Estate & Construction, Noerr Alexandru Dan, Associate, Noerr 39

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OFFICE Openville ensemble - in the immediate vicinity of Iulius Mall Timisoara - Iulius Group

REGIONAL BUSINESS POLES Iulius Group, Ascenta Management, NEPI, Vlerick Group, Werk Property Group, AFI Europe, TBE Solutions with Alpha Bank, Ovidiu Sandor, Tester Group, Transilvania Constructii, Multinvest are investing in extensions or new projects in the regional market, in cities like Timisoara, Cluj-Napoca, Brasov, Iasi or Tirgu Mures.

n September 2015, the Iulius Group inaugurated the construction works for the Openville mixed-use project, which will become a landmark for the sustainable development of Timişoara. Over 220 million Euros will be invested in the urban ensemble located in the immediate vicinity of Iulius Mall Timişoara, this being the largest infusion of private capital in the real estate industry in western Romania. Designed based on the “lifestyle center” concept, Openville will bring together office, retail, park and entertainment functions. This is the second mixeduse project in the company portfolio alongside Palas Iasi. The construction works will be carried out in carefully marked perimeters and will be phased. Thus, the first works to be carried out immediately after the inauguration are focused on the office component, namely the United Business Center 2 (UBC 2) class A office building, located in the area adjacent to Iulius

Mall, towards the Antenei Boulevard. The building will span on 18,000 sqm and on 11 floors, following the “green building” principles in order

to become LEED certified. For the UBC 2 building, the company already signed partnerships with Ness Software Engineering Services, a premier provider Coresi Business Park Brasov - Ascenta Management

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Timisoara Centrum - Alpha Bank and TBE Solutions

of outsourced engineering services, and with REGINA MARIA, which will open here its first clinic in TimiĹ&#x;oara. The building will be completed by the end of 2016. By the same time, the company will also open a total of 33,000 sqm of office spaces. The first development stage of the Openville ensemble will be completed during the last quarter of 2017 and will comprise 80,000 sqm class A office spaces, retail spaces and the park. The second development stage includes the development of office spaces up to a total of 131,000 sqm, depending on the market demands. Approximately 16,500 people will work in the Openville ensemble. Coresi Business Park, the class A office project

developed by Ascenta Management on the former Tractorul industrial platform from Brasov, Romania, recently obtained the BREEAM Very Good sustainability certificate for two of its first buildings. T39 and T42 Buildings, part of the first development phase of Coresi Business Park, received the Very Good ranking under the BREEAM International 2013 regulations for new constructions and major refurbishments. The buildings were subject to a complex refurbishment and renovation program between 2012-2016, completed with the delivery of 14,000 sq m of modern office space. Ascenta Management and BuildGreen have also joined forces for the BREEAM certification of the

second phase of Coresi Business Park Brasov, comprising three low-rise office buildings. The first one, L1 Building, is already built and scheduled for delivery in Q2 2016, while the other two are currently under development. Coresi Business Park is developed on the former Tractorul industrial platform from Brasov. The scheme is one of the major urban regeneration projects in Romania, transforming 12 hectares of the old manufacturing plant into a contemporary business environment. The initial phase of Coresi Business Park consists of approximately 25,000 sqm. The master plan of Coresi Business Park features a well-balanced mix of industrial halls to office conversions and new built offices, envisioning 100,000 sqm GBA of office within 10 years (2015-2025). New Europe Property Investments (NEPI) and the entrepreneur Ovidiu Sandor have begun this year the construction works for the third and last phase of the largest office complex in Cluj-Napoca. 18,500 sqm of the this phase are scheduled for completion in Q2 2017. The Office will include a total rentable area of 59,185 sqm upon its completion. Ovidiu Sandor also announced a new significant office project for Timisoara, scheduled to be delivered in 2018, in the same city which will benefit from a 90 million euro investment from Alpha Bank and TBE Solutions â&#x20AC;&#x201C; a company owned by Ali Ergun Ergen, for Timisoara Centrum, mixed project that will incorporate a 7-floor office building along with retail and leisure facilities.

The Office Cluj Napoca - NEPI and Ovidiu Sandor

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LIBERTY TECHNOLOGY PARK CLUJ THE ITC BUSINESS HUB OF THE REGION T

he first two stages of Liberty Technology Park Cluj are complete with residents and the tech park focuses now on becoming the focal point of the IT business in the region. Over 16,750 sqm are used by a mix of mature companies, start-ups and the Spherik Accelerator, and the 15 million euros investment by Fribourg Capital has gain recognition as one of the most successful projects in the area. The next step? Transforming this working ecosystem into a real center for innovation and thus changing the community. But how did all this started? „The Liberty Technology Park Cluj project emerged from the idea of interfering in the local landscape in the most profound way in order to change the essence of this place in a positive way, to become a natural extension of this city. From these same ideas were born the premises of this project that exceed the standard criteria of a real estate project, embedding all the features of a technological park. Moreover, the solutions used in the construction of the park are all innovative, consisting in only environmentally friendly technologies and energetically efficient solutions,” Ion Sturza, Chairman of Fribourg Capital, explains. Liberty Technology Park Cluj is the first technological park in Romania, a park for creative ideas built in a revolutionary place designed to offer exceptional growth and quality environment for companies in the IT&C and R&D domains, all in one unique area both conceptually and architecturally. It is a dynamic ecosystem for local and international companies driven by that particular vision that makes ideas come to life and businesses thrive. The vision for LTPC is simple, yet deep: to intensify connections and communication between companies that activate in similar domains, in a revolutionary space, in order to generate innovation and progress. So what is a technology park? Based on the concept of creativity as resulting from a productive process

of cross fertilization between people that activate in different domains, a technology park becomes a dynamic ecosystem that fosters top companies and inspirational people, generating thus the key factor necessary for an economic development based on technology: innovation. On a larger scale, they promote economic development and competitiveness between neighbouring cities and regions, by creating new jobs based on contemporary technologies, while raising standards concerning the quality of the workplace and the professional life of the employees. And Liberty Technology Park Cluj is such a technology park: a park of ideas. Important names of the industry are to be found at LTPC, some of them for the first time in the city or even in Romania: Halcyon Mobile, Siemens,

Arvato Bertelsmann, Altran, Recall Information Services, Control Data Systems, KPMG, Makronetz, Ecuson Studio, Regal Benoit Romania, Luminos Software, Voquz, Impact Hub, Banca Transilvania, Medicover, Smart Up, One IT – to name just a few. Now, that the park has reached its full occupancy, the team looks into the future. „In 5 to 10 years, I see Liberty Technology Park Cluj as the center of the IT business city of Cluj-Napoca, a center the city needs, a center as we can see in London and Berlin. I am convinced it will become the focal point of Cluj-Napoca for the business and the innovative industry, the meeting point of innovation and money,” Ion Sturza concludes. More information about Liberty Technology Park Cluj is available on the website www.libertytechpark.com. 45

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FULL SERVICE BUSINESS PARK A pioneer business park with complete business solutions determined more success for companies and the evolution of business in Brasov. The perspectives are underlined by Andras Policsek, Managing Director Ravensdale Investments.

hat strategic arguments determined Ravensdale Investments, a subsidy of the Vlerick Group to develop Brasov Business Park? Vlerick Group is a Belgian familyowned diversified group active across selected industries and selected geographies, including Western Europe, Eastern Europe, India and the United States. The presence of Vlerick Group in Romania started in 2005 via the establishment of UCO Tesatura, an integrated denim factory in Giurgiu followed by a partnership with the BMT Group in Iasi for manufacturing precision gears for the aerospace industry. The decision to invest in Romania and to continue to do so has been driven to a large extent by the business-friendly attitude of its citizens, which we experienced at all levels of interaction, from business partners to the people we work with on a daily

Brasov Business Park Brasov, Romania - 500446, 1 Ionescu Crum Street phone: +40 (0) 368 00 33 88 email: office@brasovbusinesspark.com www.brasovbusinesspark.com

basis. Next to the industrial presence, in 2006, Vlerick Group extended its activities in Romania with real estate development through its subsidy Ravensdale Investments, developer of Brasov Business Park. We identified the need for a top location for office space, events, conferences and meetings in Brasov, a city with high growing potential and the perfect location for foreign companies searching for offshore investments. Being our flagship real estate project in Romania, Brasov Business Park offers tenants and visitors a full range of facilities of a business park and is currently hosting over 1,200 professionals from various renowned international companies. Which were the key challenges, the corner stones? How would you describe the city in terms of competitiveness and potential? Our biggest challenge throughout the evolution of the project was to attract big potential tenants to Brasov, a city with a very good pool of qualified workforce and a top geographical location but with lacking infrastructure. We are optimistic that by the development of the highway network and the airport of Brasov will increase the appetite of investors for the central region of Romania. What type of strategies did you apply to cope with the clients and partners interests and to attract new ones? With Brasov Business Park we are offering a complete business solution for our clients. Our tenants and visitors are able to use all the facilities provided

by our building: Class A office space, conference and exhibition center, restaurant, cafeteria and parking facilities. Our strategy to offer the complete package is regarded as one of our key advantages. For our tenants, the presence in Brasov Business Park provides a major advantage to offer best working conditions for their employees and to attract new ones in a labor market which tends to have shortages of well qualified workforce. What are the main investments planned for the years to come, especially for 2016-2017? We intend to initiate the construction of the second phase of Brasov Business Park, the completion of which will increase the capacity with nearly 30,000 sqm and provide high-quality office space for additional national and international service companies looking for a (increased) presence in the region. In addition to that, we are projected to develop an industrial area of 25 ha in Brasov, along the DN13 in order to provide medium to large industrial, logistical and big box retail players with purpose-built facilities. 47

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CHANGES IN THE TAXATION OF REAL ESTATE The new Fiscal Code applicable starting 1 January 2016 brought certain changes with impact also on the real estate business. Below are a few of these changes.

Ramona Stefan, Tax Senior Consultant, EY Romania

ocal tax system on real estate properties changed. The taxation method relating to building tax was modified, this being established based on the buildingâ&#x20AC;&#x2122;s final destination (i.e. residential/non-residential/ mixed use) and not on owner type as it was previously (individual/ legal entity). The applicable building tax rates as per the new Fiscal Code are as follows: for residential buildings: 0.08% - 0.2%; for nonresidential buildings: 0.2% - 1.3%; for non-residential buildings used in the agricultural sector: 0.4%. The building tax increases to 5% in case the legal entity did not update the taxable value in the last 3 years (as compared to 10%-20% for buildings not revalued in the last 3 years and 30%-40% for buildings not revalued in the last 5 years, as stipulated in the past). Additionally, the revaluation system for buildings was changed. More specifically, for building taxes due starting 1 January 2016 separate revaluation reports should be prepared (for tax and accounting purposes). Individuals owning nonresidential buildings should perform a valuation every 5 years, in order to avoid the increased building tax 48

Cristina Clujescu, Manager, Tax Advisory and Compliance Services, EY Romania

rate of 2%. Although apparently there is now the same approach regarding the taxation of buildings held by legal entities and individuals, there can be still differences such as the basis to which the tax rate is applied. The land tax is now also due for the land area covered by a building. Building and land taxes are payable for the entire tax year by the taxpayer which owns the asset at 31 December of the previous tax year (previously the taxes were pro-rated for the holding period). The level by which the local authorities can increase building and land taxes has been increased to 50% of the maximum levels established by the Fiscal Code (previously the increase could be only up to a maximum of 20%).

VAT reverse-charge Starting with 1st of January 2016, along with the re-publishing of the Fiscal Code, the Ministry of Public Finances included the sales of real estate under the domestic reverse charge procedure. The respective procedure provides that in case of sales of land and buildings which are subject to VAT, either by law or by option, the buyer will be the

person liable to account for the related VAT via the reverse charge mechanism, thus triggering a nil cash-flow impact at the level of the parties. In this respect, in order to enable the application of the reverse charge procedure, both the supplier and the buyer must be registered for VAT purposes in Romania.

VAT deduction Also, starting 1st of January 2016, the Ministry of Public Finances introduced new provisions on the VAT deduction right at the level of the mixed taxable persons (carrying out both VAT exempt without credit and VAT-able operations). Specifically, as an exception from the VAT deduction based on pro-rata allocation rule, in case of acquisitions incurred during investment/development phases envisaged to be used for both operations entitling to VAT deduction right, as well as for VAT exempt without deduction right operations, the related input VAT may be deducted in full during such investment process. Subsequently, a VAT adjustment may be required depending on the actual commissioning of the investment. WWW.TRANSILVANIABUSINESS.RO

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MEDICOVER OFFERS INTEGRATED HEALTHCARE SOLUTIONS FOR CORPORATE CLIENTS Medicover, one of the most important private healthcare operators in Romania, opened this summer the second multidisciplinary clinic in Cluj-Napoca, in Liberty Technology Park on Garii Street. The new facility offers access to ten medical specialties at Swedish standards, a dedicated Occupational Health department and a special center for physical therapy and physiotherapy.

hrough the new clinic, companies benefit from dedicated programs for employees’ health, with a focus on health monitoring, performance increase, stress level monitoring and ergonomic physical therapy. The clinic offers access to two conference rooms for classes and workshops, on topics chosen together with the companies, in accordance with the needs and profiles of the employees: nutrition, reducing stress levels, first aid etc. The clinic in Liberty Technology Park is the second Medicover unit in Cluj-Napoca. The first clinic has been operational ever since 2006, and is situated close to the Botanical Garden, on Republicii Street. Medicover Republicii offers access to 20 medical specialties, including dental and dermato-cosmetology services, being at the same time an accredited center for international vaccinations, providing immunization through specific vaccines, prophylactic medication and medical advice for travel. Furthermore, to more efficiently support its corporate clients in offering top quality healthcare to their employees, Medicover recently launched a new service dedicated to them: health insurance for employees. The Medicover health insurance packages are easy to tailor, to allow companies to choose exactly the services and interventions which they consider necessary for their employees: from tests and investigations, to pregnancy protocol, and complex surgeries, all at extremely advantageous premiums. Clients also have the possibility to tailor their premium payment schedule. The new Medicover health insurance packages offer access to treatment in any medical unit part of the national

network of own and partner clinics, as well as in the Medicover Hospital in Bucharest. The insured people benefit from a dedicated call-center number, as well as from an electronic medical history (Electronic Medical Record), through which doctors from the Medicover network have quick and simple access to patients’ history. Health insurance packages complete in a flexible way the medical subscriptions, offering integrated health benefits for companies and their employees. At international level, Medicover Group has more than ten years of experience on the health insurance market, in countries such as Sweden, Poland and Hungary. With a network of 18 own clinics in Bucharest and the country (Timisoara, Cluj-Napoca, Constanta, Iasi, Ploiesti, Brasov, Galati) and a general hospital in Bucharest, Medicover is the only healthcare provider in Romania to also offer health insurances for employees. “We believe in the value created by health insurance services offered

directly by the health specialist,” said Adrian Peake, General Manager of Medicover Romania. “We are convinced that our experience of over 20 years on the local medical sector will support the development of this new direction, to bring Medicover’s services close to as many Romanian employees as possible. As such, we are the only operator to offer direct, unconditioned access, without additional bureaucracy, to the highest quality medical care, saving time for the patient.”

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TOP NOTCH GREEN ENGINEERING The use of innovative technologies and the purpose of creating a modern, environmentally friendly office place were just few of the ideas that gave birth to the first Green Office Building in Tîrgu Mures, inaugurated in 2013. It has received BREEAM certification from London. After only 3 years from this groundbreaking launch, the second green office is about to be opened.

ultinvest Business Center 2 can proudly declare to be the greenest and the most innovative workspace in the city, with a usable area of 9,000 sq m., expecting “EXCELLENT” BREEAM Certification. From an architectural perspective, the new business center is designed to be a state-of-the-art building, evidencing the top notch engineering focus of the company. Starting September 2016, the building will host businesses like Raiffeisen Bank, Lateral, Arobs Transilvania Software, RDS&RCS and SEA Complet, as tenants, for which the interior design was elaborated after special requirements. Thanks to its outstanding placement, at the close proximity to the city center and most important transportation hubs, tenants can take full advantage of the privileged location. The Business Center along with the shopping area are organic parts of an urban regeneration project in development, which opens up, alongside with the immediate vicinity of retail parks, a vast universe of opportunities for employees and citizens as well.

Multinvest Architecting the future Started as a family business in the early 90’s, the company evolved into a high profile architecture and design firm in only a few years, becoming one of the top planning institutes in the field of civil construction at the end of the century. As the global financial crisis arrived,

Multinvest answered to the challenge, by reorienting the firm’s profile to include Project Management also. When building investments were collapsing, the company successfully inaugurated its own Business Center, becoming pioneer in the city in constructing a green office building. It represented the outset in offering overarching services as general contracting. With the prosperous outbreak as general contractor, the company succeeded in executing several constructions such as retail parks for C&A, Flanco, Sportisimo, KFC, PEPCO, DM, etc., supermarkets like Lidl, along with industrial halls for international companies such as Hirschmann Automotive, factory warehouse for Matricon, as well as appendix for Romgaz. ‘’At present, the company extended its services with real estate administration, technic and non-technic maintenance, becoming Multinvest Group, diverging in five different sections: Design & Planning, Project Management, AG – General Contracting, Property Management and Facility Management. The whole team is prepared in satisfying every need of the client, from the birth of an idea, throughout execution, beyond the delivery, ensuring oversight and maintenance of the real estate’’, states

Gogolák H. Zsolt, CEO - Multinvest. With the launch of its second Business Center, MBC2, the vision of the company is to change the future of the city, by a long-term master plan, projecting a new and innovative neighbourhood. The idea of redesigning the area supports not only the growth of business life, but employees can also work in familyfriendly and self-sustaining environment. With this idea, the company sustains the concept of Environmental Awareness. By supporting technological innovation, Multinvest tends to aim the sphere of entrepreneurship by supporting the first co-working space in Tirgu Mures, and creating opportunities for the flourishing of the community. Being part of the Green Building & Development Cluster, an entity which is based on the union of forces, Multinvest Group believes in the common values for the growth of the society. With the consolidation of different fields of expertise the goal of industrial and social development can be fulfilled by attracting investors to Transilvania, where market potential is very strong. The CEO of the company, Gogolák H. Zsolt envisions a future, where over 5,000 workplaces could be founded in the city of Tirgu Mures, following his motto by János Bolyai, “Out of nothing I have created a new, different world.” WWW.TRANSILVANIABUSINESS.RO

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CLUJ INNOVATION PARK C

luj Innovation Park is the company created by the City Council of Cluj-Napoca which coordinates and develops the Regional Center of Excellence for Creative Industries (CREIC) and the Center for Technology, Evolution, Entrepreneurship and Microenterprises (TEAM). Both centers located in Lomb area manage to create an innovative and attractive initiative, working together with the business environment and academia of Transylvania. Cluj Innovation Park offers logistic services and integrated solutions for businesses. The logistic services available for the companyâ&#x20AC;&#x2122;s clients are: reception services, mail distribution, security, monitoring, fire protection systems, broadband Internet access, voice and data IP, cleaning services and maintenance of buildings, air conditioning system, maintenance of equipment, parking spaces. The integrated solutions for businesses include support services for Spin-off and Start-up, advertising for companies located in the business centers on a specialized website, IT tools, help-desk type assistance services in the fields of information, technology, finance, law, and also management investment and sales consultancy. The main focus of Cluj Innovation Park is to become the regional leader among the business centers which encourage the innovative, creative and entrepreneurial potential, lobbying for the transfer of technology and knowledge.

CREIC Surface: 73,400 sq m Usable floor area: 13,300 sq m Offices: 2,200 sq m Workshops: 970 sq m Film studio: 620 sq m Multifunctional spaces: 1,100 sq m

The Center for Transfer, Evolution, Entrepreneurship and Microenterprises (TEAM)

The Regional Center of Excellence for Creative Industries (CREIC) CREIC is a regional business center dedicated to companies active in the creative industries. It offers a complex and diverse range of services and facilities, in the same time aiming to become a cluster, promoting the exchange of information and business partnership. The business center hosts office spaces, conference and event rooms, spaces designed for exhibitions, artistic performances etc., a green amphitheatre for outdoor events, as well as parking spaces. Furthermore, CREIC is the only creative center in Transylvania to host media production offices, workshops, and most importantly a film studio (film production hall), and the only business center in Romania to integrate such a facility.

The project includes the necessary infrastructure to support the business environment in the fields of information, technology, electronics and electro technics, identified as areas in full growth at the present time. The center is designed to integrate offices, meeting halls, administrative and modular offices, as well as Contact halls for micro production and areas of land. More Romania, 400021, Cluj-Napoca than a space dedicated to 2/16 F.D. Roosevelt Street innovation, the TEAM Tel/Fax: +40 264 450 320 Center provides support www.clujinnovationpark.ro services in many different office@clujinnovationpark.ro domains, such as financial, legal and IT consultancy, marketing services and partnerships. TEAM Surface: 106,786 sq m Usable floor area: 4,840 sq m Built area: 5,480 sq m Surface of platforms: 7,170 sq m Office buildings and support spaces (underground, ground floor, three levels): 3,302 sq m Five microproduction halls: 1,538 sq m Parking spaces: 86 57

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TAILORED REAL ESTATE SOLUTIONS Customized solutions in a dynamic region with more and more interest from investors are essential. REMS provides also expertise and dedicated focus on Cluj, as explained by Andrasi Tibor, senior broker, industrial/office department.

hat characteristics of Cluj still determine new investments in expansion or creation of industrial/ logistic parks, or to develop office centers? The most important feature that attracts investors in Cluj is the international airport with good connections to all corners of the world and its pro-European trend impacting all fields, but also the city’s growing need for industrial premises/ offices. This is what brought about the emergence of large office centers in the city: The Office, Liberty Technology Park and Cluj Business Center (CBC). Investors were encouraged by the fact that there was a huge scarcity in this field. Another important element is the occupancy rate of these premises which is 95% and an ever increasing demand of high class premises. The lack of industrial parks with class A logistic premises and large premises on Cluj real estate market is another feature that motivates investors to start large projects. How do you appreciate the rent levels, total leasing activity in the region, and the current construction pipeline, which types of sectors/ clients are driving the performance levels? Generally, prices are influenced by demand and this demand is currently growing which makes prices go up even more. Class A large office centers are in great demand and their occupancy rate is 90%. Prices for such premises range from EUR 11 to 13.5/sqm plus

128 Constantin Brancusi Street Cluj-Napoca Phone/Fax: +40 364 736 015 email: andrasi.tibor@remsimobiliare.ro www.remsimobiliare.ro 58

service charges. As for industrial share, occupancy rate is close to 100% and here we are dealing with a major shortage. Talking about future investments, there are no significant projects so far. Rental prices for such properties range between EUR 3.5-3.9 I/sqm for class A and EUR 3-3.5/sqm for less equipped remaining industrial premises. Build-to-suit trend will persist as this is the only option for premise customizing and optimizing depending on the specific features of each activity. What is in your expertise the defining role of a consulting company in the regional market, which are the main benefits for a client/investor, how would you characterize the strengths of REMS team? The need for tailor-made services was triggered by the rapid development of the city of Cluj and the increasing demand for investment opportunities so that our customers should have everything available and within the reach, right here, in Cluj-Napoca. What distinguishes us from a national/ multinational company is that we focus exclusively on Cluj county area, which enables us to manage real estate

offers in a professional and exhaustive manner. Hundreds of transactions with major players on Cluj the real estate market stand as proof of our success. REMS’ major objective is the professional approach of its corporate, institutional and private clients’ requirements, confirming a longterm relationship with them based on trust and respect. Our practical experience to date combined with a constant improvement of theoretical knowledge entitle us to provide with an objective and professional advice for any real estate transaction. We assist our clients throughout the whole process, from special advice to purchase land to design, market research, marketing plans and estate advertising and consulting to finance. We are the only company offering a complete portfolio of services before, during and after the real estate transaction was completed. Our target for 2017 is to sign as many built-to suit contracts as possible in one of the three key- areas for industrial/logistic units: Someseni Airport; Muncii Boulevard - Emerson and Apahida- Nervia Park. We think this is the only solution to meet our customers’ requirements. WWW.TRANSILVANIABUSINESS.RO

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CONSIDERATIONS ON LAND ACQUISITION IN ROMANIA T

he real estate and development market in Romania is again attractive to investors, further to the upward trend recorded since 2015. However, the market evolution is far from reaching the level of the years before the global economic crisis. In terms of opportunities, the Romanian real estate market keeps offering a wide range of attractions in both office and residential projects. Land purchase by nationals of EU member states or of a state that is part of the European Economic Area can presently be done in Romania under the same conditions as stipulated by the law for Romanian nationals or natural persons. Foreign natural or legal persons and stateless individuals from outside the EU can obtain ownership over the land under the conditions regulated by international treaties on reciprocity basis. They cannot obtain ownership over the land on terms more favorable than the ones applicable to nationals of an EU member state and to the legal persons formed under the laws of a Member State. A legal person residing or non-residing in Romania can purchase all real rights over immovable assets to the extent needed to run business, according to companyâ&#x20AC;&#x2122;s business purpose, under observance of the legal provisions on acquiring the right of private ownership over the land by foreign nationals and stateless persons, as well as by foreign legal entities. The laws regulating the real estate sector are various: the Civil Code, the Law no. 312/2005, the Law No. 312/2005 as to land purchase by foreign nationals and stateless individuals, as well as by legal entities of foreign nationality, the Law no. 17/2014 as to some measures regulating the sale and purchase of farmland located outside town limits, the Law no. 50/1991 as to the development of construction works, the Law no. 350/2001 as to the town and country planning, the Law no. 7/1996 as to cadastre and real estate publicity, etc. Romanian laws have been adapted to the European legislation and they make an attractive market in terms of size and low labor costs. However, investment plans with real estate in Romania require particular attention in terms of securing transactions. In the following lines we will insist on two legal aspects that must be considered

the ownership title, the buyer must take into account several other minimal verifications to make sure that the respective land is technically fit for development (geotechnical surveys, checking the land for utility networks crossing it, environmental studies etc.). All these measures are absolutely necessary in the case of land purchase for development purposes (building on), as in certain situations the Romanian laws impose some restrictions on building (for instance, when utility networks cross the land in question at ground/underground level).

Pay attention to negotiating and drafting the transaction documents in the implementation of a land purchase for real estate development projects.

Important checkings before closing When choosing a land in order to build, good price and location do not suffice. There are a number of other major factors that investors should consider, beside utilities, roads, access and surrounding neighbourhood. Checking done as of negotiation stage is essential for the success of all real estate projects. The first and most important, in our opinion, is the analysis of the deed of ownership over the land, from the present owner to the original one. The buyer must make sure that it exists, that there are no major legal risks related to holding or exercising the right of ownership by the seller, that the property is not encumbered by burdens (mortgage), and that it is registered with the Land Registry. Furthermore, it is recommended to check that there are no interdictions regarding the alienation of that land and that all preemptive rights over that property, if the case, have been exercised. In Romania, the process of restoring ownership of land and property confiscated by the communist regime continues to raise legal issues more than 25 years after the Revolution, and many properties still have unclear or potentially litigious legal status. Beyond these few legal aspects regarding

The guarantee of success in any real estate investment begins with the negotiation and drafting of the property sale documents, which are most of the time very complex and require correct and consistent structuring of the transaction. Itâ&#x20AC;&#x2122;s important to know that the documents of land purchase for construction are susceptible to inserting suspensive conditions stipulating, among other things, the making of the above analyses or even obtaining a construction permit prior to closing the land sale in question. Special attention should also be paid to sellerâ&#x20AC;&#x2122;s representations and warranties in the transaction documents. They are meant to ensure better protection for the buyer in case of eviction, defects or objective impossibility of building on the land. In relation with the real estate market, land certainly is the investment that has the greatest potential for growth. In order for an investment to prove profitable, the investor must turn to the best real estate consultants and teams of specialized lawyers consistently experienced in the field. Note: Information in this article is not legal advice. This article provides general information, based on existing laws on the day of its publication. All steps to take or not take action should rely not on this information, but on specific legal advice. By Cristina BOJICA, Partner, GRUIA DUFAUT Law Office www.gruiadufaut.com 59

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TESTER GROUP - DOUBLE OPPORTUNITIES Bogdan Pitigoi, president of Tester Group Iasi, reveals insights about the potential of the North â&#x20AC;&#x201C; Eastern Romania, and is announcing new investments.

hat factors convinced you to develop new investments, even if you already had a good representation in the business enviornment? The city of Iasi is already considered a regional economic development pole with high development perspectives. There is strong enthusiasm in the IT sector and an increasing appetite for investments in the industrial sector. Existing workforce, IT graduating students, foreign languages and engineering are some of the strengths. The increasing number of jobs available and the relative easy employment processes are attracting more young people to work in IT companies or companies with services in this industry, companies which are specialized in software development, outsourcing, call centers or shared service centers. Due to the investments in modernizing and development of the International Iasi Airport, the city has now good connections with Bucharest but also with other important European cities, the time needed to arrive here is now much shorter. All these factors will motivate the investors to visit the city, to discover its opportunities and to return with important investment plans. We have more young entrepreneurs, with a new mindset, with good idea and a different vision for the business environment in Iasi. For them we develop attractive offices, at European standards, where to host them and support their development. They will find all the facilities here so that they will be able to focus on essential business details, having all the services that they could possibly want. Which are the strengths of Tester Group? In the last 20 years Tester Group has created and developed business in retail, services, car dealership, HoReCa, insurance, real estate â&#x20AC;&#x201C; office and logistics and production, constantly recognized for vision, dynamism and performance, through the capacity to adapt to new trends and to respect quality standards. The group is managing today Ideo Business Center and Solo Logistic Park â&#x20AC;&#x201C; the most technologically advanced logistic park in North Eastern Romania and Tester Technology Park, in total 30,000 sqm office space used by 5,000 people and 10,000 sqm industrial halls with companies having another 1,000 employees. Xerox, Lear Corporation, GfK, Oracle, Atexis, Tata Technologies, Sonovision, Falcon Trading, DAAS and KPMG are a few of the prestigious companies developing in our buildings, a business community we are proud with. Our priorities are the companies and the entrepreneurs, the benefit from tailored services to develop their business model and they have all the needed services, including facility management provided by our integrated company, so they feel that they are a part of our business community. Now the occupancy rate in our projects is 100%, but we invite you to visit IDEO, the top support and development business center in Iasi, to see the plans for expansion, including our visuals for IDEO 2. The construction works will start early 2017. Due to the requests from clients and 60

motivated by the positive development of the business environment in Iasi, in the coming months we intend to double also our industrial portfolio. The facilities offered by Solo for logistic, production, warehousing will meet the expectations from all potential investors interested in developments in Iasi, either foreign investors or business interested to relocate from inside Romania. You are one of the most important entrepreneurs and developers in the country, which business style defines you? I am permanently connected to my partners, I follow in depth the business environment in the region and in the country and I am aware of the accelerated growth of technology solutions for the near future. I have all the determination to support my partners, to provide for them solutions for their growth needs through developments in real estate in vicinity to the existing ones in a way that allows the development of our community. We continuously invest to maintain western standards and I am opened to ideas for development, in order to offer our partners, multinational companies or start-ups, the support they need. The target for the next years is to double the surfaces of the projects in our portfolio, from 30,000 sqm to 60,000 sqm. It is an ambitious dream that will become reality. WWW.TRANSILVANIABUSINESS.RO

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IDEO. ACCELERATING NEW BUSINESS. Not just an office building, IDEO is evolving to extend its integrated services. A business community.

deo is the most modern Business Development Support Center in Iasi. The Center has a total area of about 15,000 sqm and includes office spaces Class A +, training halls and conference rooms, kindergarten, restaurant and a generous parking lot with 300 parking places. In the same time, offers a rental office sharing system, a novelty in Iasi,

IDEO, integrated solutions: • property management, optimum asset management • secretarial services 24/7 • restaurant • kindergarten • conference halls • innovative services for start-ups • generous parking area IDEO 1 – 15,000 sqm IDEO 2 - 10,000 sqm, extension planned for 2017

that covers the space, the furniture and the internet connection. The project also offers the opportunity to rent offices for just a day. Designers have decided to contradict sobriety main function specific, ubiquitous in office buildings, aiming to avoid an overlap between this and pessimism difficult economic period that crosses all fields. As such, the indoor environment specific nuances have gone gray, gray-green, green, black, gray oil, imposing spectacular as accent that personalizes levels, shades of lilac, pink, carmine red, chocolate brown, golden yellow, bronze, expressed both through classic finishes dedicated office functions - laminated glass, lime, stainless steel - and of special finishes, less common in the common spaces such functions - wallpaper, leather and wood. Ideo addresses both, mature companies and start-ups. Our partners benefit from all conditions and services necessary for the proper performance of the business, in order to focus on essential details of their business. With us you are not just in an office building, but have available all the services and facilities that you wish you could. Thus, the building successfully fulfill all the needs of an exigent tenant and ensures a very friendly environment for some of the most prestigious

companies in the market: XEROX, ECOLAB, Falcon Trading, GEBERIT, KPMG or DAAS. In 2017 Ideo will turn into a multifunctional office complex by the emergence of two one more building with 10,000 sqm built area and with access to all the functions of the existing Ideo building. Due to the successful development of many start-ups in the project Ideo, the new building will integrate a modern business incubator, allowing accelerated development of the newly established companies. The managerial team is current also focusing on increasing the quality of services offered to current tenants. 61

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A SUCCESSFUL BUSINESS BRAND IN ROMANIA For the first time in its history, Iasi International Airport is now the third regional airport in Romania, in terms of passenger traffic, whereas in 2012 it was on the 6th place. The traffic at Iasi Airport, estimated for this year, is 850,000 passengers and the target for 2017 is very likely to exceed one million passengers. Iasi Airport has recently been certified as “International” after a thorough analysis and evaluation of its activity in the last few years.

t present, Iasi International Airport is directly linked to 16 foreign destinations, as compared to only one external route in 2012, when the new managerial team took over the activity at Iasi International Airport. Iasi Airport has recently been certified as “International” after a thorough analysis and evaluation of its activity in the last few years. The report on this certification, which was issued by a multidisciplinary committee assigned by Ministry of Transport, testifies that Iasi Airport meets all the statuary requirements in the aviation field. Investment charges in modernization works (a flexible runway, an extended apron, a new passenger terminal, all these completed earlier than estimated), along with constant increase of passenger traffic, new procedures, modern equipment and the range of new public services have contributed to a higher rank certification. Today Iasi Airport is the only airport in the region of Moldova (Romania) certified as “International”. Over the past three years, the rapid evolution of Iasi International Airport has generated, within local community, a 40% increase of tourism income,

a 50% lower employment rate for university graduates and 30% lower for high-school graduates, which means an overall increase of qualified work request, a 60% increase of office rental demand in 2015, as compared to 2014, and 7 times more, compared to 2012. “We have launched many challenges to the Romanian civil aviation field, while designing a strategic purposeful plan of modernization, so that for the whole aviation, even at the international

level, Iasi International Airport is now a model of efficiency and conformity to all European aviation norms. Such spectacular evolution of a regional airport does not occur very often, and by maintaining an earnest respectful collaboration with the airlines and being constantly involved in providing security and comfort, we are nowadays known as a reliable investment for our partners. Moreover, recent positive financial results, as our airport is now financially self-sustainable, prove that we have built up a solid mechanism of administration. We have already made up a new plan of development and expansion for the next ten years. The project, estimated at 20 million Euros, aims at transforming Iasi Airport into a reliable economic pole in our region. We call it a visionary phased project that is assumed to continue present infrastructure development and airsides expansion, that is connecting the two terminals, extending the existing apron, increasing investment in auxiliary activity areas (commerce, tourism, accommodation etc.), as well as creating direct connections with important parts of the city”, Marius Bodea, Chairman of the Board, Iasi International Airport, stated. WWW.TRANSILVANIABUSINESS.RO

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OFFICE IASI

THE ITO STAR OF BUSINESS SERVICES AND ITS OFFICE FACTORIES In spite of the general opinion that Iasi and the Northern part of Romania are poorly developed at the European level, the region holds significant resources for business development and investments. A recent study is revealing that the number of IT & Outsourcing specialists has doubled in 2 years to over 12,600, and the office stock exceeds 180,000 sqm in modern office buildings. The office buildings are becoming the new software and outsourcing factories for the regional community of the metropolitan area of Iasi.

BSL (Association of Business Service Leaders) has named Iasi “The Northern Star of Business Services”. There is certain subjectivity in terms of choosing a city for opening a business or expanding it, besides the concrete metrics regarding people salaries, rents, and technical skills. The competition is not formed within the country; Cluj-Napoca or Timisoara are not competition for Iasi, as each has different competences. Instead, the stakeholders’ focus should be targeting markets such as Morocco, Guatemala, Vietnam and Columbia. Bucharest is an almost saturated market in terms of business development and many companies present in the capital are opening subsidiaries in other cities in Romania, in order to resist the salary spiral.

Strategies For instance, Iasi alone has a 2.750 specialists yearly pipeline, coming from relevant specialized faculties (including the Faculty of Computer Sciences) but also from alternative channels such as the Informal School of IT – IASI branch (www.informalschool.com). The city is offering proper conditions to ITO and

outsourcing investments, due to the strong academic environment, with over 55,000 students, the advanced telecom infrastructure and a continuous flux of ITO specialists. Following the conclusions of a market research (“ITC 2030 North-East Region”) published by ADI Euronest ICT Cluster, the number of employees in the IT & Outsourcing field in the North-East of the country could reach 33.000 ITO specialists in 2030, this being an optimistic scenario that could become reality on certain conditions: the average growth rate of the employee number to be 10% per year, the number of IT graduates to rise from 1.100 to 2.500 per year and IT graduates from Cernauti, Odesa, Balti and Chisinau to come to work here. A selective immigration policy for strategic segments such as IT will boost the attraction for the neighboring well-educated talent pools from Ukraine and Republic of Moldova. Iasi is already considered a strong ITO pole, but the potential of available workforce is greater here than in other areas. The rise of employees in the ITO field can

be caused by a rise of the graduates number in all the fields that are related to ITO, whether we are talking about them working in software development companies, outsourcing, call center or shared service center. The potential of available ITO workforce is higher in Iasi than in any other area and the real estate developers are willing to create office buildings in any space in record time. “In a period between 6 and 9 months, depending on the season, we can deliver on any surface a greenfield building class A. We have lands, authorizations, financing thus we can build,” says Bogdan Pitigoi, the entrepreneur who controls the Tester Group in Iasi, specialized in the automotive, real estate and textile industries, a business that has a turnover of 33 million euro, 1.400 employees and more than 40.000 sqm of office and logistic buildings (Ideo, Solo and Tester).

Latest projects In order to satisfy the potential demand on the office market, office buildings are WWW.TRANSILVANIABUSINESS.RO

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Extind - projects As far as North-East Romania goes, an event to draw attention to the dynamism of the IT & Outsourcing industry was missing. In the spring of 2016, the first edition of the Regional IT & Outsourcing Industry Awards, entitled PIN Awards, has taken place in Iasi (www.pinawards.ro). PIN Magazine was also launched this year. The ITO industry magazine with an online version (www.pinmagazine.ro) became thus a relevant communication platform on the specialist community, specific events and the newest technologies. A new is to develop another business tool for Iasi – PIN Map, a printed map of office buildings followed by its interactive online version (www. pinmapIasi.ro). Beside the modern office buildings, the PIN Map of Iasi will show also other initiatives relevant to ITO industry (airport, conference halls, start-up hubs, schools, corporate travel agencies, industrial & logistics parks, electric cars charging stations), statistics, graphics and location of the future green office & logistics projects.

already appearing in Iasi, offices emerging from reconversions of residential apartment buildings and hotels (e.g. UBC3 and 4), multilevel commercial centers (Moldova Center), auto showrooms (Tester 1), old fabric plants (Tesatura), administrative buildings (Nicolina Business Center, Deco Stil) or, most recently, multiplex cinemas (Palas – UBC 6). These reconversions require massive investments. However, their central location makes the return of investment possible in a reasonable time frame of 10 to 12 years. Many international companies are requiring surfaces between 800-3,000 square meters per level for a better building of the flows, of the departments and of the connecting subdivisions (e.g. conference halls, dining room, relaxation room, etc.). Presently, there are only three building in Iasi that have a surface per level that exceeds 2.000 square meters (IDEO 1, Moldova Center and UBC3). In parallel, the possibility of decreasing the number of levels that a company rents in a building leads to decreasing costs with the administrative staff (reception, security), with the IT infrastructure (server rooms, cables, etc.), but also decreasing transit time between departments/functions. Access control and data security are also factors to consider. One can already foresee three big development areas of the future modern office buildings: CBD (Central Business District) – the buildings in the area Sf. Lazar, Palat street, Sos.Nationala, Splai Bahlui, where the traffic and parking lots become congested; West Zone – the area Pacurari and exit towards the ringroad, easily accessible from the new residential neighborhoods in the metropolitan area of Iasi; the Industrial East Zone – contains the platforms Nicolina, Tesatura, Tester, Ispal, Terom and extends up to Tatarasi and is limited by the Technical University and the student campus. The problem is the granularity of this stock, because there are up to ten office buildings that have surfaces to rent of over 5,000 square meters, the rest having total surfaces of 500 – 2,000 square meters. The reduced size of the majority of the office buildings in Iasi stems from the fact that the investments have been realized without a prior market research, from the low funding level from the banking system in crisis in 2008 - 2011, from the lack of experience of the investors, from accessing European funds that come with certain limitations. We don’t have yet that many start-ups that we could host in

these buildings. The wave coming towards us is a “giants” one, a wave that starts from 2.000 square meter offices in the first year, but that tends towards 5.000-10.000 square meters for a single company, all in one single building. What will be needed are technological parks with 3-5 office buildings of minimum 2.000 square meters per level and a GLA (Gross Leasing Area) of minimum 10.000 square meters each, with generous parking spaces, well connected to public transportation and to bicycle lanes, all projected from the beginning to uphold the international standards for green buildings (LEED, BREEAM, etc.). For this last aspect of green buildings, lobbying to the local and regional administrative level will be necessary, in order to adopt a number of support measures already implemented successfully in other cities (e.g. Cluj-Napoca, Timisoara) with the help of RoGBC (The Romanian Council for Green Buildings), that have a branch in IASI – RoGBC Moldova – since 2015. Dan Zaharia, senior consultant, Extind (www.danzaharia.biz) 65

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HISTORIC MILESTONE FOR MUNICH AIRPORT Another chapter in the history of Munich Airport began on April 26, 2016 with the launch of the new satellite terminal – Germany’s first midfield terminal. Europe’s only five-star airport is again setting new standards. The satellite terminal is also a continuation of the successful joint venture between Munich Airport and Lufthansa. Total investments in the satellite terminal amount to about 900 million euros.

„A

s one of the world’s most advanced terminal buildings, the satellite is an infrastructure development for the future. Its annual passenger capacity matches the entire traffic handled by a mid-sized German airport. Once again, Munich is setting new standards. For the state of Bavaria it is an enormous gain in terms of mobility and competitiveness that will make us the envy of other regions in Germany and Europe,” said Markus Söder, the Bavarian minister of finance and the chairman of the airport’s Supervisory Board. Munich Airport’s CEO Michael Kerkloh sees the satellite as a key element in the successful ongoing development of the airport. „With the satellite, we will not only maintain our justly renowned standards of service and overall airport experience: We will actually take them to a higher level. That starts with the comfortably appointed waiting areas, and extends to the attractive marketplaces with the charming restaurants and the 27 pier-served aircraft stands which, in most cases, will eliminate the need to move passengers by bus.” The CEO of Lufthansa, Carsten Spohr, also commented: „With twice as many pier-served stands for boarding and deplaning, five new lounges with more than 4,000 square meters of floor space and state- of the - art gates, passengers at our five-star hub will enjoy even more comfort and higher

standards of quality. Our investment in premium-quality facilities is a visible commitment to the continuation of our success story in Munich. „In the words of Munich’s mayor, Dieter Reiter, the opening of the satellite is „yet another milestone in the success story of Germany’s second-largest airport.”

New satellite terminal redefines standards The new facility will give Munich Airport 27 new gate positions where passengers can board aircraft directly without bus transportation. With the new satellite facility, the capacity of Terminal 2, which is used by Lufthansa and its Star Alliance partners, will be increased by 11 million to 36 million passengers per year. As one of the world’s most advanced passenger facilities, the satellite terminal will offer passengers pleasant surroundings with a wide range of shopping and dining options in attractive and spacious areas flooded with natural light. Passengers will also have five new Lufthansa lounges to choose from. The satellite has no direct landside transportation links. Check-in will take place in Terminal 2. Passengers will then undergo passport screening and hand baggage checks before boarding the

airport’s own underground transport system that will take them to the satellite terminal in barely a minute. Awaiting passengers in the satellite terminal is an entirely new dining and shopping experience, with 15 retail areas, seven restaurants and cafes and three duty free zones in a spacious, 7,000 square meter setting. The architecture, the shopping options and the wide variety of foods and drinks available reflect the Bavarian lifestyle and Munich’s unique character. All services are situated at the center of the new building for quick and convenient access by customers. From here the five new Lufthansa lounges are just steps away. With an area of 4,000 square meters, this nearly doubles the total area of the Terminal 2 lounge facilities. The new concept features a roof terrace, panoramic windows and a bar overlooking the airport apron. Forming the heart of the new passenger facility is the central marketplace, which is flooded with natural light. Market stands, each with a theme, are an authentic tribute to the Viktualienmarkt, Munich’s renowned open-air market. WWW.TRANSILVANIABUSINESS.RO

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MARKET OUTLOOK: LOGISTIC AND INDUSTRIAL PARKS 67

INDUSTRIAL CBRE REPORT

ROMANIA INDUSTRIAL BIG BOX, H1 Total leasing activity achieving 100,000 sq m, driven mainly by pre-lease & BTS projects. The vacancy rate continued decreasing towards 2.5% at a national level and 1.5% in Bucharest. The current construction pipeline is robust, with 60,000 sq m already delivered and another 120,000 sq m underway. Prime rent seen a lately increasing tendency as it now stands at 3.9 â&#x201A;Ź/sq m/month. Prime Yield remains at the level of 8.75%. For H1 industrial market performance was mainly driven by logistics & retail industry.

he Romanian industrial market continued to experience robust built-to-suit construction and strong leasing demand for class A industrial and logistics constructions at the end of H1 2016. As more than 50% of the total leasing activity being traced to this type of transaction. This real estate segment expanded for a 18th consecutive quarter, logging 210,000 sq m of TLA in H1 2016. This was up 20% over the previous year and was the fourth best year during the streak. The first half of the year positive pre-lease and BTS activity can be primarily traced to three large occupancies: Carrefour (30,000 sq m at P3 Bucharest Logistic Park), Yazaki (29,000 sq m at WDP Park Braila) and OTZ Logistics (15,000 sq m at CTPark Bucharest West). The strongest demand throughout the first two quarters came from logistics and retail companies, 130,000 sq m.

Stock, vacancy, rental levels A total of 60,000 sq m of modern supply was added nationwide in H1 2016 and another 125,000 sq m to be completed by the end of 2016. In 2017 we expect to see new class Total Leasing Activity by market, H1 2016

A developments measuring at least 70,000 sq m, partially speculative. As has been the trend during this cycle, deliveries were strongest in bulk distribution markets and production based markets like Bucharest, Timisoara, Sibiu, Arges, each with more than 14,000 sq m of completions during the first half. Total vacancy fell to 2.5%, which is a decrease of 150 basis points year on year. In the same timeframe, the vacancy rate for warehouse/distribution space in Bucharest market also decreased by 450 bps to 1.5%. Therefore Bucharest finished the quarter with the lowest availability rate. This overall tendency of decrease of vacancy rate creates momentum for further rental level increase, as basically any new demand that comes in the market needs to be serviced through a new development, rather than occupancy in existing stock. In Q2 2016, the prime rent slightly grew 0.3% to Eur 3.9 per sq m, registering the first increase in 3 years. This growth was

driven mainly by significant demand for the increasingly tight supply of Class A warehouse space.

Forecast The declines in availability and vacancy should continue to trigger a rise in build to suit/pre-lease but also a more active speculative construction in some markets. We saw this trend begin to take shape in H1 2016 and expect more construction later in 2016 and beyond. Industrial property types such as logistics and production facilities are likely to be at the forefront of space demands in the coming years thus the leasing activity will maintain itself strong. We shall continue to see new developments appear in Bucharest where the existing tenants sustains the current demand, compared to the other production based markets where we can see some new market entries. WWW.TRANSILVANIABUSINESS.RO

INDUSTRIAL WHY ROMANIA?

WE EXPECT NEW DEVELOPMENTS IN MANY REGIONS Dana Bordei, Head of Industrial Services - CBRE Romania, highlights key factors for the higher speed of business in real estate, in a country set for growth.

hat strategic arguments of Romania still determine new investments in expansion or creation of industrial/logistic parks, or to create production facilities? What do investors want? Where do we stand among competitors in CEE/SEE? Romania has one of the strongest macro-economic growth in European Union in 2016. While for a number of countries, including neighbours like Poland and Hungary, the yearly forecast has been downgraded after poor performances in Q1 and Q2, for Romania the forecast has remained stable: growth of 4.2%, to be followed by 3.5% in 2017. The dominant economic cycle factor is the rise in private consumption, where, again, Romania is in the top. This is helped by buoyant real income growth, VAT cuts and overall pro-cyclical fiscal easing policy from the government. A rise in consumption easily translates into retailer turnover growth and industrial production growth, all of which give a direct boost towards the industrial sector. The macro-economic fundamentals are extremely strong and the same can be said about property fundamentals: total leasing activity is up for the 18th consecutive quarter (in H1 2016 up 20% y-o-y), almost all new schemes delivered in the market are fully leased before opening, vacancy rate is negligible, indicating a shortage of modern warehouse space, both in Bucharest and pan-regionally, while prime rent registered its first increase (from EUR 3.8/sqm to EUR 3.9/sqm/month) within this economic cycle. How would you characterize the potential for Bucharest and regional markets, which are the hot spots – regions, that will benefit from new developments/investments in 2016/2017? As the rise in consumption is ever more prevalent, the investment and development in logistic sector in Bucharest (surrounding areas) will continue, at a higher rhythm than in previous years. Major retailers have consolidated and expanded their warehouses in Bucharest and have started to look in new geographical areas of Romania, most predominantly North-East, in order to better cover the customers’ needs from Moldova. Production/manufacturing companies would like to expand within the traditional production areas in Romania (West and Center), but workforce availability makes companies to look to new areas, like North-East and East of Romania. How are the recent international events affecting the Romanian market, in the near future will Romania suffer or benefit from redefined roles on the international stage - Europe? At the moment we are still in a waiting phase, to better understand future decisions & plans. For the moment, business continues as usual, and in the case of Romania, at a higher speed than in previous years.

What is in your expertise the defining role of a consultant and a consulting company, which are the main benefits for a client/investor, how would you characterize the strengths of CBRE Romania team? Lately, client expectations (both tenant and developer wise) have been extremely high – the information requested by them and the level of consultancy demanded requires inter-departmental skills and dedicated brokerage knowledge. In order to cater to such demands, the CBRE industrial team has reached its biggest number of members – 9, each with a specific skill: brokerage, consultancy, research, technical project management or legislation proficient. CBRE has also an active role in promoting Romania as an attractive destination for international players, which are the main challenges, accomplishments in the last two years? In the last two years alone, CBRE assisted over 30 companies in relation to their real-estate needs – from leasing to built-to-suit projects. Out of these companies, almost a third are production companies which have employeed thousands of people and have strong plans for future expansion in the next time period. In total, CBRE represented clients for over 310,000 sq m (both leased and new space), mostly located in Bucharest, West and Center of Romania. Another strong accomplishment from CBRE team is that we have managed to attract new investors in new areas of Romania, like Iasi and Braila. 69

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NEW INVESTMENTS AND LOCATIONS During the last year, Zacaria Group has doubled its portfolio of industrial warehouses in Romania, currently surpassing 140,000 sqm of rentable area. Since the strengthening of the real estate market, and the increasing demand for high quality warehousing coupled with client oriented service, Zacaria Group took the decision to continue expanding in this sector of the market. As a result, the company is now developing a further 107,000 sqm of industrial warehouses in Sibiu, Craiova and Cisnadie.

he Group’s investors, Alf Mizzi & Sons from Malta, now own and operate through Zacaria Group 10 industrial projects located in 7 major cities across the country. “The demand for the product and service we offer is very promising” says CEO of Zacaria Group Jonathan S Diamantino, “this has led to increasing confidence from our investors and the necessary investment to satisfy our existing and future clients”, he further added. Currently, Zacaria Group has over 50 industrial clients across the country, who collectively employ over 3,000 people. The activities of these companies are varied, and include storage and distribution, logistics, production, textiles, furniture, precision engineering, automotive parts production as well as a host of other B2B and B2C services. Zacaria Group claims that its success is mainly due to the flexibility it offers to its clients which in turn creates a loyal and productive business partnership. Zacaria Group can rent out warehouse space from

areas as small as 500 sqm up to 30,000 sqm, each space rented is custom fitted for the client and for optimal performance. Zacaria Group has a department dedicated for these fit outs. The idea is to create a perfect fit between the space rented and the clients requirements.

Zacaria Group’s core strategy has always been that of developing industrial parks in accessible areas and close to highways in order to facilitate efficient logistics distribution nationally and internationally. In keeping with the company’s core strategy, Zacaria Group has initiated the development of a brand new Class A, 90,000 sqm industrial park, with 46,500 sqm of rentable warehouse space, in Sibiu, less than 300 meters from the A1 highway, A 90,000 sqm Industrial Park in Craiova with 33,000 sqm of rentable warehouse space and a 35,000 Industrial Park in Cisnadie with 28,000 sqm of rentable warehouse space disposed on two levels. Delivery dates for these projects will be March 2017. During the last 11 years, Zacaria Group has had the capability to adapt to market changes quickly and has always given its clients the highest of priorities. This combination is all part of Zacaria’s success formula, and which success will ensure sustained investment and development in Romania from the small Island of Malta. WWW.TRANSILVANIABUSINESS.RO

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MURES INDUSTRIAL PARK, FUTURE OPPORTUNITIES Mures Industrial Park is running successfully for more than 10 years now. Within companies operating here, there are about 1,700 employees, there are premises for a growing number of investors in the upcoming period, on the industrial site near Transylvania Airport.

ures Industrial Park started operations on 18th of November 2005. The entire infrastructure established then, passed into the public ownership of the Mures County Council, and it is managed by „Parc Industrial Mures S.A. company. The number of service contracts increased gradually, so, that now 1,700 employees work in Mureş Industrial Park, 18 concession contracts are signed and 11 companies are active. The Park companies are working in various fields from wood processing to automotive, from industrial painting to printing on textile, companies with different services to industry. The largest company with the most employees is Hirschmann Romania. At the moment there are still available 6 ha in Mures Industrial Park for those companies that want establish their activity here. About the origin of potential investors, park director, Nagy István, states: „Anyone can come to Mureş Industrial Park, whether it is about production or services, but it should have nonpolluting activity. We established that the area to be used is a minimum of 1,500 sq m. As a general rule, the investor should decide from day one if he buys or not the land. If the investor doesn’t want to buy, we have a table of evaluation criteria, the amount of investment, number of jobs created, the technological level that he brings to the Park, these points that have the most importance, and according to these, we establish the royalty which is between 0.25 and 1.8 euro/sqm/year. Those

Mures Industrial Park Vidrasau platform - Ungheni Mures County Phone: 40265-433620 Fax: 40265- 433 632 E-mail: office@industrial-park.ro Website: www.industrial-park.ro

The most significant forms of facilities and incentives are: Wage subsidies for hiring unemployed, graduates, and people with disabilities. Facilities granted for training and retraining. Domestic and European Union grants (e.g. for infrastructure investment, for innovative development). The opportunity to immediately occupy the parcels, the dimension of which depends on the necessities of the investors. Providing complete infrastructural support for industrial activities, (access roads, water supply, electricity supply, gas supply, sewerage and telecommunications) within the industrial zone. Tax incentives: exemption from tax provided for industrial parks under the law: no fees for land or buildings, as long as the investor is located in the Mures Industrial Park.

who wish to buy the land, sign a concession for five years. The price is negotiated depending on the size of the investment, the amount of the investment, technology brought, and the number of jobs created. Whatever form of property one has, charge of administration is 1 euro/ sq m/year, which includes a range of services, from cleaning, lighting, perimeter security, etc”. The two new concession possibilities, namely concession with diminished/reduced amount, and concession followed by sale of the land, make Mures

Industrial Park to be among the most attractive industrial parks in Romania. Mures Industrial Park has the necessary utilities infrastructure (electricity, gas, water, sewage treatment plant, sewer, fiber optic telecommunications network, access to E60, and the future highway). Since 2008, a business incubator operates in the Mures Industrial Park, and, this is a project of Mures County Council in collabouration with UNDP, through which many companies benefited for strong support to a good start in business. WWW.TRANSILVANIABUSINESS.RO

INDUSTRIAL

NEW MILESTONES SET FOR P3 IN ROMANIA P3 Logistic Parks (P3) is a specialist owner, developer and manager of European logistics properties. Active throughout Europe, P3’s asset base comprises P3 Bucharest - the premier logistics park in Romania. Blake Horsley, Country Head P3 Romania, underlines the potential for new developments.

hat are in your opinion the key strengths of P3 Romania? We are investor developers, building logistics properties that we can keep in our portfolio for the long term rather than selling them on to someone else once they are finished. This creates a different mindset. We build to last, investing in higher quality buildings and with a commitment to using energy saving and environmentally friendly technology to reduce operational costs. This undoubtedly benefits our customers. We have also made customer service a priority, working closely with our occupiers both during planning and construction of a new facility and afterwards, to ensure that the buildings they occupy continue to meet their needs over the course of the lease rather than just at the beginning. This allows us to retain occupiers, helping them when they need to expand and use our panEuropean presence to provide them with the same quality of building and service as they move across borders. In Romania, we have reached 300,000 sqm of built space in 12 warehouses at P3 Bucharest park, which has a number of key strengths, including an highly accessible location only 13 km from the city centre and buildings with an 11.5 m clear height, higher than the majority of the industrial stock in Bucharest. What are the advantages offered by the pan European platform of P3 in relation to future clients and partners? We have a number of customers that have chosen to occupy P3 buildings in several different countries. Our clients know and trust us, so they look for the same level of quality across Europe and the knowledge that we will deliver. We have a presence in 12 countries with local offices in nine of them. Almost 40% of our customers are located in more than one park and our integrated team structure means that we can bring the experience of their

requirements from one building to another, even if it is in another country. One of the main advantages that P3 offers international occupiers is this type of integrated logistics solution, the P3 standard that they will receive in terms of the construction quality and operation of the building, the commitment to reducing their operational costs, the outstanding customer service and access to our management resources. How does the important milestone of 300,000 sqm of built space in P3 Bucharest impact the market? P3 Bucharest park is the premier logistics park in Romania. It’s in the prime location in the country. Reaching 300,000 sqm is a testament to the quality of the product and the location. It is now P3’s second largest park in Europe and our tenants are of the highest institutional standard. How would you highlight the perspective for future growth? A recent survey of our customers shows that almost 100% expect their businesses to grow over the next two years and that they will need additional space. This is excellent news for both our park and, as our clients include some of the top retail and logistics providers in Romania such as eMAG, Carrefour, Altex, Tibbett Logistics (Auchan) and FM Logistic, it’s a good sign for the Romanian economy in general. What are the main accomplishments of P3 Romania in the first half of the year? The main accomplishment is the historic milestone of achieving 300,000 sqm of built space at P3 Bucharest park. Since the purchase of the park at the beginning of 2015, we have completed 85,000 sqm of new space. Another important achievement is the construction of the new 42,800 sqm warehouse that is scheduled for completion this summer and will be fully let upon completion.

What are the challenges for a developer and manager of logistics properties in Romania? One of the main challenges is the lack of motorway infrastructure that affects our business and the businesses of our customers. However, we are seeing significant improvements being made which we believe will further strengthen the market in Romania. What are P3’s objectives for 2016/2017? Our most immediate objective is to focus on achieving 100% occupancy at P3 Bucharest Park – which we hope to do by the end of the year. Longer term we would consider expansion in the Bucharest area and also in Central and Western Romania. 73

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NEW OPPORTUNITIES: ALBA NOW, BIHOR NEXT Two companies are investing in association to develop two new industrial parks, in Alba and Bihor counties. Alexandru Boghiu, project manager coordinator Ascom highlights the advantages of the projects and the strategy to attract investors.

hich were the arguments for Ascom and Aloref to start PIOM project? Ascom has worked directly with local producers with the aim of sustaining Romanian industries and their production sites, since it was established in 2003. We had a very good collabouration with UPSOM (Ocna Mures Soda Plant) and therefore we were aware of the problems that the plant was facing. For various reasons (mainly financial problems) the factory was closed in January 2010. Considering that Ocna Mures was a mono-industrial city, this had a negative impact on the areas’ inhabitants. Following UPSOM entry into bankruptcy, the liquidator Transylvania Insolvency House organized a tender for realization of the asset with the outcome of transforming this chemical platform into an industrial park. In these conditions, Ascom along with Aloref have formed a partnership, participated at the tender and acquired this location. In 2015, PIOM has been licensed industrial park. Ascom key challenge is to sustain the development of industrial sector focused on production activities in the undeveloped areas of the country. What defines the concept and current status of the project? Considering the position of PIOM in the heart of Transylvania, close access to highway and railway within the premises, natural resources of the area and also the skilled workforce available, we believe there are possibilities for various industries. Moreover PIOM offers essential facilities such as high voltage electric power, industrial gas pressure, water source from Mures river, industrial sewage, storage for non dangerous solid materials on 52 million cubic meters (70 hectares), etc. Another important aspect is the endless underground resources of salt. Currently our target is to attain investors by renting or selling plots depending on the investors’ requirements. There are also different size warehouses on site ready to be rented. We are flexible and open to work with our future partners on different settings in order to develop a long term relationship. 74

How would you characterize the potential of the city/region for attracting new successful investors and developments? First of all we believe Romania is a country with immense potential for both local and foreign investors focused on production activities within the industrial sector. Since we have started the operations in Ocna Mures, we conducted a study on the area demographics. The outcome of the study showed available workforce ready for a new workplace. Also local authorities are very much involved and

support our project offering several facilities to future clients such as tax exemptions. The county is in a process of development with infrastructure projects that are advancing slowly and the ongoing construction of a new highway just 7 km from PIOM will link the industrial park to important cities such as Cluj-Napoca, Tirgu-Mures and Sibiu. Our focus is to attract Romanian and foreign investors that can benefit from the facilities available in order to revive the industrial sector. We are also focusing on licensing MIPO as industrial park in 2017.

Ascom and Aloref are partners for both PIOM (Ocna Mures Industrial Park) and MIPO (Metropolitan Industrial Park Oradea) projects. Aloref is a company experienced in scraping iron with good history in Transylvania. The team is formed by professionals with good knowledge of the local market. The next project located in Oradea, MIPO - Metropolitan Industrial Park Oradea started this year in January. The surface is twice the size compared to PIOM and it also provides key facilities for manufacturing activities. Located on the city’s highway belt, it is easily accessible. Our short term objective is to obtain the industrial park license for MIPO and to prepare the location for Romanian and foreign investors. We support Romanians to start production activities and also foreigners to open manufacturing or assembly units in our country. Both locations Oradea and Ocna Mures facilitate exports to European countries with accessible transportation mainly for Western Europe. WWW.TRANSILVANIABUSINESS.RO

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INDUSTRIAL NGB CONSTRUCTION & MANAGEMENT

INTEGRATED PARTNER FOR DEVELOPMENT ‘’Despite its large portfolio of real estate and other activities, I would define NGB as a boutique real estate firm, with a primary focus on the industrial sector. We are committed to develop and add value to our assets and we have a very hands on and long-term approach with our clients and their needs. I believe that this, combined with our ability to offer as a company, flexible solutions to our clients, has proven to be very significant in our continuous and steady growth’’, Nicholas Bouri II, country manager of NGB underlines the key trends for the market and investment opportunities.

hich are the main accomplishments of NGB in the first half of the year, your objectives for 2016/2017? NGB Distribution Center continues to prove its success to the market, and that the SW ring road of Bucharest is important and will play a significant role for the industrial market as the works to rehabilitate it will continue. In 2016, we were focused on promoting and developing phase II of the NGB Distribution Center. We secured an additional 3,000 sq m with an existing tenant of ours. Another accomplishment this year is that NGB acquired a majority stake in an office building in the north suburb of Bucharest. Our objectives for 2016/2017 are to continue developing Phase II of the NGB Distribution Center, a total built area of 12,000 sqm of A-Class warehouses will be begin in Q4 2016. We also plan to begin development of a small luxury residential building in the north suburb of Bucharest, also planned for Q4 of 2016. Which are the challenges and opportunities for a developer and manager of industrial/logistic properties in Romania and CEE, which are the key sectors characterized by positive growth, taking in consideration the clients of NGB? The main challenge we have faced in recent years is service clients looking to relocate in a very short period (1-2 months) because they did not plan ahead of time. Modifying or developing a building takes time, especially when a client has specific requirements. Modifying or developing a building takes time, especially when a client has special requirements. In 2016, as the new fire regulations/requirements were put into effect, we saw many companies requesting to relocate from their existing location from sites where owners would not or could not invest in updating their existing facilities, giving our facilities the opportunity to provide them with solutions.

I believe that the Automotive industry is still one of the most important sectors in Romania. From new entries in the market, we have seen a growth and mainly a interest from international companies looking to relocate or set up their production facility in Romania, within proximity of Bucharest or Timisoara. What is your outlook regarding the potential for Romania to maintain increased interest for foreign investments? I believe that Romania is doing a good job at maintaining interest from foreign investors, specifically in regards to production. Today, unlike other EU countries, Romania’s infrastructure is still in poor condition. I believe that once they restart of developing the country’s infrastructure, Romania will become an even more strategic/beneficial destination for the industrial market than it already is. How do see the evolution of the real estate/investment market in Bucharest, and potential regional hot spots for new developments/investments? I believe we will see continuous growth in the industrial real estate sector. Romania has proven to be a safe and steady market for logistic, distribution and production companies. Bucharest, Arad, Cluj and Ploiesti are the only regional areas NGB will be focusing on in the near future, taking into account available infrastructure, workforce, logistics and electrical capacity.

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INDUSTRIAL

DEVELOPER ARTEMIS - NEW STRATEGY Artemis Real Estate is the Romanian subsidiary of the Swiss group Artemis Holding AG. The company owns over 125 ha in Timis County with focus mainly on industrial purposes. Artemis offers the best operational and development conditions for companies which decide to settle down to the Western part of Romania. M.A, MBA Adriana Cioca, Development Manager Artemis Group Romania, sums up the plans for 2016/2017.

hich are the main characteristics of the new business model of Artemis in Romania? Which type of advantages are available for future clients and partners? We have implemented the transformation process of our activities in Romania by changing the company strategy in the last year and moving from the investor position to the developer position. We would like to offer to our tenants` Swiss quality through our modern industrial projects and to be closed to them for all their needs. Another advantage is the strategic position of our parks, very close to the Hungarian border and to the motorway connection, as well as the easiest supply for the Western - Central side of Romania. Tenants in our parks can take the advantage of our ‘’Industrial Park Certification’’, granted by the Ministry of Development, by paying a small service charge, as well as they are having the possibility for attracting state aids, Minimis aids, as well as European funds for their production facilities, for further growth of their business. We choose carefully all our partners to whom we wish to develop the business and we are successful all through a respectable open and trustful relationship. We are focusing on renting, financing and also selling our plots including tailored made facilities and infrastructure. Which are in your opinion the strengths of Timis area, and also the key attraction factors for the real estate market in Romania? Timis County has been developed very well in terms of infrastructure and the attraction of many logistic companies still exists due to the proximity of the highway. We noticed the appetite for the Western European companies which relocate their activities or open new units in the Eastern countries, due to the reduced cost of production and cheaper labour costs. The Romanian real estate market, in all its sectors, is very attractive for the foreign investors by having a stable political governance. Romania is today a safe country with an improved fiscal system, and with a significant rate of economy increase in the last years. Romanian market offers a wide range of opportunities, still open to be exploited and explored by the investors. This represents a positive matter, first of all by applying their modern know-how and delivering the state of the art buildings and second of all, by offering to the Romanian customers` qualitative products, through their appetite for new modern and intelligent products and the accomplishment of all their needs. Which are the main accomplishments this year and your objectives for 2016/2017? For 2016 we have analyzed all our investments and we moved forward our activities on each project which is in our ownership. We finished in Sananadrei the entire infrastructure of the plot and we were successful in 78

negotiating the contract with our tenant for 10 years’ time period and as a consequence of this, we have executed a contract with our construction partner, as to deliver a state of the art warehouse ”turnkey” at the beginning of 2017. We have invested together with one of our partners in 40 hectares of industrial land, for which we have worked on the Master Plan and technical urban plans, as well as the development of the infrastructure. In parallel, we have in our focus the development of other projects from our portfolio, such as Giarmata project, for which we are in the procedure for obtaining officially Industrial Park Title Certification, Dudesti project, on which we are working on the technical design plans for infrastructure or Timisoara Airport plot project study, for which we have created the concept and the business plan and now we have already started with the predevelopment phase: feasibility studies and data collection as to have a better confirmation of our business ideas, before entering into the development phase. We are open to invest more on the Romanian market, therefore we have under our analysis other opportunities. I hope 2017 to be at least as much challenging as it was 2016 and to show good results for all our Artemis activities in real estate in Romania. WWW.TRANSILVANIABUSINESS.RO

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INNOVATIVE PRODUCTS IN THE AUTOMOTIVE INDUSTRY Hirschmann Automotive shapes progress in the automotive sector every day. The specialities: connectors, contacting and sensor systems as well as special cable assemblies and overmouldes technology. The group has already two plants in Romania and is an example of success in Mures Industrial Park. The managing director, Traian Virgil Roman: ‘’Hirschmann Romania proved to be a trustworthy partner for customers and the group’’.

n retrospect, which were the strategic arguments for developing the company in Romania, why in Mures? In 2007 Hirschmann Automotive was in a growth cycle considering the products and new markets and also from a strategic point of view. So, the decision was to identify new labour market areas in Europa, and Romania represented a good candidate due to the availability of labour force, competences and labour prices. In the Mures Industrial Park, the company could find all the aspects important for us (being situated in an unexploited workforce area – no major company on a radius of 100 Km ) and extra was strategic positioning - at the crossroads of major transportation ways, E60 road, railway, airport and the new planned A3 highway, all in minutes of reach. Being close to Tirgu Mures we could benefit also from the highly educated personnel due to the schools and the Technical University of Targu Mures Which were the challenges at the beginning? At the beginning some aspects that offered advantages came also with a price tag. Being the major investor in the area we had to identify and create the network of business partners, especially for services. Also, in terms of training of personnel we had to develop our own system. Being in an industrial park gave us the advantage that we could benefit of the facilities offered by such an organization in dealing with the authorities, business partners and labour market. I could describe it by the sentence that the power is in numbers, meaning that if your are alone it is much harder to deal with all challenges you face in an economical environment such like the one in Romania. How would you define now Hirschmann Automotive Romania? After 9 years, Hirschmann Romania is a mature company with a well founded position in the automotive business which offers an professional work environment and quality products for automotive and renewable energy market. How significant is the contribution of the plants in Romania to the business of the group? Currently, the plant from Romania is the biggest organization, from the Hirschmann Automotive Group, with more than 16,000 square meters used for production and almost 2,000 employees. Also, we continue to expand our competences with new processes supporting the group activities (a tool shop area where we produce the molding tools, a product validation labouratory) and competences from the plant are promoted at the group level in Austria. Considering the revenue margin, Hirschmann Romania is a major contributor to the group growth. With an open and a transparent attitude Hirschmann Romania proved to be a trustworthy partner for customers and the group. 82

The thirst for knowledge and the attitude focused on continuous improvement represent the key strengths of our organization. Which are the main accomplishments of the company in the last two years, your objectives for 2016/2017? How about new investments – and the impact for your business? In the last two years the company did what it knows best, that is to develop and improve. We expanded the production facility by acquiring and refurbishing a new production area of 10,000 square meters. By now, 85% of the area is used with production lines from mirror harnesses to special assemblies and photovoltaic products. Because we are focused also on our employees’ comfort and safety we had built at site from the industrial park a new buss station and we start to build a new access gate. Also, we are investing in a new connection to the electric energy network for an increase of power needed for the future projects. In the next years, beside the investments in new equipments due to the growth of the projects, we will focus in optimizing the office space and the access gates and increase of the electric power for the plant situated in Sanpaul. WWW.TRANSILVANIABUSINESS.RO

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What is your outlook regarding the potential of Romania to maintain increased foreign investments, and how about Mures county? Romania still has the potential to absorb investments in the future, and for that we have to accelerate the development of a good infrastructure, the connectivity with the rest of Europe (highways, railways, etc), we have to create a more transparent and easy methods to understand financial policies, to eliminate bureaucracy and help the employers in retaining the labour force. Also, I strongly believe that encouraging the local investors will create a balanced and stable economical environment from which the foreign investors can benefit. Mures county, and especially Mures Industrial Park, are positioned in a strategic place, in the middle of the country near the major transportation ways, university centers and a big reservoir of working force.

What is needed now is a vision for the future and a clear strategy for the sustainable economical growth. What kind of CSR programs/employees benefits programs is the company implementing and helped its development and the local/regional community? Being a production facility, the human workforce is the most important resource, and for that we created a system for motivating and supporting our employees at work but also at home. We are a constant presence in the community with different activities in supporting the employees with information, health programs, supporting with office supplies when the school starts for their children, fundraising in case of calamities. This year the company made a donation in form of a fire and emergency situation truck for the village nearby, Sanpaul.

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LEADERSHIP IN SUSTAINABLE DEVELOPMENTS Ivan Lokere - CEO, Christophe Stroobant - Business Unit Manager Romania and Marcel Constantin - Manager Finance & Administration Romania at Alinso Group highlight the key elements of the strategy for the continuous development of Ploiesti West Park.

hich are in your opinion the key strengths of Alinso Romania and the advantages offered by the international platform and connections to Belgium of Alinso, in relation to future clients and partners? The key strenghts of Alinso Romania are the ONE STOP SHOP concept and a fast delivery of the building that allows our clients to be „Care Free” and focus on their core business. One of Alinso Group differentiates itself compared to its competitors due to its high flexibility in the design, both before and even during construction. To develop, deliver and maintain efficient and future proof business space is our mission. Ploiesti West Park is one of the projects which is a result of this: energy efficient buildings on a park serving a wide diversity of industrial and logistic clients. Alinso Group created a strong business community within Ploiesti West Park and has facilitated the collabouration between different companies. Ploiesti West Park is located very close to Bucharest and only 40 km away from Otopeni airport, Ploiesti benefits from its ideal combination to be close to the capital, benefitting from an optimal infrastructure and connection to the other parts of the country and South Eastern Europe and an affordable labour cost and very well educated people thanks to the technical university in Ploiesti. (IL) How would you describe the evolution of the Ploiesti West Park, which were the key ambitions, the corner stones? PWP developed from greenfield into a renowned business park who delivers premium business space to more than 50 companies. Currently more than 2,500 people work on a daily basis in Ploiesti West Park. Our ambition is to continue to deliver modern future proof business space in line with the changing needs of our customers. Our main corner-stones are flexibility, sharp delivery, One Stop Shop concept including top quality park management and services. (CS)

Christophe Stroobant, Ivan Lokere, Marcel Constantin - www.alinso.eu

Which are the main accomplishments of Alinso in 2015/2016, your objectives for 2016/2017? Alinso Group designed and is currently building a new multi-tenant building of 9,000 sq m that is already fully occupied. During 2016 we welcomed three new production companies in PWP and developed a built to suit project for Saipem Group on a surface of more that 40,000 sq m. With a strong pipeline and projects that will be finalized in the near future, we will continue the growth of PWP at the same pace or even higher pace as in the past: now that we reached a critical size more and more companies prefer to benefit from the quality and unique atmosphere in Ploiesti West Park. (CS) Which are the challenges and opportunities for a developer and manager of logistics and industrial properties in Romania and CEE? We see that the same flexibility that we express as developer and park manager, reflects in the business model of our clients. Not only to offer the „full package” but also to listen and adapt to the needs of the clients. We see that more and more customers want to fully outsource their business space needs in a flexible, qualitative and cost efficient manner. Alinso Group and Ploiesti West Park have both the track record and capabilities to answer to this need. (IL)

What is your outlook regarding the potential for Romania to maintain increased foreign investments? The agility and flexibility of the Romanian people, the technical skills and the growth and further development of the infrastructure and the political stability will further attract foreign investors to Romania.(MC) Do the acquisitions and projects launched by other developers impact the market? Are you considering developments in regional cities, elsewhere in Romania? The fact that other developers come to Romania is the proof that there is a lot of demand and many developers see the potential of Romania. Every new end customer in Romania, whether it is through Alinso or another developer, brings value to the country. Every new customer brings directly or indirectly new customers. Alinso Group has the capabilities and ambition to develop also in other regions and cities of Romania. (CS/MC)

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PERFORMANCE OF DÜRKOPP ADLER ROMANIA With a turnover of over 10 million euros last year and quality products Dürkopp Adler Romania is a landmark in the global market of sewing machines. The company, which operates in Mures county, also saw growth in transport systems, so-called conveyor belts, where accuracy and the level of technology are important strengths for the company.

he secret of Dürkopp Adler Romania success is easy to decipher: professional management, open to solutions that permanently increase productivity and a valuable team able to assimilate the most modern methods of work in fine mechanics. As a result of the large investments made, the Mureș county business’s productivity doubled in the last two years. The company’s turnover exceeded 10 million euros in 2015, and, 2016 also seems to be a good year. Main production consists of wear parts for sewing machines, sewing kits, bobbin cases, and knives. Both in bobbin cases and in knives, Dürkopp Adler is Europe’s #1 in terms of quantity and quality. To ensure the highest quality of the parts, Dürkopp Adler Romania has invested a lot in measuring and control equipment. For example, based on computeraided design files, after measuring and/or scanning the product and making a 3D image, the product is computer-analyzed, with results of order thousandth of a millimeter. Considerably increasing productivity, through the acquisition of new, high productivity machines, there was no need for a substantial increase in staff, in the recent years. However Dürkopp Adler Romania has between 340 and 360 employees, with minor f luctuations, according to needs. A second important object of the Dürkopp Adler Romania is the production of transport systems, so-called conveyor belts. Technical advice for the partners and the complex solutions for accessing funds and modernization of the businesses come bundled with performant and efficient transport systems made in the factory in Mures county. Through the foreign partners, Dürkopp Adler Romania is working, in this segment, for the big auto industry

and large companies in the food industry. At Sangeorgiu de Mureș factory, Dürkopp Adler builds systems for companies in the beer industry, metallurgy, furniture industry. The company offers its own solutions that are optimized to the needs of each client, fact that is appreciated by the partners. 2016 is a good year for Dürkopp Adler, continuing the growth trend in recent years. In the last four years, total investments made by Dürkopp Adler amounted to over 4.7 million euros, of which investments in machinery and equipment 2.9 million euros. The financing of investments was made from own resources, financial and operational leasing.

„Currently we produce almost exclusively on computer numeric control machines, we almost exclusively use programming through digitization, the measurement of products is made by digitization, NC, in order to keep the influence of human error at a minimum. Qualified staff is hard to find on market, especially the programmers or adjusters, which are key personnel, but we tried to allure, through various facilities, the existing workforce on market and we tried to train this personnel”, states Johann Hermann, general manager Dürkopp Adler Romania. WWW.TRANSILVANIABUSINESS.RO

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INNOVATIVE SOLUTIONS FROM ROMANIA TO CEE Active in the supply of electrotechnical components and services to “Industry”, ES Elektro Romania is expanding on the Romanian market, servicing international and national industrial clients, with the aim to become market leader. ES Elektro Romania is a member of the International itsme group of companies, an abbreviation that stands for Industrial Technology and Supply for Mechanical and Electrical. The group covers Belgium, Germany and The Netherlands. About experience and practical understanding of electrical engineering and logistics in Romania with Rolf deGraaf, general manager ES Elektro Romania…

S Elektro Romania distinguishes itself on the Romanian market by bringing innovative and proven solutions to industrial customers that have specific needs and requirements for the supply of electro technical components, and systems, as well logistic solutions. All this supported by in-house developed applications in SAP. In retrospect, which were the strategic arguments for developing the company in Romania, why in Cluj? The word strategic is often misused or used to give an impression of ‘well thought of’ or ‘deliberate’. The fact is that many successful companies have or have had the flexibility to amend or update their strategy ‘as required’. Strategy also has to do with recognizing opportunities and maybe even the factor of luck. Being in the right place, at the right time, in our case, the overriding factor was a request from one of our major clients to follow them to Romania as their trusted partner. Which were the challenges at the beginning? The main challenge was, and still is, to find the right people. However this challenge exists everywhere in the world and is not specifically ‘Romanian’. I do recognize a different and swiftly evolving ‘mindset’ from staff, suppliers and customers alike over the years. People in general are more open to taking responsibility (if you give them this responsibility) and there is a clearly better attitude and approach to ‘improvement’. Our industrial clients have started to embrace our expertise not only in distribution of electrical materials but also in the field of services we offer in logistic solutions, industrial lighting and industrial automation. In my opinion, that is the biggest advantage of our initial investment. 88

How significant is the contribution of the business in Romania to the business of the group? Our operation in Romania contributes very positively to the itsme group – a group of companies active in 5 different European countries. In terms of turnover and revenue our contribution is still relatively small – but that is no surprise considering the total volume of the group (in access of 200 million euros). Very positive is our belief that we can continue realizing significant growth in Romania and that ES Elektro Romania is already for a couple of years ‘self supporting’. We

are seen in the group as an enthusiastic, knowledgeable and ambitious group of young people (except myself!) that serves as an example for other group companies in other foreign markets as Germany and Spain. Which are in your opinion the key strengths due to the fact that is part of itsme network in relation to clients and partners? We have established ourselves on the Romanian market as a reliable partner with specific expertise and a product portfolio exclusively for ‘industry’. There is no doubt that being part of the itsme WWW.TRANSILVANIABUSINESS.RO

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group enables us to source any product the client requires. Also, the fact that we can offer international clients ‘global pricing’ is a strength originating from being part of an international group. At last, the exchange of knowledge with colleagues in other countries, especially in the field of industrial automation and even referring clients to our headquarters in the Netherlands for complicated issues in this field is clearly an added service that clients appreciate. Which are the main accomplishments of the company in the last two years, your objectives for 2016/2017? How about new investments, expansion plans – and the impact for your business? Anyone, entrepreneur, CEO, management or staff who mentions his or hers company’s accomplishments does not understand that is it completely irrelevant what his or hers opinion is. It is the client whose opinion counts and who determines our accomplishments. The main challenge, not only for us but for all businesses, especially businessto-business, is to be of real value to the client. Once that is accomplished, the even bigger challenge is to continuously improve and keep adding value to the client. But if you insist to mention the main accomplishment: it is our team. All of them are dedicated people, willing and eager to learn and to do the best

possible job. We are in the process of building our own offices and warehouse space. From that new location we hope to create an even better work environment for our people. What is your outlook regarding the potential for Romania to maintain increased foreign investments, and how about Cluj county? With some regularity I attend international business meetings, meetings where the municipality meets international business and all sort of networking events. It always strikes me

EU rules and regulations etc. And although the usual mentioned issues are not untrue, there are definitely other places, and maybe even better places than Romania or Cluj, with regard to young, well educated workforce etc. The outstanding thing in Cluj is that here, the mayor, is genuinely interested or at least so he seems, to ‘make things happen’ and improve matters. I do however stress the fact that not one man can change institutions, services and efficiency and effectiveness. An overhaul of the public sector is needed for extending the services to businesses and

that almost everybody always says more or less the same. Things as: young, well educated workforce, multilingual, good infrastructure, competitive salary scales, green city etc. Foreign investments, and by the way also domestic investments, are based on a multitude of different factors. Many of those are not within ‘our control’. To name a few: global economy, political (in)stability, new

citizens, and that will take some more time. But at least there is a leader who recognizes the need for positive change. Romania is a beautiful country, Cluj is a nice, vibrant city and life in general is good here. Not a lot of ‘aggression’, hardly any social unrest like in Western Europe and a younger generation that seems to be eager to succeed in whatever walk of life.

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TETAROM - A SUCCESSFUL MODEL FOR ROMANIA & CEE Tetarom Industrial Parks are showcasing one of the most accomplished business models in Romania, these have also marked a victory for the economy of Central Europe. This year, Tetarom SA celebrates 15 years of activity, years full of experience, hard work and accomplishments!

n 2001, Cluj County Council and the current general manager, Viorel Gavrea, founded the company. Tetarom Industrial Parks Cluj are the biggest operational industrial parks in Romania. Names like Nokia, Bosch, De’Longhi, Emerson, Karl Heinz Dietrich, EnergoBit, speak for themselves when it comes to mentioning major clients. With a portfolio of four industrial parks (Tetarom I-IV) and a Science Park (Tetapolis), with over 2.8 million square meters of land dedicated to investments, over 70 clients, a value of investments of over 500 million Euros and more than 6,000 jobs created, we can definitely say that Tetarom Industrial Parks aims for Excellency! Tetarom’s story started with a single park, the one called today Tetarom I. Nowadays, TETAROM SA has under its administration three industrial parks, builds another one and a science park: Tetarom I – 32 ha - extended this year with four more buildings; Tetarom II - 12 ha - fully occupied; Tetarom III 154 ha – 80% occupied; Tetarom IV– 85

ha – under construction; Tetapolis - the first science and technological park in Cluj-under development. “The success of the industrial parks Tetarom and the fact that they attracted high-rank investors such as: Nokia, Emerson, Bosch, Karl Heinz Dietrich, Banca Transilvania, Agressione, EnergoBit and Brinel, prompted the Romanian Government to try and implement this model overall, and we are honoured by this action”, states Viorel Gavrea. Ever since its launch in 2001, Tetarom picked up a fast pace in its development. Currently, it administers over 2.8 million square metres: land, office space, production halls, logistic parks. Some of the investments in the industrial parks were also supported with the aid of the government, thus Romanian authorities were able to provide financial aid in agreement with the European legislation. The companies located in the industrial parks are also paying the lowest tax rate required by law: 0.25% (local tax). Tetapolis is also a generous project still under development: the first science and technology park in Cluj-Napoca. With the aid of IASP (International Association of Science Parks and Areas of Innovation) and Cluj Universities, this could be the pinical of Tetarom’s accomplishments. Tetarom model remains one of the best among business

infrastructures, because it started as a pioneering one, a bold, daring vision of a man who believed in a dream, embraced and supported by local/ regional administration.

Some of the top investors of the three parks are: Emerson (electrical engines), with an investment value of approximately 200 million Euros, which in turn generated over 2,500 jobs; De’Longhi (house appliances), with an investment of 32.5 million Euros, which created over 700 new jobs; Bosch (auto components), with an estimated investment value of 77,4 million Euros and over 1,200 jobs; Karl Heinz Dietrich (logistics), with investments of 18 million Euros and over 80 jobs; Banca Transilvania (IT - Data Center), with an investment value of 10 million Euros and over 400 jobs; Agresionne (office supplies); EnergoBit (energy), Brinel (IT), etc; Transilvania Constructii (developer); Il Caffe, etc. (coffee and tea production). In total, the investment value of the three parks amounts to over 500 million Euros, while the number of jobs created exceeds 6,000. WWW.TRANSILVANIABUSINESS.RO

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WDP Romania 1 Baia de Arama Street, 022204, District 2, Bucharest T: +40 312 257 116; F: +40 312 257 116 Valentin Stanciulescu: +40 730 092 701 info-romania@wdp.eu www.wdp.eu

INDUSTRIAL PARKS & WAREHOUSES WITH BRAINS “2016 was a good year for WDP. New projects secured, extension of existing ones, interesting requests in pipeline - the Romanian market is becoming more and more attractive. The economic growth and social stability encouraged local and foreign investors starting or further developing their businesses here. WDP will strengthen its position in the proximity of Bucharest and will continue the expansion in Transylvania with projects in Cluj, besides the ones in Sibiu and Brasov. Other areas will follow… “.

DP doesn’t rest on its laurels and is always on the lookout for new opportunities to expand its existing portfolio. To offer yet more creative solutions. To meet

requirements even quicker. To be better than the best. Among our clients in Romania, you can find top worldwide brands (automotive, manufacturing, distribution, logistics, transport etc.):

Roechling Automotive, HP Pelzer Pimsa Automotive, Yazaki, Roquet, Federal Mogul, ILS Inter Cars, Siemens, Faurecia, DPD, Quehenberger Logistics, KLG, eMag, Bekaert Deslee.

A market leader, expansion in Romania

WDP Industrial Park Pitesti - Oarja

WDP (Warehouses De Pauw) is the market leader in Benelux and a major global player through its efficient customized services of development, letting and management of logistical and industrial properties, with a portfolio of more than 3 millions sqm of warehouses, distribution centers and industrial spaces in Europe. Our home market is the logistics axis of Rotterdam - Antwerp - Brussels Lille - Paris, but we look beyond these borders. More and more of our West European customers are active in Eastern and Central Europe, another logistical heart of Europe. That’s why WDP is also building up a strategic 92

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INDUSTRIAL portfolio now in Romania, another gateway to Europe, besides the region Le Havre - Hamburg. And, as always, WDP selects the top locations all over the country where our integrated team delivers projects that are tailored to the needs of the user. In Romania, on an overall area of more than 200 hectares, WDP is developing a strategic portfolio of logistic and industrial parks (that grant land and building tax payment exemptions for tenants), with direct access or close to the highways and main roads. The company secured also a financing line for future developments in Romania from the European Investment Bank and, depending on the size of the project, can follow the client in areas in which it is not yet active.

Are you looking for a warehouse, distribution centre or suitable production space? Or does your company want to outsource its real estate to focus on core activities? Whether you need a traditional warehouse or cross-docking, pharmaceutical or cold storage facilities, a GDP or TAPA certified warehouse, a data warehouse or any other type of storage facility, a builtto suit production hall etc., each space delivered by WDP is unique. We make sure we understand your operational needs. But we offer much more than creativity and permanent solutions: sale and rent back operations; direct acquisitions; renovations; redevelopments; developments; assets with development potential over medium-long term; refurbishing existing buildings; innovative use of the available space. In such a competitive market environment, WDP is driven by the one stop shop principle: builtto-suit, financing, development, construction, facility and property management. In short, everything about WDP is added value. WDP is a

transparent stock exchange company with great financial clout. Joining forces with WDP means choosing a long term relationship. We are industrial real estate specialists. We combine a strong in-depth knowledge of the market with years of experience. We think before we act. Expect nothing less than flexible and tailor-made answers to your problems, every time. Our activities, our values and the family character of our company are the hallmarks of our commitment.

root causes: on one side, WDP as an organization is interested in contributing to sustainable regional development in Romania and on the other side to offer our clients lower maintenance costs and a very attractive price for the produced green energy, which under the current market conditions is an important asset in front of our competitors.

Energy As a long-term investor in industrial property, WDP is aware of the important role it plays with regard to the environment and community life, and accordingly feels it is critical to enlarge its portfolio in a responsible way. WDP continuously provides wellinsulated buildings that, in conjunction with well-considered energy use, leads to greener warehouses, distribution centres and production spaces. Our involvement in renewable energy (pv panels on top of the buildings, pv ground parks etc.) and BREEAM certified projects has two main

WDP Industrial Park - Rm. Valcea

Dynamic warehouses

WDP Industrial Park Brasov - Codlea

Green Energy - PV Panels on top of buildings

Who is WDP? • Established in 1971 • Own, develop and manage logistics and semi-industrial property • Market leader in the Benelux region • Countries of operations: Belgium, the Netherlands, France, Luxembourg and Romania • more than 3,000,000 sqm of A class space in portfolio • WDP has been listed on the NYSE Euronext stock exchange since 1999 and Euronext Amsterdam since 2015 • WDP major benefits: cross-border solutions; a built-to-suit solution; a one-stop-shop solution; your facility stays in the WDP - portfolio after realization, facility and asset management being provided by WDP; higher technical quality; smart chain of logistic facilities. 93

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BREAKING NEW GROUND Several developers announced new projects in Romania driven by the demand for clients. Regional market is attracting more investments, an increasing number of developers adding speculative component on top of space secured through large pre-leases.

TP, a full-service commercial real estate developer and manager, specializing in the delivery and management of custom-built, high-tech business parks for leading international and domestic companies has increased its strategic investments in Romania. „A remarkable 2015 has thus far been followed by an excellent 2016 in Romania. Occupancy is rising across our portfolio. Romania’s macro numbers are on the up, and investors, like CTP, are eyeing the market for its diverse and plentiful opportunities.

In Q1, CTP strengthened its grip on the market, and we continue to register interest in space from existing and new clients alike’’, states the company in a summer report. CTP is currently constructing a 30,000 sqm facility, of which 15,000 sqm is pre-leased to logistics company OTZ in CTPark Bucharest West, the park has potential for an additional 230,000 sqm built--up area. In CTPark Bucharest, CTP is currently constructing a 15,000 sqm facility, already 100% pre-leased to clients such as Iron Mountain, DSV and Englmayer. There is approximately 100,000 sqm of planned construction in the park, which can be completed within 9 months of ground-breaking. CTP is currently preparing groundworks for a facility for an existing CTP client, who have decided to expand operations into Romania with CTP, in CTPark Sibiu and in Cluj, CTP is constructing a 19,000 sqm facility for Romanian retailer, Profi, expected completion in Q2.

New players This year marked the entry in Romania of one of the biggest investment funds in the world, Blackstone, through Logicor European platform. Logicor, Blackstone’s European logistics platform, is one of the premier real estate companies in Europe focusing on the ownership and operation of modern logistics and distribution properties. 96

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Logicor currently owns 13 million square metres of space in properties across key European markets. ‘’We see that the market in Romania has a huge potential. There are significant indicators for a recovery in the market, and the demand for high quality wearhouses is increasing. We don’t exclude the posibility to develop here the best projects in our portfolio’’, Roman Skowronski, Head of Asset Management CEE stated. Panattoni Europe, leading developer of industrial space in Poland, following in the footsteps of success in the Czech Republic and Germany, is expanding its European presence again. The developer has decided to enter the Romanian market, in response to the interest in this region from tenants as well as investors. The newly opened Bucharest branch is headed by managing director, Muler Onofrei. Initially, the company will focus on developing build-to-suit (BTS) investments, but is also planning to create its own multi-tenant logistics centre near Bucharest. Panattoni Europe’s decision to enter the Romanian market was motivated by the country’s great potential. According to Robert Dobrzycki, Chief Executive Officer Europe, Panattoni Europe: „As a developer of industrial space, we are observing keen interest in this market from our customers and prospects alike, as well as from the investment sector. We always do our best to stay close to our customers and to make sure that their business is secure as far as our operations are concerned, and that is why expanding the Panattoni Europe platform to include Romania seemed necessary as well as justified.” Panattoni Europe is part of the Panattoni Development Company, one of the largest industrial developers in the world, with operations in North America and Europe. The first Central European offices opened in 2005, simultaneously in Warsaw and Prague. Initially, Poland was the main market in the region, but for several years now Panattoni Europe has been increasing its involvement in the Czech Republic and Germany, too. In this time, the developer has delivered more than 3.2 million sqm of modern industrial space altogether in Poland and the Czech Republic (with 2.53 million sqm in Poland alone) and can boast the largest developments in Central and Eastern Europe.

facilities in Brasov and Timisoara with 20,000 sqm this year, and land acquisitions in Bacau or Iasi, for new A class warehouses. VGP Park is also located in Timisoara city which is with its 450,000 inhabitants one of the biggest and most important cities in Romania. Timisoara is an economic, cultural and university city of Banat, the western part of Romania with an ideal location not far from the Hungarian and Serbian borders. The site offers 4 buildings with an overall space of about 180,000 m2. The park is situated in the North-Eastern part of the city, not far from the international airport. The VGP park is located on an intersection of the city ring road and will also serve as a very important connection between the city and the airport. Valad Europe manages €4.7 billion of real estate assets and investment capacity across its 24 funds and mandates in Europe. With a team of 28 in Central Europe, Valad manages approximately € 870 million of assets comprising 730 tenants, occupying 985,000 sqm of space across Poland, Czech Republic, Hungary and Romania - A1 Business Park - warehouse and office space, showroom for rent in Bucharest - A1. The storage, manufacturing, offices and showrooms are located at Km. 13.5 A1 highway Bucharest - Pitesti, representing the best location to industrial, logistics and production in Bucharest. In Domnesti Business Park, Valad leases industrial buildings, warehouses and production facilities with surfaces between 200 sqm and 2,060 sqm. Rental deposits are located 100 meters from junction with Ring Road Extension Ghencea, but Valad has the intention to sell its assets in Romania.

New plans Helios Phoenix, developer of the Olympian Parks network, announced also a new project – 43,000 sq m in Jucu, Cluj county, the first phase of 13,000 sq m to be finalized this year. Florin Popescu, manager of Helios Phoenix, also pointed out this spring the plans to extend existing 97

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with the support of: www.wdp.eu

Parc Industrial Cugir 8A Victoriei St., 1st floor Cugir, Alba Tel: +40 258 750 626 +40 258 750 626 parcindustrialcugir@yahoo.com www.parculindustrialcugir.ro

ADLO Primăriei Street, No. 3 Oradea, Bihor County T: 40 359 889 389 E-mail: contact@adlo.ro www.adlo.ro

Electrocontact Industrial Group Calea Nationala no. 6 710010 Botoșani, Botoșani Tel.: +40 231 513 710 Fax: +40 231 517 172 mihaela.muraru@electrocontact.ro www.electrocontact.ro

INDUSTRIAL PARK BRAȘOV 6 Aeroportului St. Ghimbav, Brașov Tel.: +40 268 402 949 Fax: +40 268 401 216 parc@parc-industrial.ro www.parc-industrial.ro

SC NITROPARC 3 Republicii St., Făgăraş, Braşov Tel: +40 721 375 444, +40 723 140 277 Fax: +40 368 814 283 nitroparc_fagaras@yahoo.com www.primaria-fagaras.ro

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Parc Industrial Cugir was established in 2002. It has 63,000 square meters and an occupancy rate of 90%. Here operate 36 businesses that have created 430 jobs, after 362,000 euro investments. The owner is Alba County. PIC is a founding member of the innovative national cluster, the Competitiveness Pole Metalworking Transylvania, Metallcluster Siebenburgen, Cluster Metal Manufacturing Transyl vania (PRELMET Transylvania).

Oradea Local Development Agency is a public company with sole shareholder Oradea Municipality. Our core business is the administration of the industrial parks (investment in infrastructure, maintenance of infrastructure, electricity distribution). Also, we are a link between the private investors and education institutions and we offer support for establishing the business in Oradea – relation with public agencies/structures.

Botoșani Industrial Park is managed by SC Electromining SA Botoșani, an associated legal person of Electrocontact Industrial Group SA. The park is located in the northern part of Botoșani city, on DN 29B. It was created under a public-private partnership and has a total area 129,500 square meters. Electrocontact Industrial Group is the leading provider of solutions in the field of electrical distribution and control appliances, for both the domestic and industrial use.

Industrial Park Brașov offers Greenfield-type spaces for long-term rent, destined for production activities, storage and offices. The halls are executed in accordance with the specific requirements of each customer. Construction started in 2007. The total area is 39 hectares. There are complete networks of road and utilities infrastructure. Today there are 72,000 built square meters, at 100% occupancy degree, and a platform with 2,500 employees.

Nitroparc was established in 2006 as a management society for Făgăraş Industrial Park. The hardened security infrastructure of most of its administered buildings is one of the “strengths” of the location. Făgăraş Industrial Park is located in the South-West of the chemical platform from Făgăraş, on an area of 10 ha, being connected through DJ 104 C to the transport infrastructure of the town. Its closeness to the future Transylvania Motorway (about 5 km) is another advantage.

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Parc Logistic Transilvania is one of the latest projects of Transilvania Constructii portofolio. The Premium Industrial Park provides value driven solutions for small local firms to multinational companies suitable for Logistic and distribution, Storage Production or Cold Storage. Transilvania Constructii is a real estate investment and development company with a reputation acquired over 60 years of activity. We are noted in Cluj market through development activities and property management of industrial and residential projects; Our team has grown up in the industry and applies a cost effective and timely approach to the completion of each project.

Graells & Llonch Administrare Parc Industrial SA operates an industrial park at Prejmer with an area of 839,000 square meters, being one of the largest parks in the country. The park offers a wide range of investment options, because there are areas for industrial operations, logistics and retail, with surfaces between 1,000 and 21,000 square meters. Graells & Llonch Industrial Park is managed by a company run jointly by members of state institutions and private shareholders, to ensure cooperation with the local authorities.

An industrial park located in Braşov city, at the junction of the main national and international communication routes that transit Romania. The first functional industrial park in Brasov, Carfil Industrial Park comprises over 44 companies of industrial production and various services. The park area is 18,700 square meters, of which 11,000 square meters represent production and office spaces.

Metrom Industrial Park is the second functional industrial park in Brașov and includes over 14 companies of industrial production and various services. The industrial park area is 63,700 square meters, and the built area is 27,000 square meters. This is of particular interest to investors, given both its geographical location and its direct access to the technical and utilities infrastructure necessary conducting economic activities.

Arc Park is located in the town of Dej, 50 km NE of the city of ClujNapoca, on DN1C, and has an area of 40,185 square meters, being a private investment. Also, the park is located 37 km from Cluj-Napoca International Airport. The administrator company also holds a license as an energy supplier. There are two companies that are now active in the park.

Parc Logistic Transilvania 10 Orastie Street, 400 398 Cluj-Napoca, Cluj county, Bolog Alexandru – Head of leasing manager T:+40 (264) 416 597 M:+40 (722) 757 144 bolog.alexandru@ transilvaniaconstructii.ro www.transilvaniaconstructii.ro

GRAELLS & LLONCH INDUSTRIAL PARK Tel: +40 268 362 658 Fax: +40 268 362 788 laura@graellsllonchromania.ro w w w. g r a e l l s l l o n c h a d m i n i s trareparque.com/romana

Carfil Industrial Park 119 Zizinului St. Braşov, Braşov Tel: +40 268 333 674 Fax: +40 268 321 244 cipbrasov@gmail.com www.cipbrasov.ro

Metrom Industrial Park 60 Carpaților St., Brașov, Brașov Tel: +40 368 101 012 Fax: +40 368 101 013 office@mipbrasov.ro www.mipbrasov.ro

Arc Industrial Park 3 /103 Horea St., Cluj-Napoca, Cluj Tel: +40 264 406 817 +40 264 433 303 office@arcparc.ro www.arcparc.ro

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Hunedoara Industrial Park 2 DJ 687 St. Hunedoara, Hunedoara Tel: +40 354 416 553 office@pihd.ro www.pihd.ro

Călan Industrial Park 401 Decembrie St. Călan, Hunedoara Tel: +40 254 730 223 primariacalan@yahoo.com www.primariacalan.ro

SC. TETAROM S.A. 47 Tăietura Turcului St., 400221 Cluj-Napoca, Cluj Tel: +40 264 407 900/901/902, Fax: +40 264 432 750 tetarom@tetarom.ro www.tetarom.ro

Bucharest Industrial Park Universal Property Srl 8, Dr. Nanu Muscel Ioan Street District 5, Zip Code 050521, Bucharest, Romania Tel: +40 (0) 21 313 44 45 Fax: +40 (0)21 313 44 46 Email: info@ bucharestindustrialpark.com

Pro Faur Invest 255 Basarabia St. Bucharest, Ilfov Tel: +40 212 552 989 profaur@bega.ro www.inchirierispatiiindustriale.ro

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It is a project with an area of 20.23 ha, located on the 687 HunedoaraDeva County Road, at the entrance to the town of Hunedoara. Being in the suborder of Hunedoara City Council, the park offers investors a range of facilities and partners the best prices. There are 20 companies here. Investors are granted the opportunity to lease or purchase the land plots. Spaces for offices can be rented in the administrative headquarters.

Călan Industrial Park is in the execution phase, being achieved through the Axa 4.2. Regional Operational Program and is positioned between the Simeria-Petroșani Fourth Railway Corridor and DN 66, 10 km away from the A1 Deva-Orăștie-Sibiu Motorway. The total area of the park is 41,643 ha. The park also has a head office/business center.

Tetarom I Industrial Park is the first industrial park in Cluj County and was inaugurated in 2005. It has an occupancy rate of 100%, with over 50 companies, 2,000 employees and more than 60 million euros invested by its customers. Tetarom II has operated since 2006 and all the 120,000 square meters are occupied by Emerson SRL, a company that has 1,200 employees and has invested more than 120 million euros. Tetarom III has 1.54 million square meters and an occupancy rate of 75%; over 1,500 people work here, after investments of 200 million euros. Tetarom IV is developing across 850,000 square meters in Feleacu and has been completed in 2015.

BIP project was launched in 2000 and now consists of a plot of 102 hectares of land located in the Bolintin Deal commune, Giurgiu county, on the edge of Bucharest – Pitesti motorway (A1), situated exactly at km 23 on the motorway, just 10 km away from the actual Bucharest ring-road. A direct exit with over-passing bridge is located at the site ensuring perfect accessibility to/from both ways of the motorway. Actual clients: KLG Europe, Prologis Logistic Park, Magnetti Prefabricate, H.Essers GOKBORA.

S.C. Pro Faur Invest S.A. - located in one of the most developed industrial areas in Bucharest -manages Faur Industrial Park, offering consultancy to investors on the rental of industrial, production, storage spaces and logistics centers. The entire range of utilities is ensured for the leasable spaces, in accordance with the standards in force - water supply, industrial and storm sewage, electricity, gas, access roads, telecommunications, industrial equipment without operators.

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Metav Industrial Park supports business people in Romania and abroad, being designed as an opportunity for companies that need large storage and production facilities, as well as small and medium companies. The location is extremely favorable for the development of economic activities. It lies in the north of Bucharest, Baneasa neighborhood, with easy access from downtown (Piata Victoriei, University, Charles de Gaulle) and from the Henri Coanda Airport. Administrative offices occupy 26,767 sq m and spaces for storage and production 49,216 sq m.

Sema Parc is one of the most representative industrial parks in Bucharest, located in the west side of Bucharest, on Dambovita riverside, at less than 10 minutes away from the city center. Sema Parc offers inner access roads, with a total length of 2500 m and an area of 2 ha, exterior lighting, green spaces with ornamental trees that create a pleasant atmosphere, utility networks, the possibility for tenants to choose from a multitude of phone companies and internet providers, rehabilitated buildings, consolidated and renovated, sometimes by changing the destination, according to customers desires, parking spaces, additional services (security, cleaning, fire prevention, snow removal etc).

After winning a Phare project of almost 6 million euros, Mureș County Council managed to start the largest industrial project in the area. At present, MIP employed more than 1,700 people. The Industrial Park is administered by S.C. MUREȘ INDUSTRIAL PARK S.A., where the majority shareholder is the Mureș County Council. There are 7.5 ha available from a total of 45 ha, divided into plots with an area between 2,900 to 35,000 square meters.

S.C. Brazi Industrial Park S.A. is situated in the village of Brazi, Prahova County, in the northern part of the Brazi industrial platform, close to the DN 1A national road (the city belt of Ploieşti) and its intersection with the DN 1B national road. It is located on the Brazi industrial platform, which also hosts one of the most important petrochem ical plants. The area pertaining to the company is about 46 ha, 14 ha of which include built areas (halls, warehouses etc.).

Plopeni Industrial Park is located in Prahova County, on the PloiestiSlanic county road, at a distance of about 15 km from Ploiesti, and has a total area of 36.47 ha, of which 4.02 ha built area. At present, a total of 30 companies are operative in Plopeni Industrial Park, both individuals and companies, which have created a total of 407 jobs.

METAV BUSINESS PARK 67-77 Biharia Street, District 1, Bucharest Tel.: +40 (21) 599 77 65 office@metav.ro www.metav.ro

Sema Parc Logistics 319 Splaiul Independentei, OB 5, Ground floor, District 6, Bucharest Tel/Fax: +4021.316.91.78 +4021.318.91.77 www.semalogistics.ro

MUREȘ INDUSTRIAL PARK 1/G Vidrasău Ungheni Platform, Ungheni, Mureș Tel: +40 265 433 620 +40 265 433 632 office@industrial-park.ro www.industrial-park.ro

S.C. Brazi Industrial Park S.A. 13 Piatra Craiului St. Brazi, Prahova Tel: +40 244 547 499 +40 244 545 549 www.parcbrazi.ro

Plopeni Industrial Park 7 Armoniei St., ground floor Plopeni, Prahova Tel: +40 244 221 431 office@plopeniparc.ro www.plopeniparc.ro

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Ploieşti Industrial Parc was developed in 2002. Now it has a total surface of 162,600 sqm, and it is one of the largest industrial parks in Romania. Due to the 100% occupancy rate in Ploiești, additional parks are created in Urlați, Mizil and Ciorani, the only surfaces available now are located in Mizil and Ciorani.

PLOIESTI WEST PARK, the largest industrial and business park in SE Europe, mainly focuses on light production, logistics and industrial activities (surface > 285 ha; 110ha already developed in less than 4 years). The park is developed by ALINSO GROUP, an international real-estate and green energy projects Belgian developer. PLOIESTI WEST PARK has direct access to DN 72 Ploiesti-Targoviste road, A3 Bucharest-Budapest highway (currently completed until 20 km away from the park) and is located 45 km away from Henri Coanda International Airport. The park has access to the services of ALLIANSO TERMINAL, the first open and independent railway intermodal terminal in Prahova County.

It will be developed on the industrial platform Ciglentir, in the city of Jibou, Sălaj County. Investors can negociate for 100 lots part of a surface of 22 ha, which is the total surface of the industrial park. The municipality estimates 1,000 jobs will be created by the investors in the park.

Ploiești Industrial Parc Ploieşti, OP. 1, CP. 147 Tel: +40 244 434 028 office@industrial-parc.ro www.industrialparc.ro

PLOIESTI WEST PARK Aricestii Rahtivani, Prahova SC ALLIANSO BUSINESS PARK SRL Soseaua Ploiesti-Targoviste Km 8, East Zone, Trup II, 1st floor, room 5 Prahova, Romania Tel: +40 344 228 200 contact@alinso.eu www.alinso.eu www.ploiestiwestpark.eu

Parc Industrial Jibou 4 1 Decembrie 1918 St. Jibou, Sãlaj Tel: + 40 260 640 558 primaria_jibou@yahoo.com www.primariajibou.ro

Automecanica Automecanica Industrial Park is geographically positioned in the center of the country, being located in the town of Mediaș, Sibiu County, at a distance of 39 km from Sighişoara and 55 km from Sibiu. It has direct access to the European road and railway network. It is situated at a distance of 60 km from Sibiu International Airport. There are 700 employees in the industrial park.

Parcul Industrial Sibiu has an area of approximately 100 hectares. It is located in Şelimbăr – Sibiu, at 7 km from Sibiu International Airport. In the Industrial Park operate leading companies in fields such as: metal processing, metal structures, chip removal machining. It has an area of 98.4 hectares. The companies that have so far chosen PaIS to develop their businesses are: Caucho Metal Productos, Caucho Metal Productos Total, Euromanagement, S.A.G. CNC Technik, Ejes. Many other companies have also submitted applications to operate in this location, which offers foreign or domestic investors an European economic climate and numerous amenities.

Industrial Park 41 Aurel Vlaicu St. Mediaș, Sibiu Tel: +40 269 803 646 +40 269 803 606 info@autm.ro www.autm.ro

Parcul Industrial Sibiu SA (PaIS) 1 Telefoanelor St. Șelimbăr, Sibiu Tel: +40 269 210 503 Fax: +40 269 211 831 eugeniordanescu@yahoo.com

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S.C. Parcuri Industriale Sibiu-Şura Mică S.A. 10 Parc Industrial St. Șura Mică, Sibiu Tel: +40 269 577 440 +40 269 577 441 ipssm@rdslink.ro www.primaria-suramica.ro

PITT Calea Torontalului St., Km 6 Timişoara, Timiș Tel: +40 256 220 801 +40 256 220 984 office@pitt.adetim.ro www.pitt.ro

Business Park Bistrita Sud SC BUSINESS PARK BISTRIȚA SUD SRL 6, Nicolae Titulescu Street, Bistrița M: +40-744-772139 T: +40-263-237920 office@bizpark.ro, www.bizpark.ro

Zacaria Group 193 Stefan cel Mare Street, 3rd floor, Sibiu Emilia Tepes 40 722 221 407 emilia@zacaria.ro www.zacaria-industrial-parks.ro

WDP Romania 1 Baia de Arama Street, 022204, District 2, Bucharest Tel / Fax: +40 312 257 116 Valentin Stanciulescu: +40 730 092 701 Info-romania@wdp.eu www.wdp.eu

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The Sibiu-Şura Mică Industrial Park is located on the territory of Şura Mică, West of Sibiu. The land is owned by the Local Council of Şura Mică, with a total area of 98.61 ha, to which are added the necessarily integrated local roads, i.e. 0.56 ha. The Industrial Park area includes industrial plots with surfaces between 0.2 and 17.00 ha, an administrative area, household utilities, green areas and network protection areas, an internal trafficking system.

Timișoara Technological and Industrial Park (PITT) is located at a distance of 6 km from the city’s center, on the DN6 national road, being a project undertaken by the Timiş County Council and the Timiş Economic Development Agency, to support the development of SMEs in fields such as IT, communications, electronics and electrical engineering, automotive and other industries that use advanced and non-polluting technologies, cleaner production technology, design, research and logistics. It provides the option of leasing 25 plots which range in size from 950 to 8.420 square.

Unfold on a total area of 30 hectares, Business Park Bistrita Sud is located just 12 kilometers from downtown Bistrița, in Sărata District. This integrated platform for industrial development available to residents provide excellent working conditions and support – financial and logistic – in terms of business growth. Management Company will assist investors in obtaining financing, such as nonreimbursable state aids, non-reimbursable European subsidies, bank loans and private equity for further developments.

Zacaria Group is a member of the international group Alf Mizzi & Sons, group founded in 1915 in Malta. On the Romanian market since 2005, Zacaria Group has made a name for itself as a constant investor and a capable manager of industrial spaces all over Romania. Zacaria Group of companies has the headquarters in Sibiu, but owns logistical properties in cities like Oradea, Arad, Alba Iulia, Cisnadie and Craiova, constantly orienting towards other investment opportunities. The locations of the industrial spaces are chosen so they can provide quick access to highways, airports or railways, in order to facilitate distribution and international transport.

WDP is the market leader in Benelux and a major player through its efficient customized services of development, letting and management of logistical and industrial property, with a portfolio of more than 3 milion square meteres of warehouses, distribution centers and industrial spaces in Europe. In Romania, WDP is developing a portfolio of logistic and industrial parks in strategic locations (including but not limited to Ploiesti, Brasov, Pitesti, Bucharest, Constanta, Sibiu, Cluj, Rm. Valcea, Braila, etc.). WDP is driven by the one stop shop principle: build-to-suit, financing, development, construction, facility and property management. In short, everything about WDP is added value.

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Located in Constanta, in the first important city from Bulgarian border on E87 route, with direct access to city ring road, Logistic Park is your best choice as a business center in the South East side of the country. Total park size: 147,000 sq m, total leasable area 55,000 sq m.

CTP is a full-service commercial real estate developer and manager, specializing in the delivery and management of custom-built, hightech business parks for leading international and domestic companies making strategic investments in new or expanded operations in Central Europe. CTP is the owner of the CTPark Network, the largest integrated system of premium business parks in Central Europe, with over 3 million sqm of A-Class properties in over 50 strategic locations, 10 of them in Romania.

Imotrust is a developer in Western Romania with portfolio properties selected based on information accumulated over 20 years of monitoring the local markets. The industrial warehouses are located in key locations and are modern structures with all facilities and easy access in view of transporting raw materials and finished products, and office buildings offer modern workstations at high standards. The lands for industrial buildings comply with all the coordinates and requirements of running a successful business and propose alternative build to suit projects, on the land requested by the client.

NGB Distribution Center is ideally situated 9 km South West from Bucharest center, in the municipality of Bragadiru, on the Bucharest ring road. The complex offers 12 ha on site with planning up 50,000 sqm of industrial and logistic buildings, both ready to occupy space as well as built-to-suit solutions, and already has international and national leading tenants occupying + 10,000 sqm of warehouse space. Warehouse and industrial units are available from 600 sqm. Customized logistic solutions can be implemented upon request. The site is one the few in Bucharest to benefit with private railway access.

P3 Logistic Parks (P3) is a specialist owner, developer and manager of European logistics properties. Active throughout Europe, P3’s asset base comprises 162 high-quality warehouses with an average age of 8.4 years totalling 3.3 million sqm across nine countries and a land bank with zoning for 1.4 million sqm of potential development. P3’s mission is to provide warehouse customers with a first rate occupancy experience in high quality assets in key logistics locations. P3 develops environmentally sustainable warehouses that meet the highest international standards.

Constanta Logistic Park 6 Industriala Street, 900147 T: +40 241 -587 759 +40 747 299 641 www.logisticpark.ro

CTP Invest, spol. s.r.o. CTPark Humpolec 396 01 Humpolec, Czech Republic T: +420 565 535 565 hanu@ctp.eu www.ctp.eu

Imotrust Arad Anca Bejan Sales Manager Tel: +40 727 300 000 anca.bejan@imotrustarad.ro www.imotrustarad.ro

NGB Distribution Center N.G.B. Construction & Management +4021 316 67 82 / b3 office@ngb.ro www.ngb.ro

P3 Bucharest PointPark Properties SRL No. 18, Sfântul Elefterie Street, 3rd floor 050525 District 5 - Bucharest Romania T: +40 372 705 655 info@p3parks.com www.p3parks.com

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Logicor Leading owner and operator of modern logistics facilities in Europe. We create value and serve our costumers by actively managing a diversified portfolio of high quality logistics and distribution warehouses in key markets along the European supply chain. More than 600 assets and 13 milion sqm, in Romania since 2016.

PIOM is located in the heart of Transylvania, close access to highway and railway within the premises, skilled workforce available, it’s a suitable place to develop various industries. Currently our target is to attain investors by renting or selling plots depending on the investors’ requirements. There are also different size warehouses on site ready to be rented. We are flexible and open to work with our future partners on different settings in order to develop a long term relationship.

Logicor Europe Regional Headquarters 3rd Floor, 36 Carnaby Street, London, UK W1F 7DR Tel: +44 (0) 20 7198 2424 Anna Mazepa Leasing Manager, Central & Eastern Europe + 48 (0) 22 204 02 00 mazepa@logicor.eu

PIOM Ocna Mures Industrial Park Ocna Mures, 1 Mihai Eminescu Street, Alba County Ing. Ioan BOGDAN T/F: +40 258 817541 E-mail: ioan.bogdan@piom.ro

MIPO Metropolitan Industrial Park Oradea started development in January 2016. The location provides key facilities for manufacturing activities. Located on the city’s highway belt, it is easily accessible. Our short term objective is to obtain the industrial park license for MIPO and to prepare the location for Romanian and foreign investors.

VGP Park Timisoara is located in Timisoara city. The site offers 4 buildings with an overall space of about 180 000 sqm. The park will be situated in the North-Eastern part of the city, not far from the international airport. The VGP park is located on an intersection of the city ring road and will also serve as a very important connection between the city and the airport. The E70 road is only one kilometer away and will connect the planned stretch of motorway, which will be built not far from the city, as a part of the fourth European largecapacity corridor.

Valad Europe is a leading independent diversified real estate investment manager with a network of local offices throughout Europe, managing €5.3 billion of real estate assets and investment capacity across 24 funds and mandates. Valad Europe has, in addition, about €1 billion of development projects. Valad manages in excess of 400 assets comprising approximately 4.2 million square metres. Its core business is value-adding real estate investment management with local asset management teams taking care of approximately 3,700 tenant customers. Valad has 180 people in 22 offices in 13 countries across Europe.

Metropolitan Industrial Park Oradea CET 2 Platform 36 Ogorului Street Oradea, Bihor county Oana Mateut T: +40 749 270 275 oana.mateut@ascomint.ro

VGP Park Timisoara 49 Londra Street, District 1, 011762 Bucharest, Romania T: +40 (0)317 110 250 info@vgpparks.eu www.vgpparks.eu

A1 Business Park A1 Business Park N Building, Ground floor, N01 office 13.5 km Bucuresti - Pitesti Highway (A1) Dragomiresti Deal, Ilfov County 77096 Romania T +40 (0) 21 211 00 33 F +40 (0) 31 710 70 10 M +40 (0) 731 732 929 office@valad.ro

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S.C. DIBO S.A. 7 Piatra Craiului Street, Negoiesti,Village Brazi, Prahova Phone: +40 244 434 251; office@dibo.ro www.dibo.ro

Artemis Real Estate 1 Splaiul Nistrului Street, Mezanin, ap. 7 Timișoara, Timiș Phone: +4 0732 - 402257 office@artemisrealestate.ro www.artemisrealestate.ro

Romglob Invest Turdas/Pricaz, Hunedoara Phone: +40 21 210 31 13 office@romglobinvest.com www.romglobinvest.com

TAP Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Vacarescu Boulevard, 2nd district, 020276, Bucharest T +4 (0) 372 800 000 enquiries@globalworth.com

Parc Industrial Galati Location - Park 304 Calea Prutului Galati +40 721 845 487 office@parculindustrialgalati.ro Administrative Headquarters 38 Domneasca Street Galati

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DIBO Industrial Park was settled in 1998, as a Dutch investition which offers for rental industrial halls and offices of high quality standard and whose success is proved by the large number of investors who have come here so far. With an area now of 9 ha and 16 industrial halls, DIBO Industrial Park is convenient situated in Negoiesti-Brazi, Prahova County, in the beltway of city Ploiesti, and at the crossing point of main roads which link the principal geographical regions of the country.

Within the Sânandrei Comnune, with opening to DN 69 TimisoaraArad, company owns an industrial park with a total surface of 10,5 ha and includes a total number of 9 plots with different surfaces starting with 3.663 square meters to 29.649 square meters. Artemis Real Estate is the Romanian subsidiary of the Swiss group Artemis Holding AG, group that also contains the brand FRANKE. The development of residential, industrial, commercial and office real estate projects represent the largest part of the group’s activity.

ROMGLOB INVEST SRL operates RGI Industrial Park located in Turda’s Village, Pricaz, Hunedoara County, at 1.5 km away from Orastie. The Industrial Park has a very good geographical position, having directly access at the European road E68, both from the East side and from the West side. It is almost in the middle of the country, the distance until the nearest airport being about 85 km (Sibiu airport). RGI Industrial Park has 120,000 sqm total surface, 18,000 sqm build surface, 7,000 sqm green house surface, 7 buldings (production-halls, warehouse, office, service space).

The Timisoara Airport Park (“TAP”) is a light-industrial complex located in the North-East of Timisoara. The property is in close vicinity to the international airport and benefits from easy access to the fourth European Corridor. The complex has been developed in phases and it currently offers a total GLA of 81,349 sqm which is almost exclusively let to Valeo, Continental and Elster. As of 2011, it offered c.27,474 sqm of light-industrial space, with an additional c.45,400 sqm delivered in Q2-15 and c.9,100 sqm in Q3-15. On the exercise of all the expansion options available to its tenants, the complex will offer a total of c.123,380 sqm of light-industrial space.

INDUSTRIAL PARK S.R.L. from Galati is managing an industrial park/zone with a total area of 21.8 ha, located near to Danube, in the South-Eastern city of Galati. The purpose of the Industrial Park is to sustain local and regional economy, its horizontal development and creating jobs for highly qualified workforce from Galati offered by university graduates. Galati Industrial Park promotes a flexible approach regarding the delimitation of the various zones, priority requests are companies that will be located in the park.

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AIC Industrial and Logistic Development Romania is a division of AIC Srl. We have developed and sold more than 350,000 sqm of class A industrial and logistics buildings in Romania amongst them former, Cefin Logistic Park Bucharest, A1 Business Park, Cefin Logistic Park in Arad – all have new owners, and Dunca Logistic Park in Timisoara (still owned by us). Since 2013, we have been active in real estate project recovery. In the last 24 months we have successfully completed transactions with a total value in excess of 30 million euros related to distressed industrial and logistic real estate properties.

AIC

Equest Logistic Center Project is a logistics/industrial park located on the 13th km of A1 highway on the western outskirts of Bucharest near the ring-road. The property consists of three buildings, dedicated for warehousing and light industry purposes. Equest Logistic Center GLA is totalizing 56, 690 sq m and 40 logistics Units which are provided to be completely independent energetically and functionally, but allowing the possibility to link them up through fire rated access at particular requests.

Equest

Mangalia Industrial Park covers an area of 13.1 ha and is located at a distance of 1.5 km from the West of the town. The land is owned by the City of Mangalia. The park has easy access to the DJ 391 county road, Mangalia Negru-Vodă, as well as to the E 85 European highway (DN 39) Constanţa-Mangalia. It has access to the railway and to the port of Mangalia. Its closeness to the Bulgarian border creates opportunities for the development of import-export activities and cross-border cooperation.

Panattoni Europe, following in the footsteps of success in Poland, Czech Republic and Germany, has decided to expand into other European markets. The developer has opened another office - in Bucharest, Romania. Initially, the company will focus on developing build-to-suit (BTS) investments, but is also planning to create its own multi-tenant logistics centre near Bucharest. Panattoni Europe’s decision to enter the Romanian market was motivated by the country’s great potential. The newly opened Bucharest branch is headed by Managing Director, Muler Onfrei.

S.C. REIF Construct S.R.L. is developing infrastructure projects. In N-W Romania, Cluj County, it has recently constructed an industrial area for companies that want to establish in the region. On an area of 44 hectares (440,000 square meters), these companies have access to high quality infrastructure, a rich labor market and a favorable environment for business development. Reif Industrial Zone is adjacent to Campia Turzii city.

Bucuresti – Pitesti Highway, km 13,2 1-7 Italia Street, Chiajna, Ilfov county T: +40 21 202 60 00 / +40 740 109 674 contact@aicre.ro www.aicre.ro

SC Equest Investments SRL No. 90, 13 septembrie street, Marriott Grand Offices, room 4.10, district 5, Bucharest T: +40 21 403.44.91 office@equest-invest.com

Mangalia Industrial Park 1 Intrarea Portului St., PO no.1, PO Box-32, Mangalia, Constanța Tel/Fax: +40 341 566 942 parcindustrialm@yahoo.com www.mangaliaparc.ro

Panattoni Europe World Trade Center 10 Montreal Square, Entrance F Bucharest 011469, Romania Muler Onofrei Phone +40 21 202 30 28

REIF S.C. Reif Construct S.R.L. 64 A Iugoslaviei St., ap. 3 and 4, Cluj Napoca, Cluj Tel: +40 264 406 066 office@reifconstruct.ro www.reifconstruct.ro

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with the support of: www.wdp.eu

INCONTRO DN 59 Timisoara-Belgrad Km 8+550 m on the left T:+40 256 290 750 office@incontro.ro www.incontro.ro

ARIES INDUSTRIAL PARK Europa Capital LLP 15 Sloane Square London SW1W 8ER T: +44 (0)20 7881 6800 info@europacapital.com

APOLLO LOGISTICS CENTER 032982, Drumul Intre Tarlale, No 150-174, District 3, Bucharest T: 0040 21 256 03 12 office@elcyrom.ro www.elcyrom.ro

Dunca Expeditii Timis county DJ 691 No. Km 7 + 142, Dumbravita T: +40 256 407210 Leontina Puica +40 744 620731 lpuica@duncaexpeditii.ro

H.Essers 2 DC147 Street (A1, km 23) 087015 Bolintin Deal Jeroen.Fabry@essers.com Phone: +40 213 69 70 39

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INCONTRO PREFABBRICATI is a branch of the Lombarda Prefabbricati Group - Montichiari (BS), a leading company in Italy in the field of industrial and civilian prefabrication in reinforced concrete. INCONTRO PREFABBRICATI is present in Romania since 1995 in the own industrial district of Timisoara, DN 59, at 8th km + 550 left, and is offering a complete help service to foreign companies willing to establish there units, offering ready and „turnkey” industrial prefabricated buildings. The INCONTRO PREFABBRICATI Company is present and builds not only in the Timis County, but also in other Western counties of Romania: Arad, Bihor, Cluj, Satu-Mare, Maramures, Caras-Severin, Hunedoara etc.

ARIES INDUSTRIAL PARK is an A-Class Industrial & Logistics Park. Site: 54.5 hectares. GBA: 235,000 sq. meters (fully built). 1st Phase: 13,600 sq. meters GBA. Land can be purchased with planning permission for an area tailored to the customer’s needs. Build-tosuit facilities for both industrial and logistics use can be constructed for owners or occupiers. Light industrial units of 828 sq. meters each; these are available for immediate rental. A dedicated Park administration company will provide cost-effective services for Park residents. 3.5 kilometers from access to A3/ Transylvania Motorway (connecting Turda with Ploiesti, Brasov, Targu Mures, Cluj-Napoca, Oradea, and on to the M4 motorway network in Hungary). Aries Industrial Park is an investment by Europa Capital.

SC ELCYROM REALTY & DEVELOPMENT SRL was established in 1998. It developed and built APOLLO LOGISTICS CENTER an industrial complex for global warehouse management and distribution. ELCYROM focuses in the warehousing logistics market. APOLLO LOGISTICS CENTER consists of 21.265 sqm of warehouses, 9.0 m clear-height at the eaves and 2.200 sqm of offices complementary to each warehouse. Apollo Logistics Center is strategically positioned at the East side of Bucharest, very close to highway Bucharest – Constanţa and the beltway, at 6 km distance from central zone of Bucharest, close to Socum Custom buildings and Catelu Railway Station.

The Dunca Logistic Center includes a warehouse with an area of 34500 sqm and a height of 12.5 m, out of which 3000 sqm have controlled temperature environment with height of 12m. We have the terrain and necessary facilities in order to develop new warehousing or production spaces for up to 100.000 sqm. Currently the whole activity is coordinated and led from Timisoara. Dunca Expeditii is a joint stock company. Dunca Expeditii was established in 1994.

Logistics service provider H.Essers Romania, which currently counts a fleet of over 400 trucks and a storage capacity of 83,000 sqm in six locations, plans to invest next year up to ten million Euro in the local market, in both its fleet and the expansion of its Bucharest Industrial Park by at least 10,000 sqm. The construction of the new warehouse will start early 2017 and will last five to six months. H.Essers Romania has at this moment 33,000 sqm in Bucharest and wants to grow to 100,000 sqm by 2020. H.Essers owns another warehouse of 38,000 sqm in Oradea.

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INDEX Timpuri Noi Square/ Project by VASTINT 165 Splaiul Unirii, District 3, Bucharest, Romania T: +40 21 321 40 07 info.romania@vastint.eu Sorin Macoveiu Leasing Manager sorin.macoveiu@vastint.eu www.TNsquare.ro

Business Garden Bucharest / Project by VASTINT 159 Calea Plevnei, District 6, Bucharest, Romania T: +40 21 321 40 07 info.romania@vastint.eu Sorin Macoveiu Leasing Manager sorin.macoveiu@vastint.eu www.businessgarden.ro

AFI PARK Project By AFI Europe 4 Vasile Milea Blvd., District 6, Bucharest Tel.: +40 (21) 412 0220 afioffices@afi-europe.ro www.afieurope.ro

AFI PARK BRASOV Project By AFI Europe 4 Vasile Milea Blvd., District 6, Bucharest Tel.: +40 (21) 412 0220 afioffices@afi-europe.ro www.afieurope.ro

AFI TECH PARK Project By AFI Europe 4 Vasile Milea Blvd., District 6, Bucharest Tel.: +40 (21) 412 0220 afioffices@afi-europe.ro www.afieurope.ro

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Laid along Splaiul Unirii, across the street from Timpuri Noi subway station, Timpuri Noi Square is one of the five key urban poles crossing Bucharest City Center, providing working, leisure and living functions, integrated into a mixed-use environment. 100,000 sqm GLA of modern, class A office and retail space, with 50,000 sqm underway in Phase 1. A dynamic plaza area with restaurants, cafes, snack bars and further retail amenities, BREEAM Excellent Design Stage certified.

Business Garden Bucharest combines efficient office space with central office location, surrounded by an open garden for socializing and recreation. With only 10 minutes by car to the city center, next to the Carrefour Orhideea shopping gallery, the location allows easy access by subway and train, by car and other means of public transport. The LEED Platinum pre-certified complex offers 41,000 sqm GLA of modern, class A office & retail space, higher office standards, improved cost efficiency for your business and a better working environment for your employees.

AFI Park is the award winning Class A office project developed by AFI Europe in Romania offering 70,000 sqm of office leasable area, being considered as the new IT&C hub for multinational companies. The LEED Gold certified business park is linked to AFI Palace Cotroceni Shopping Mall (81,000 sqm GLA), becoming an all in one (Offices, Shopping Mall, Entertainment) efficient location, served by Politehnica Metro station and 12 different bus and tram lines. The park is close to 100% occupancy rate.

AFI Park Brasov is a 25,000 sqm GLA Class A Office Project built in Brasovâ&#x20AC;&#x2122;s ultra City Center location. The office project will be developed on top and integrated into AFI Palace Brasov Shopping Mall (40,000 sqm GLA), the first phase of the office project being delivered in Q1 2018. Perfectly situated in the main traffic circulation cross roads of the City, AFI Park Brasov is the correct choice for tenants from the IT&C, BPOâ&#x20AC;&#x2122;s and Banking sectors. The complex will hold a LEED GOLD Certification for Green Building.

AFI Tech Park is a 50,000 sqm GLA Class A Business Park, to be developed in close proximity to the J.W. Marriott Hotel and the Romanian Parliament in Bucharest. AFI Tech Park will comprise of 2 office buildings of 8 floors and a 14 floor office tower, all surrounded with ample green areas, offering an IT&C / Campus style environment being an alternative to outskirts office locations. The Park benefits from excellent accessibility and visibility, including close by retail facilities and public transportation.

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Being the first modern office development in Bucharest, the project comprises of two buildings (Opera Center One and Opera Center Two) and it has a total lettable area of ca 15,500 sq m 2U+GF+7F. It is located in front of Opera House and along Dambovita River therefore it offers an excellent panorama over the area benefitting from natural light and easy access to all means of transportation. The architecture complies perfectly with its location, barrowing from each corner an element of surroundings. Opera Center accommodates the headquarters of reputable companies, such as: NN Lease (ING Group), GlaxoSmithKline, Stoica & Asociatii, PayU, Serban & Asociatii, DHL Logistics, Borza & Asociatii, KING Games, Qualitance, Vastint, Nobel Oil Downstream.

Uniquely positioned across Victoria Palace, the place where the Romanian Government holds its Headquarter, the building successfully fulfills the needs of any exigent tenant. The Project is considered being a landmark on the CBD market due especially to its strategic location and its outstanding architecture concept. The language of transparency and opacity, solid walls and large windows, recalls the modernist tradition of the city. It has a total lettable area of 16,430 sq m and it hosts some of the most prestigious tenants in the market: Orange Romania, METLIFE, Bristol Myers-Squibb, Arnia Software, Qatar Airways, CBRE, BSS.

A project has a high quality approach in architecture and a modern urban design able to provide a healthy live-and-work environment having full access to natural light and sophisticated technical specifications. Formed by two splendid office buildings - River View House and Atrium House - with a lettable area of 47,600 sq m, the Project is accommodating important companies such as: British American Shared Services Europe, Misys, Computer Generated Solutions, Thales Romania, Ipsos Interactive Services, UPC Romania, PTC Eastern Europe, Temenos, SKF Romania. Making its role as an edge along the riverside, the Project contributed to the urban definition of the area conversing it from an industrial plot into a modern office area.

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Opera Center CA Immo Real Estate Management Romania S.R.L. 47-53 Lascar Catargiu Blvd., Europe House, 5th floor Bucharest, Romania Tel: 0040 21 300 17 00 office@caimmo.ro

Europe House CA Immo Real Estate Management Romania S.R.L. 47-53 Lascar Catargiu Blvd., Europe House, 5th floor Bucharest, Romania Tel: 0040 21 300 17 00 office@caimmo.ro

Riverplace CA Immo Real Estate Management Romania S.R.L. 47-53 Lascar Catargiu Blvd., Europe House, 5th floor Bucharest, Romania Tel: 0040 21 300 17 00 office@caimmo.ro

Being placed on one of the most exquisite boulevards on Bucharest, in close vicinity to the Press House, the Project, set in landscaped surroundings, if formed by four buildings, each of five floors and provides over 26,000 sq m of office space. The ensemble is a functional typological model of Business Park: high quality office building, with a small height ratio, within an open composition, set on a generous land. The architectural definition of the ensemble is simple and coherent, with full-gap string-courses of terracotta cladding alternated with green strips, protected by sun blinds. The Project takes advantage of a landscape surrounding delivering a pleasant commercial architecture and a relaxing working place environment.

Bucharest Business Park

Orhideea Towers - a new concept of workspace. Designed by BEHF, reputable Austrian architecture firm, Orhideea Towers is airy, bright and well balanced. An icon landmark project located in the new emerging central-western business district of Bucharest, the building is developed according to CA Immoâ&#x20AC;&#x2122;s highest quality standards, in terms of design, technical specifications and sustainability criteria. It is constructed as a green building and will apply for LEED Gold certification. Dedicated to dynamic companies and their people, total gross leasable area of 37,000 square meters, entire project to be delivered in 2017.

Orhideea Towers

CA Immo Real Estate Management Romania S.R.L. 47-53 Lascar Catargiu Blvd., Europe House, 5th floor Bucharest, Romania Tel: 0040 21 300 17 00 office@caimmo.ro

These index pages include details from developers who responded to the invitation of the publishing house or descriptions compiled based on information available on updated project websites (if the selection was possible). These index pages do not contain descriptions of all office centers in Romania, the publishing house cannot be held responsible for the details made public by the developers. For 2017 edition, please send your description to: ionut.oprea@transilvaniabusiness.ro.

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INDEX Metroffice Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: Sebastian Dragomir sebastian.dragomir@immofinanz.com Emilia Bocan emilia.bocan@immofinanz.com +40 31 405 1702

Metroffice, the first development phase of Iride City, is located in Northern Bucharest, with direct connection to the subway and additional public transport by buses and trams. The location also benefits from prime access to city center main roads, ring roads and Henri Coanda International Airport. The office complex comprises three buildings with flexible design rentable space totalling approx. 40,000 sqm.

Iride Business Park Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: Sebastian Dragomir sebastian.dragomir@immofinanz.com Emilia Bocan emilia.bocan@immofinanz.com +40 31 405 1702

Iride Business Park is located in Northern Bucharest, in a newly developed administrative and business district. Minibuses, trams and the underground provide excellent public transport access. The location also benefits from its prime location near major trunk and ring roads and it is a mere 15 minute-drive to the airport. The park provides 92,855 sqm of rentable area. Buildings range from single to eight storeys.

S-Park Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: Sebastian Dragomir sebastian.dragomir@immofinanz.com Emilia Bocan emilia.bocan@immofinanz.com +40 31 405 1702

S-Park is located in Northern Bucharest, close to Presei Libere Square. Shuttle buses and bus routes provide good public transport and the location is well served by main roads with access to the city center and ring road system. The airport is a ten-minute drive away. The building provides 34,186 sqm of rentable area and is organized over eight levels: two basement levels, the ground floor and five upper storeys.

Pipera I Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: Sebastian Dragomir sebastian.dragomir@immofinanz.com Emilia Bocan emilia.bocan@immofinanz.com +40 31 405 1702

Victoria Park Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: Sebastian Dragomir sebastian.dragomir@immofinanz.com Emilia Bocan emilia.bocan@immofinanz.com +40 31 405 1702

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Pipera I is located in the Northern outskirts of Bucharest which border the Ilfov district. The area is easily accessible by car and it is a mere 15-minute drive to the airport. Shuttle buses operate from underground stations, including Pipera and Aurel Vlaicu. The building provides 19,743 sqm of rentable area and is organized over eight levels: basement, ground floor and six upper floors.

Victoria Park is located in Northern Bucharest, close to Baneasa Airport and the Baneasa Shopping Center, Bucharestâ&#x20AC;&#x2122;s main commercial center. Shuttle buses and bus routes provide good public transport access and the site benefits hugely from its location on a major trunk road with access to Bucharestâ&#x20AC;&#x2122;s ring road system. Baneasa Airport and Henri Coanda International Airport in Otopeni are at two and five-minute drive away, respectively. The buildings provide 20,991 sqm of rentable area, organized over six levels: basement, ground floor and four upper floors.

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Bucharest Corporate Center is located in Bucharest’s central business district close to Victoriei Square. Buses, trams and the underground run nearby providing first-class public transport access. Road connections are also excellent and it is a mere 30 minute-drive to the airport. The building provides 11,672 sqm of rentable area and is organized over 19 levels: three underground storeys, the ground floor, a mezzanine, 13 upper floors and one technical floor.

INDEX Bucharest Corporate Center Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: Sebastian Dragomir sebastian.dragomir@immofinanz.com Emilia Bocan emilia.bocan@immofinanz.com +40 31 405 1702

Global Business Center Global Business Center is located in Western Bucharest, close to Cotroceni Palace and the Polytechnic Institute. Public transport and road connections are excellent, with a choice of bus and tram lines and an underground station in the immediate vicinity. The site allows easy access to the city center, Bucharest’s ring roads, and the two airports. The building provides 10,340 sqm of rentable space and is arranged into three underground and eight upper levels.

Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: Sebastian Dragomir sebastian.dragomir@immofinanz.com Emilia Bocan emilia.bocan@immofinanz.com +40 31 405 1702

North Center North Center is located on the Northern outskirts of Bucharest which border the Ilfov district. The area is easily accessible by car and it is a mere 15-minute drive to the airport. Shuttle buses operate from Pipera underground station. The building provides 9,628 sqm of rentable area and is organized over eight levels: basement, ground floor and six upper floors.

Baneasa Airport Tower Baneasa Airport Tower is located on Bucharest’s Northern outskirts, close to Baneasa Airport. Buses and trams provide easy public transport access. The site is also very well connected by road and it is a short seven-minute drive to the Henri Coanda International Airport in Otopeni. The building provides 6,931 sqm of rentable area and is organized over nine levels: two underground storeys, a ground floor and six upper floors.

Amera Tower is a real business oasis, by its strategically outstanding out of the urban crowdedness, but close to the town centre, easily reachable even with common conveyances, a surrounding gifted with all the elements to sustain the business flux: a generous parking place, spacious offices, a large restaurant and a coffee-shop. Amera Tower office building has successfully achieved the GOLD level of certification established by the US. GREEN BUILDING COUNCIL in the LEED (Leadership in Energy and Environment Design) system and verified by Green Building Certification Institute.

Amera Tower 400 230, No 2-4, Calea Baciului St, AMERA TOWER Building Tel: +40 364 08 10 03 office@ameratower.ro Cluj-Napoca, Romania

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PLAZA ROMANIA OFFICES 26 Timisoara Blvd., District 6, Bucharest Tel.: +40 (21) 407 84 00 leasing@anchorgrup.ro

METROPOL 16 Timisoara Blvd., District 6, Bucharest Tel.: +40 (21) 407 84 00 leasing@anchorgrup.ro www.metropolplaza.ro

ANCHOR PLAZA 26Z Timisoara Blvd., District 6, Bucharest Tel.: +40 (21) 407 84 00 leasing@anchorgrup.ro www.anchorplaza.ro

Hermes Business Campus D.Pompeiu Blvd 5-7 / District 2 RO 020335 Bucharest [T] +40 21 569 91 45 mitricoaia@atenor.ro www.atenor.ro

Sun Offices S IMMO Romania 391 Calea Vacaresti, Bucharest Sun Offices - Entrance B Tel.: +40 (0)21 780 71-67 office@simmoag.ro

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Plaza Romania Offices is setting new trends for the Bucharest commercial segment, being the first office building incorporated within a shopping center. This converted extension comes along with a special offer: 10,000 sq. m of leasable area, with high efficiency in space utilization and easy access to a wide range of services that your employees will greatly benefit from: over 100 shops, 1,800 parking places, a large variety of restaurants and coffee shops, Movieplex cinema – with 11 screens, World Class fitness center, beauty saloon and many more.

Situated in walking distance from one of the most well-known shopping centers in Bucharest – Plaza Romania, Anchor Plaza Metropol will benefit from a large variety of facilities offered by the shopping center. This A class office building will deliver on the market a total leasable area of 37,000 sqm of high quality offices, having a large floor plate of 3,450 sqm, which will allow maximum space utilization together with space flexibilities and technical requirements different needs based on type of activity, mainly IT sector and medical.

Anchor Plaza is the first A class office building in Bucharest integrated within a retail scheme. It provides with functional and architectural features such as an attractive entrance and flexible partitioning options. ANCHOR PLAZA is offering 25,000 sq. m of leasable area on 13 floors, 255 indoor and outdoor parking spaces – in accordance with international standards, 24/7 access control and security monitoring system. The building provides with a contemporary architecture and finishing, high speed elevators, as well as many other above the usual standards options that may accommodate medium to large scale requirements Conveniently situated nearby Lujerului subway station and with easy access to tram and buses, our property is very easy to access by your employees.

HBC will be certified BREEAM „Excellent” (Building Research Establishment Environmental Assessment), the best rating a building has obtained regarding its sustainability, in Romania. The first building (18,000 sqm) was delivered in Q1 2014, fully let. The second building (24,900 sqm) was delivered in Q1 2016 and is leased 80% . The third and last building (29,100 sqm) will be completed in December 2016 and its 90% leased by Genpact.

Located right on top of Sun Plaza, one of the newest and largest stateof-the-art shopping centers in Bucharest, the office premises benefit from excellent location and accessibility. At the crossroads of 4 major circulation paths, the building is situated very close to one of the most populated neighbourhoods in Bucharest, while being also linked with the city center. SUN OFFICES is placed directly above “Piata Sudului” metro station. SUN OFFICES provide 9,764 sq m high class office space on 3 levels with high technical specifications. S IMMO started construction works for The Mark. The elegant 15 storey tower together with the 6 storey podium will offer about 24,000 sq m lettable area and will provide a visual reference point across a wide area of the city.

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Green Court, Building C Skanska Romania Green Court Bucharest, Building C, 4 Gara Herastrau St., 3rd floor, RO-020334 Bucharest www.skanska.ro

BANEASA BUSINESS & TECHNOLOGY PARK 42-44 Bucuresti-Ploiesti Road, District 1, Bucharest Tel.: +40 (21) 305 71 94 office_bbtp@baneasa.ro www.baneasa.ro

DOROBANTI 239 239 Dorobanti Road, District 1, Bucharest Tel.: +40 (21) 305 71 94 office_d239@baneasa.ro www.dorobanti239.ro

oregon park Portland Trust Romania Floreasca Park | 43 Pipera Road | Entrance A, Ground Floor 014254 | Bucharest 2 www.oregonpark.ro

Willbrook Platinum Business and Convention Center 172 -176 Bucuresti Ploiesti Street + 40 212 317 430 office@willbrook.ro www.willbrook.ro

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Green Court Bucharest, the first office project developed by Skanska in Romania is an A class office complex offering a total of 52,000 sq m of office space in 3 buildings with 12 floors above-ground and 3 underground parking levels. Located in the Floreasca-Barbu Vacarescu area, the most dynamic part of Bucharest, the project has excellent accessibility by all means of transport. The project is pre-certified LEED Gold (Building A is already LEED Gold certified) and features numerous sustainable solutions in order to minimize the building’s environmental footprint and significantly reduce its operating costs.

Baneasa Business & Technology Park is a business park, consisting of two office buildings, completed in Q4 of 2007, placed on Underground+ Ground Floor+4th Floor+Technical Floor, with a total leasable area (including terraces) 28,614 sqm, developed on a plot of 24,419 s qm, providing a work environment up to the modern standards of Romania. It represents the gateway to the city from Bucharest Henri Coanda International Airport, DN1, located in northern Bucharest, in the Baneasa neighborhood. Easy access to an international airport, generous parking lots and the prox imity to the city center are just some of the advantages of the new office buildings inside Baneasa Business & Technology Park.

Dorobanti 239 is a Class A office building, which benefits from perfect visibility on one of the most aglomerate arteries of Bucharest, Dorobanti, near the Romanian Television and Primaverii Quarter. Dorobanti 239, opened in 2005, has a lettable area of 6,500 sqm. The existing building has a ground floor and 6 floors, with an average floor area of about 950 sqm. Parking is on 2 levels and includes 95 underground parking spaces.

oregon park has been designed to provide a combination of high specification, efficient office space with a particular focus on low energy consumption in a pleasant, attractively landscaped plot of 3.9 hectares, and to offer excellent road links to the city center, the main housing area and the airports. Located on Soseaua Pipera will comprise threee buildings: A - 20,264 sqm, B - 24,514 sqm and C 27,181 sqm. Developer: Portland Trust, a company established in 1997 to develop high quality, institutional, commercial real estate assets throughout Central Europe.

Willbrook Platinum Business and Convention Center is the new premium destination in Bucharest, built in compliance with green development guidelines. Platinum Business and Convention Center is at the heart of an area rapidly becoming the leading office location in Bucharest. The site is surrounded by Baneasa Forest, with direct access to the Bucharest – Ploiesti highway (DN1) leading from the city center to the airport. Comprising two state-of-the-art buildings, connected by a pedestrian bridge, Willbrook Platinum Business and Convention Center provides 40,000 sqm of class A office spaces and convention facilities.

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Baneasa Center Adval Asset Management Banu Antonache Offices, 40-44 Banul Antonache Street Sector 1, Bucharest, 011665, Romania T: +40 (0) 31 104 0035 F: +40 (0) 21 361 1166 office@advalmanagement.com

Banu Antonache Adval Asset Management Banu Antonache Offices, 40-44 Banul Antonache Street Sector 1, Bucharest, 011665, Romania T: +40 (0) 31 104 0035 F: +40 (0) 21 361 1166 office@advalmanagement.com

Cascade Offices Adval Asset Management Banu Antonache Offices, 40-44 Banul Antonache Street Sector 1, Bucharest, 011665, Romania T: +40 (0) 31 104 0035 F: +40 (0) 21 361 1166 office@advalmanagement.com

Romana Offices Adval Asset Management Banu Antonache Offices, 40-44 Banul Antonache Street Sector 1, Bucharest, 011665, Romania T: +40 (0) 31 104 0035 F: +40 (0) 21 361 1166 office@advalmanagement.com

Charles de Gaulle Plaza GLL Real Estate Partners GmbH Lindwurmstrasse 76 80337 Munich Tel.: +49 (0)89 - 726 103 930 info@gll-partners.com www.gll-partners.com

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Baneasa Business Center is a prominent office building and comprises nine floors of flexible open plan office accommodation above ground. The building was built in two phases during 2002 and 2003 and was one of the first buildings in Bucharest to offer accommodation suitable for international tenants. There are 132 dedicated underground and above ground car parking spaces. The property is located in the established office district of North Bucharest. The building has an excellent visibility adjacent to the underpass in Baneasa.

The property was built in 2006 and provides five floors of high specification open plan office accommodation above ground and two levels of parking underground. Situated prominently on the corner of a busy intersection the building is well known as one of the most attractive office developments in Bucharest, located in central Bucharest just off Calea Floreasca, one of the most affluent districts in the city. It is a popular commercial and residential location with a wide range of retail amenities nearby. The location enables easy access to the city centre and the international airports (Baneasa and Otopeni). Public transport facilities are good with numerous bus and tram lines.

The property was built in 2005 and comprises six floors of office accommodation above ground and one level of underground parking. The building has a very distinct architectural design with its curved colorful facade. The property provides efficient office accommodation and flexible floor space. The property is prominently located at a corner point on Buzesti Street, one of the main arterial routes leading south from Victoriei Square, in the heart of the Bucharest central business district. Public transport facilities are very good with bus and tram lines and Victoriei metro station just adjacent to the site.

Romana Office is a headquarters style property that comprises six floors above ground and two floors of underground parking providing 34 spaces. Designed to a high specification to provide cutting-edge office accommodation in the heart of the city, it offers a modernly designed reception area with ground floor retail space let to a renowned food provider, both with direct access to Blvd. Dacia. The property is located in the prime central business district adjacent to Romana Square and has frontage to Blvd. Dacia, a busy road in the heart of Bucharest.

Charles de Gaulle Plaza is one of the most prominent buildings in Bucharest comprising a total area of approximately 23,000 sq m of modern office space, spread over 17 levels. Car parking is provided by way of 360 dedicated space in the 5 underground levels as well as onstreet car parking in the vicinity. Tenants’ employees can benefit from close proximity to one of Bucharest’s best parks, Herastrau, as well as a number of restaurants coffee shops, supermarkets and Embassies in the immediate vicinity. GLL owns also in Romania Floreasca Park 37,500 sqm and Victoria Center – 8,600 s qm.

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Olympia Tower is positioned in the central fast – expanding financial area of Bucharest, on Decebal Boulevard at the junction of the three main boulevards, Mihai Bravu, Decebal and Calea Calarasi. The building is very visible and easily accessed from all parts of the city, with connections to all means of urban transportation. The Muncii subway station is across the street, 50 m away. Total office area: 9,555 sqm.

Olympia Tower Olympia Dezvoltare SRL WTC, 10 Montreal Square, entrance E, 3rd floor Sector 1, Bucharest T: +4 021 311 03 53 office@bluehousecapital.com.ro

The first of the two “PC Center“ office building was developed on a plot of land situated in the Northern part of Bucharest, on BucurestiPloiesti Avenue. Stretching on a surface of over 1,836 sqm, this plot provides a direct access to downtown, as well as to Henri Coanda International Airport (approx. 10 minutes of drive). The project is unique by its location, dimensions, facilities and concept. The technical data are: footprint area: 918,00 sqm; Project total gross area: 8,459 sqm. The building functions: 1 underground parking levels comprising also the technical rooms, 1 semi-basement for parking ground floor, 8 offices levels.

“PC CENTER”

Located as a continuation of the street opening, second of the two “PC Center” office buildings, is unique, also, by it’s location. The building architecture complies with the first “PC Center” office building, being a continuation of it, in terms of appearance and functionality. Technical data: footprint area: 900,00 sqm; total gross area: 10,380.00 sqm. The building functions are distributed as follows: 2 underground parking levels comprising also the technical rooms, ground floor, 9 above ground office levels. This building amazes with its view on Grivita Lake and Herastrau Park and through its glazed walls that allow a special natural lighting

“PC CENTER Business Center “

Novo Park is one of the first and the largest business parks in Bucharest. The complex consists of seven buildings with a gross leasable area of 75,000 square meters of class A office spaces, and is located in the North of Bucharest, next to Pipera subway station. The first building was inaugurated in 2005 and the complex has currently reached 99% occupancy rate. Novo Park is located in the North of Bucharest, in Pipera district. The office complex is 15 minutes away from downtown, it is very close to Henry Coanda International Airport and to the main National Roads (A1, A2 and A3 Highway, DN1). Also, the tenants have easy access to public transportation.

Novo Park

West Gate Business District is one of the largest business parks in Bucharest, developed by Genesis Development. West Gate Business District extends 75,000sqm of leasing area, comprising an elite group of tenants made up exclusively of prestigious multinationals. The office park provides exceptional venues for international or local tenants requiring integrated office spaces. West Gate Offices has five buildings with 15,000 sqm rentable area per building of high quality Class A offices and ancillary accommodation.

PC MANAGEMENT & CONSULTING SRL 9-13 Bucuresti-Ploiesti Avenue, district 1, Bucharest T: +4 021 233.20.15/16 e-mail : office@pc-management.ro

PC MANAGEMENT & CONSULTING SRL 9-13 Bucuresti-Ploiesti Avenue, District 1, Bucharest T: +4 021 233.20.15/16 office@pc-management.ro

Genesis Development 24 Preciziei Boulevard District 6, Bucharest Phone: +40 213 020 809 Leasing Manager- Stefan Tudos stefan.tudos@idgrup.ro www.novo-park.ro

West Gate Business District 24 Preciziei Boulevard District 6, Bucharest Phone: +40 213 020 809 Leasing Manager- Stefan Tudos stefan.tudos@idgrup.ro www.westgatepark.ro

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TCI Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

UniCredit HQ Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

Globalworth Tower Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

Gara Herastrau Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

Globalworth Campus Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

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Tower Center International („TCI”) is a landmark class „A” multitenanted office building located at the heart of the CBD, in the prestigious Victoriei Square very close to Kiseleff and Herastrau Parks. It is the third highest building in Romania (106 metres) and the highest building in downtown Bucharest. TCI comprises two interconnected buildings and benefits from underground parking and excellent public transport. Victoriei Square is an important transport hub, being the meeting point of two subway lines and several tram and bus routes which provide easy access to any point in Bucharest. Year of completion: 2012. Layout: 4UG+GF+25F. GBA: 24,711 sq m.

UniCredit HQ is a landmark Class “A” single- tenanted office building located in the Northern part of Bucharest, on Expozitiei Boulevard off Presei Libere Square.The property was delivered in 2012 and has received BREEAM In-Use / Very Good green certification. UniCredit HQ is the headquarters of the UniCredit Bank in Romania and was ranked 17th on the list of the 30 most architecturally impressive banks in the world in 2013. Year of completion: 2012. Layout: 2UG+GF+15F. GBA: 17,320 sq m.

Globalworth Tower is a landmark „class A” development in Bucharest located in the Northern part of the city in the Calea Floreasca / Barbu Vacarescu area. The location is one of the country’s most dynamic within the office segment and the property is situated at the heart of it. The property has excellent visibility and is situated at the junction of 3 main streets, Barbu Vacarescu Street, Pipera Road and Calea Floreasca. The office tower is the second tallest building in Romania and the property will benefit from a retail component at ground level. Globalworth Tower has been pre-certified with LEED Platinum green certification, which upon its formal receipt, it will be the first building in Romania and the broader SEE region having received the highest available Green accreditation. Year of completion: 2016. Layout: 3UG+GF+26F. GBA: 58,262 sq m.

The „Gara Herastrau” is a Class „A” office development located in the Northern part of Bucharest on Gara Herastrau street. It is adjacent to Green Court Building “A” and is c.200 meters away from Bucharest One. The property is expected to have very good visibility from Barbu Vacarescu street and is conveniently situated near the subway, tram and bus stations. The Gara Herastrau development is expected to offer c.12,000sqm of GBA upon estimated completion in 2016.

Globalworth Campus is a Class “A” multi-tenanted office development located in the Northern part of Bucharest in Dimitrie Pompeiu area at the corner of Dimitrie Pompeiu Boulevard and George Constantinescu Street and will sit next to the Pipera Metro Station (the last stop on the metro line). Phase “A”, currently under construction, will comprise of two (side by side) towers facing Dimitrie Pompeiu Street (main street) offering, upon completion, a total GLA of c.57,000 sqm.Globalworth Campus development overall will comprise of three main office towers offering c.87,800 sqm of GLA and 760 parking spaces. Year of completion: 2016E / 2017E. Layout: 3UG+GF+25F. GBA: c. 87,800 sqm.

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BOB is a modern Class „A” multi-tenanted office building located in the Northern part of Bucharest on Dimitrie Pompeiu Boulevard in one of the largest office hubs of the city. The property received both BREEAM In-use / Excellent and LEED Platinium certifications (for part of the property) in 2014 and has very good visibility due to its large frontage to the main road and is conveniently situated near the subway, tram and bus stations. BOB is part of a wider building complex developed between 2006 and 2011, which consists of three office buildings (including BOB), two residential towers (Upground Towers), retail space and other amenities. Year of completion: 2008. Layout:GF+6F. GBA: 23,631 sq m.

BOC is a Class „A” multi-tenanted office building located in the Northern part of Bucharest on George Constantinescu Street in one of the largest office hubs of the city. Is one of the largest office buildings in Bucharest and has an office plate of more than 7,500 sqm per floor. BOC received BREEAM In-use / Excellent green certification in 2014 and is situated near the subway, tram and bus stations. BOC is part of a wider building complex developed between 2006 and 2011, which consists of three office buildings (including BOC), two residential towers (Upground Towers), retail space and other amenities. Year of completion: 2009. Layout: 3UG+GF+7F. GBA: 58,581 sqm.

City Offices is a mixed use property located in the semi-central part of Bucharest at the junction between two roads, Oltenitei and Giurgiului. It benefits from excellent public transport and is situated at only two metro stations from Unirii Square. The property consists of two connected buildings, a Commercial Building “CB” offering retail and office space and a Multilevel Parking “MP” which consists of retail areas and 882 parking units. Year of completion: 2014. The commercial building was entirely refurbished by Globalworth, with works completed in Q4-14, and received LEED Gold accreditation in 2015. Layout: CB - 3UG+GF+5F | MP - UG+GF+12F. GBA: 56,038 sq m.

Green Court-Building “A” is a Class “A” multi-tenanted office building located in the northern part of Bucharest on Gara Herastrau Street. The property, which was developed by Skanska, was completed in 2014 and has received LEED Gold certification in 2015. It is situated in the New CBD area, which is one of Romania’s most dynamic office sub-markets. The property is part of the wider Green Court Building complex which comprises of three office towers, with Globalworth currently owning two of the offices. Year of completion: 2014. Layout: 3 UG+GF+11F+Tech F. GBA: 21,790 sq m. Green Court-Building “B” is a Class “A” multi-tenanted office, was developed by Skanska, was completed in 2015 and received LEED Gold certification in 2016. GBA: 20,249 sqm.

“Nusco Tower” is a Class “A” multi-tenanted office building located in the Northern part of Bucharest at the junction of Pipera Road and Gara Herastrau Street. The property is situated at the entrance of the Calea Floreasca / Barbu Vacarescu area, which is one of Romania’s most dynamic office sub-markets. Nusco Tower has excellent visibility and faces Globaloworth’s landmark “Bucharest One” development project. The property was delivered in 2010 and was partially refurbished during 2014/15. Year of completion: 2010. Layout: 3UG+GF+19F+Tech F. GBA: 24,382 sqm.

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BOB Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

BOC Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

City Offices Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

Green Court A + B Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

Nusco Tower Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu Văcărescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

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Herastrau 1 Globalworth Real Estate Investments Limited Globalworth Tower, 26th floor, 201 Barbu VÄ&#x192;cÄ&#x192;rescu Boulevard, 2nd district, 020276, Bucharest Tel: +4 (0) 372 800 000 Email: enquiries@globalworth.com

Aviators Park 1-3, Gheorghe Magheru Bd., 2nd floor, right side 1st District, Bucharest 0040 21 230 60 40 0040 747 225 500 bucuresti@sb-gruppe.at

Magheru One 1-3, Gheorghe Magheru Bd., 2nd floor, right side 1st District, Bucharest 0040 21 230 60 40 0040 747 225 500 bucuresti@sb-gruppe.at

Pipera Business Tower 1-3, Gheorghe Magheru Bd., 2nd floor, right side 1st District, Bucharest 0040 21 230 60 40 0040 747 225 500 bucuresti@sb-gruppe.at

Jean Texier 3 1-3, Gheorghe Magheru Bd., 2nd floor, right side 1st District, Bucharest 0040 21 230 60 40 0040 747 225 500 bucuresti@sb-gruppe.at

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Herastrau 1 is an office development to be constructed in the Northern part of Bucharest on Nordului Road, across the street from Herastrau Park. The property is located in an area characterised by high demand for office and residential space. The development site has a wide opening to the road and is one of the few remaining with a view of the park. Upon completion, the building is expected to comprise 11,100 sqm of above ground space spread over seven floors. The development is currently at conceptual phase. Year of completion: - GBA estimated 11,000 sqm.

One minute walk from the International Airport of Bucharest, ca. 10 km from the heart of Bucharest, Aviators Park is easily accessible by plane, by car both from Bucharest, Otopeni and Ploiesti, by means of public transportation (express busses 780 and 783, Express Train and the future Metro line 6). Aviators Park will host a 4 star international hotel with approximately 200 rooms and ca. 18,700 sqm office space in four distinct buildings, with floor plates varying from 800-4,500 sqm and with office spaces from 120 sqm. Delivery: 2017

Magheru One, a seven-storied building with high-class equipment, a modern proportion of rentable units, a great roof terrace and having the best location in the city hosts offices and shops. The building has a total rentable area of ca. 4,000 sqm, and for offices, each floor of ca. 477 sqm can be split in ca. 170 sqm and 306 sqm. You can find here well-known local and international tenants as Digi, Libra Bank, Epstein, Hochland, etc.

Pipera Business Tower is a landmark building of Dimitrie Pompeiu Bd. The floor plans have been conceived in such way as to permit a partition into bigger or smaller renting units. Rentable spaces are available starting with 250 sqm. The building has about 13,300 rentable square meters and 13 floors. Our tenants here are: Unicredit Bank, PHD Delivery, Wu Xing, Lidl, Mazars, Coconet, I-Forex, Star Storage, Agility, Union Otel, Wabag, Porr, Voith, Rinf.

The building, having ca. 750 sqm is placed in a quiet residential area in Northern Bucharest, close to downtown. There is a big network of public transportation in Charles de Gaulle Square (metro station, bus stations, express line for airport, taxis). Otopeni Aiport can be reached by car in only 20-25 minutes and is close to downtown (Romana, Victoriei, Universitatii and Unirii Squares) by car in about 5 to 10 min, depending on the traffic. As tenants we have GTC, AMB Wine Company and Nichifor Consulting.

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Global City Business Park 10 Bucharest North Road, Building O21, 10th floor, Voluntari, Ilfov – Romania Tel: +40 21 310 11 00 www.globalcity.ro

Green Gate S Holding Group 22 Tudor Vladimirescu Blvd. 050883 - Bucharest giafer@green-gate.info novakova@green-gate.info www.green-gate.info

Sema Parc New Project 319 Splaiul Independentei, OB 5 District 6, Bucharest Tel/Fax:+40-021-313 20 94/ +40-021-313 20 99 www.semanewproject.ro

SkyTower Skytower Building SRL Bucharest, 246C Calea Floreasca, 1st Floor, District 1 Tel.: +40 317 114 030 Letting Manager Bogdan Deju T: +40 317 114 040 M: 0784 222 888 bogdan.deju@rphinternational.com

City Gate GTC Romania 3 Jean Texier St., Bucharest +40 21 231 65 52 maria.b@gtcromania.ro www.gtcromania.ro

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56,000 sqm built area and 51,000 sqm gross leasable area of Class A offices spread over two buildings situated in a park like landscaped setting with emphasis on a high quality, functional and pleasant work environment. The two office buildings are designed to afford flexible floor plates ranging from 1,400 sqm to 3,400 sqm in size. Global City Business Park aims to be: a Positive Energetic Center for efficient business; a meeting place for tenants with global recognition and global impact; a complete mix of resources and services; a business center with distinctively designed office spaces.

Green Gate was built by incorporating the latest specifications and high-end interior design into one flexible space. Tenants requirements can be met to accommodate an open floor environments well as individual office units. A typical floor is approximately 2,400 square metres, and as it is organized around a single core, it can also be easily and very efficiently divided into up to 6 separate tenancies. Due to it’s shape and depth, all office spaces benefit from natural light. Total office space: 27,000 sqm.

Sema New Project is the biggest urban conversion of the former industrial area, type of mixed-use project involving the development of the following and directions: the business park comprising Class A office buildings, the commercial area of „shopping village”, the residential assembly, buildings for social services (school, hospital, city hall, etc.).

Rising 37 floors high, the SkyTower redefines the skyline of the City of Bucharest. This powerful new landmark introduces a completely new business perspective and is designed to attract corporate tenants looking for premium quality, maximum space flexibility, innovative architecture, excellent location and perfect visibility for their offices. The SkyTower provides state of the art office spaces (41,200 sqm – rentable area) with unique panoramic views over Bucharest, a first class restaurant with a skybar, a conference area on the top floors and a prime location in the North of Bucharest.

City Gate is one of the best performing office projects in the Romanian capital. The building, now owned 100% by GTC, has a total rental space of 44,000 sqm and is located in the most prestigious business district of Bucharest. The complex includes retail space on the ground floor, two eighteen-storey towers, and a three-level underground garage providing nearly 1,000 parking spaces. City Gate Towers are located in downtown Bucharest, at Piata Montreal. GTC also acquired two modern A-class office buildings in Bucharest, Romania. Premium Plaza and Premium Point increased GTC’s Romanian portfolio by 15,000 sq. m of net leasable area.

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Floreasca Cube 169 Calea Floreasca, X Building, District 1, Bucharest Information: +40 720 990 975 office@floreascacube.com mihaela.matei@yahoo.com www.floreascacube.com

Ethos House Ethos House 240B Calea Floreasca St. Bucharest, Romania +40 21 233 9366 office@ethoshouse.ro

The Grand Offices Societatea Companiilor Hoteliere Grand SRL 90 Calea 13 Septembrie St. District 5 RO – 050726 Bucharest Oana Mocanu Sales and Marketing Manager Tel: +40 (21) 403 40 98 oana.mocanu@grandhotel.ro

CBC-Office 3 Nerva Traian St, M101 building, District 3, Bucharest Tel. +40 21 31.03.011 Fax +40 21 31.03.035 office@cbc-office.ro www.cbc-office.ro

International Business Center 34-36 Carol I Blvd. District 2, Bucharest Tel. +4021 317 30 61 Fax +4021 317 30 63 www.ibc-modern.ro

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Floreasca Cube offers alternative workplace solutions to professionals and companies, seeking risk-free ways of investing and operating in today’s ever-changing business climate. Situated in Floreasca, the heart of the new business area of Bucharest, in a prestigious building overlooking Promenada Mall, our aim is to provide a highly professional and flexible working environment, tailored to our clients’ individual needs. From short term serviced offices, stylish and fully equipped meeting rooms, secretarial & administration services to new corporate trends such as our hot-desking, and virtual office services, the advantage of Floreasca Cube is that it allows you to operate efficiently however and whenever you choose.

Ethos House is the new iconic landmark in the new Bucharest business district, adjacent to Floreasca Lake, located adjacent to Floreasca Lake in the new Bucharest business district, Calea Floreasca street no. 240B - 200 meters to Promenada Mall. The design is influenced by the Florentine Renaissance. 8,000 sqm Office Space Groundfloor + 7 Floors; 2 Underground Parkings; 2 Elevators x 17 persons each; 100 m lakefront with park.

The Grand Offices represent the ideal combination of comfort, flexibility and style, wide space and ergonomy in a unique setting. The office levels are ideal for both large and small space users and are prepared for immediate occupancy. 11.000 sqm office space distri buted on 10 floors; Floor plates from 24 sqm up to 1.200 sqm; Room heights ranging from 2,70 – 3,80 m; Complete range of in-house services as meeting rooms for rent, hotel catering, shopping gallery, restaurants etc.; 499 secured parking lots inside the building and outside; 24 hours office reception.

CBC is a A class office building located in the heart of Bucharest on Nerva Traian Street. Overlooking the upcoming Esplanade commercial area it is one of Bucharest’s most eminent viewpoints. Built on 15,600 sqm and with a net leasable area amounts to 13.900 sqm expanded on G+11F. Located on the intersection of Nerva Traian Street with busy Blvd. Unirii, CBC lies at the crossroads of two magistrales crossing Bucharest’s city. The newly built Pasaj Marasesti due to open late 2007 will bring additional visibility the building and easiness in accessing the location.

International Business Center Modern, a modern fourteen storey building with a distinctive facade is located in the heart of the city and allows both small and large companies to create a professional business image. International Business Center Modern offers 7,500 sqm open office spaces with flexible layout to suit every requirement. Unit size can vary from 60 to 800 sqm / floor. An off site parking area just behind the building accommodates about 120 vehicles.

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FORTE Partners brings together a holistic and well-rounded blend of talents, capabilities and competencies to the forefront of real estate investment, development and successful exit in Romania, all under one roof. All those in FORTE Partners have a successful track record as pioneers in the Romanian market with exits of over 100 million EUR to international investors. Projects – Stefan Cel Mare Building, rentable area 8,000 sq m, availabilty September 2016; The Bridge, Phase 1, a building with a gross lettable area of 36,189 sq. m. The estimated delivery date for this construction is September 2017. Up to 57,000 sq m rentable area in two phases.

Ownership: 100%; Lettable area: 36,200 sq m; Valuation: €103 million; Passing rent: €7.4 million; Major tenants: Berlin Chemie, BGP Products, Colliers, Daikin, DHL, Exxon Mobil, Federal Mogul, General Electric, Holcim, L’Oreal, Lenovo, Mars, Regus, Royal Canin, Sandoz, Wipro; Contact: Marius Barbu, mbarbu@nepinvest.com, +40 722 338 973; Bucharest, Romania. Website: floreascabusinesspark.ro

Ownership: 100%; Lettable area: 25,600 sqm; Valuation: €67 million; Passing rent: €5.1 million; Major tenants: Abbvie, Alcon, Huawei, LeasePlan, Novartis, Philips, PricewaterhouseCoopers; Contact: Marius Barbu, mbarbu@nepinvest.com, +40 722 338 973; Bucharest, Romania.Website: thelakeview.ro

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The Bridge FORTE Partners 240 B Calea Floreasca, 6th floor, Bucharest, Sector 2, Romania Phone: +40 31 425 10 14 office@fortepartners.ro

Floreasca Business Park NEPI Investment Management SA 301-311 Barbu Vacarescu, 3rd floor, Bucharest 2, 020276 Phone: +40 21 232 13 98 Email: officero@nepinvest.com

The Lakeview NEPI Investment Management SA 301-311 Barbu Vacarescu, 3rd floor, Bucharest 2, 020276 Phone: +40 21 232 13 98 Email: officero@nepinvest.com

Ownership: 100%; Lettable area: 47.100 sqm; Valuation: €92.1 million; Passing rent: €7.3 million; Major tenants: 3Pillar Global, Accenture, Alcatel, Autoliv, Bosch, Deloitte, Ernst&Young, Generali, Hella, IBM, Maerz Ofenbau, OMV Petrom, Raiffeisen Bank, Toluna, UniCredit Tiriac Bank, Visma, Wipro; Contact: Marius Barbu, mbarbu@ nepinvest.com, +40 722 338 973; Timis, Romania. Website: businesscentre.ro

City Business Centre

Ownership: 50%; Lettable area: 40,700 sq m; Valuation: €72 million; Passing rent: €5.4 million; Major tenants: 3Pillar Global, Betfair, Bombardier, Bosch, Corporate Office Solutions (COS), Deloitte, Ernst&Young, HP, Leoni, Lohika Systems, National Instruments, TUI, Wolters Kluwer, Yardi, Yonder; Contact: Marius Barbu, mbarbu@nepinvest.com, +40 722 338 973; Cluj, Romania. Website: business-centre.ro

The Office

NEPI Investment Management SA 301-311 Barbu Vacarescu, 3rd floor, Bucharest 2, 020276 Phone: +40 21 232 13 98 Email: officero@nepinvest.com

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Dem Dobrescu Primavera Development 22-26 Siriului Street, 6th floor, District 1 Bucharest Tel: +40 21 300 88 02 Fax: +40 21 300 88 03 info@primavera-development.ro www.primavera-development.ro

Located in the heart of Bucharest, this unique office building stands out through its architecture, being at the same time a symbol of the 1989 Revolution and an icon of urban renewal. The unicity of the actual design of the office building resulted from the historical heritage of the location. The transparency and color of the building is impressively outlined by the ruin facade which remained after the fire and the shootings during the Revolution and which was carefully restored according to original plans.

Frumoasa 30 Primavera Development 22-26 Siriului Street, 6th floor, District 1 Bucharest Tel: +40 21 300 88 02 Fax: +40 21 300 88 03 info@primavera-development.ro www.primavera-development.ro

Frumoasa 30 represents a new, modern office building, strategically located in the heart of Bucharest, close to Victoriei Square, with easy access directly from Victoriei Boulevard. The building combines an attractive architectural design with high quality specifications, efficient design and optimal flexibility. Frumoasa 30 offers to its tenants 44 underground parking places and 3,200 sq m rentable area of „A” class office accommodation and associated services.

CSDA Siriului Primavera Development 22-26 Siriului Street, 6th floor, District 1 Bucharest Tel: +40 21 300 88 02 Fax: +40 21 300 88 03 info@primavera-development.ro www.primavera-development.ro

Business Forum Pitesti Cristina Dumitru, Administrator: +40 734 459 008 receptie.caf@gic.ro www.businessforumpitesti.ro

The purpose of the CSDA Siriului is to create a dynamic and productive environment wherein the tenants can focus on operations, production and marketing, by allowing the center to handle administrative details and overhead problems. CSDA Siriului comprises of 3,500 sqm rentable area of „A” class office accommodation over 6 levels. It makes intelligent use of space with over 650 sq m floor plates carefully designed to maximize efficiency and work flexibility.

Business Forum Pitesti is an A+ office center located in the central area of Pitesti, at the intersection between I.C. Bratianu Blvd. and Calea Bucuresti. Advantages: easily accessible from town or from the A2 highway, modern concept and design oriented towards business efficiency and customers’ needs, supporting business services located within the building on nearby (e.g. notary, admin, IT, etc.), extended flexibility in defining the layout in accordance to customers’ needs, detailed and accurate metering of the energy and utilities consumption for each of the office or business space, energy efficient building, secure parking- 220 cars - Coffee shop and Restaurant – SPA& Wellness, fitness, squash, indoor swimming pool.

CSDA Bornemisza Primavera Development 22-26 Siriului Street, 6th floor, District 1 Bucharest Tel: +40 21 300 88 02 Fax: +40 21 300 88 03 info@primavera-development.ro www.primavera-development.ro

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CSDA Bornemisza is located near the main square of the city and only 2 minutes away from the Citadel, in the heart of the touristic centre of Tirgu Mures with high exposure especially to the pedestrian touristic flow. CSDA Bornemisza is one of the most prestigious buildings in the city with a rich historical heritage. The house was built in the late baroque style in the 1800’s by the Bornemisza Family. The building has 3,200 sq m structured on BS + GF + 2 FL.

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Bența Office Building is a first-class office building, considering its location, access, specific design and building administration. The execution works for the office building located on Pandurilor Boulevard in Tirgu Mures will be finalized in October 2015, adding up to a gross building area of approximately 23,240 sqm. The developer and owner of the office building is RCB Development Office SA, owned by entrepreneur Remus Aurel Bența.

Located next to “Socola Boulevard” and 5 minutes away from The Palace of Culture Iasi is the ideal place to develop a successful business. Nicolina Business Center is one of the first office buildings in Iasi and has 3,700 sqm distributed evenly over 9 levels of height. The location offers a healthy environment with fully natural light, conference room, dining area, 80 parking places and technical features that meet the needs of each exigent tenant. In the last 8 years the building has housed Unicredit Business Integrated Solutions.

Multinvest Business Center is the first green office building, created with innovative technologies, right in the center of Tirgu Mures. With a Class A+ energy performance, the office center is a Green Project incubator, with a Breeam Certificate for environmental sustainability. The gross built area of 4,001.68 sq m offers high standard offices with green terraces for distinguished tenants.

Multinvest Business Center 2, the property of Multinvest Group is the second green office building in the city of Tirgu Mures, designed to offer exceptional conditions for tenants who desire high standard and quality workspaces. With a great location, easy access to all means of transport and only few minutes from the city center, the building offers excellent panorama over the area and offices which benefit of full natural light. MBC2 outstands with its environmental friendly construction and trendsetting facilities.

MOLDOVA CENTER is an A Class office building with a retail component, located in Iasi City Center. Combining tradition and modernity, the project is a true landmark of the area and the first office center in Iasi to adopt most up-to date green technologies. It has an impressive total gross leasable area of 14,500 sqm, with 11,600 sqm of high specification office area (five floors). The retail component can easily be transformed into office spaces upon request. The building will be completed this year with standard utilities for a Class A+ building.

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Bența Office Building RCB Development Office 44-46 Pandurilor Boulevard Tirgu Mures office@bentaimobiliare.ro

Nicolina Business Center COMPLEX HOTELIER UNIREA 5 Unirii Square 700056, Iasi T: +40-232 205 020 M: +40-720 575 000 gabriela.ferent@hotelunirea.ro

Multinvest Business Center Multinvest 67 Gheorghe Doja street Tirgu Mures, Mures county T: + 40 265 250 432 office@multinvest.ro www.multinvest.ro

Multinvest Business Center 2 Multinvest 67 Gheorghe Doja street Tirgu Mures, Mures county T: + 40 265 250 432 office@multinvest.ro www.multinvest.ro

Moldova Center 1 Palat street,700019 Iasi T: +40 232 262 208 office@moldovacenter.ro www.moldovacenter.ro

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Cluj Business Center 400616 Cluj-Napoca, 44-46 Henri Barbusse +40 (264) 437 379 office@clujbusinesscenter.eu

Maestro Business Center SC Omniconstruct SA Blvd. 21 Decembrie 1989, no. 104, entrance 3, 4th floor T: +40 264 441255 office@omniconstruct.ro

SILVER Business Center SC REAL ESTATE SPECIALIST SRL Cluj-Napoca 48 Dorobantilor Street 6th Floor T: +40 364 435 0267 www.silver-business-center.ro

Cluj Business Center offers A class offices, open space, surfaces between 1.000 sqm on 1-5th floor , and 500 sqm at ground floor and 6-7 floors. Each area benefits from natural light. Gross built area of the project is 51.678 sqm. Cluj Business Center also offers parking spaces, restaurant, fitness, kindergarten, retail space, private school, etc. The project is now under a new phase of extension / development.

Maestro Business Center has become a reference point on the officespace market in 2006, in Cluj-Napoca, offering for the first time Class A standards and facilities. The building is a vertical unfoldment on the ground floor + 9 floors with offices and an underground level where the parking garage of the building is located. The average area per level is 993 sq m for the lower floors, decreasing to 750 sq m – 500 sq m on the upper floors, and the unfolded area exceeds 10,000 sq m.

SILVER Business Center located in an area considered “the pole of business and office spaces” in Cluj-Napoca, due to the fact that all the most important class A office buildings are located here – is a modern class A office building developed in accordance with the high standards for office buildings (BOMA - Building Owner and Managers Association) and specifically designed to provide its tenants complete quality services. Total office area: 3,567 sqm.

Tudor Office Center 126-128 Ciurchi, Iasi T: +40 232 252 512 M: +40 722 613 527 E: office@tent-co.ro www.tudor-center.ro

IDEO SC TESTER GRUP SRL No. 138 Sos. Pacurari, 700525 Iasi County, Romania T: +4 0232 254 336 E: liliana.stroia@ideo.com.ro www.ideo.com.ro

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Tudor Office Center: A class office building located in Iasi, finished in 2009, with a total of 6,358 sqm GLA 8 levels, available on 126128 Ciurchi street, only 10 minutes walk from the Iulius Mall and the campus „Tudor Vladim irescu”. Developed by Tent -Co.

Ideo is the most modern Business Development Support Center from Iasi. The Center has a total area of about 11,000 sqm and includes office spaces Class A +, training halls and conference rooms, a kindergarten & a school, restaurant and a generous parking lot with 300 parking places. At the same time, it offers a rental office sharing system, a novelty in Iasi, that covers the space, the furniture and the internet connection. The project also offers the opportunity to rent offices for just a day.

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Brasov Business Park is the only full service class A office building in Brasov and the top location for events, conferences and meetings, with outstanding facilities and catering in a superb setting. Located along the Calea Bucuresti and the Saturn Boulevard with very easy access, Phase 1 offers 26,000 sqm of office space, retail area and a business center. With tenants like Arvato (Bertelsmann Group), Atos IT Solutions and Services, Europharm Holding, Exelia (Intesa SanPaolo), Heineken, Weidmueller, Brasov Business Park has created a working platform for more than 1,100 people. As planned, Phase 2 will consist of additional 20,000 square meters of office space and retail area with supporting services for offices.

Located at 133 Calea Serban Voda, in the central area of the Capital, Central Business Park has access to the municipal improvements made in the area. It lies close to the intersection of the boulevards Dimitrie Cantemir, Gheorghe Sincai and Tineretului and a few steps away from the Tineretului Park and the Carol Park. The business center provides office spaces for rent in Bucharest downtown, aprox. 13.600 mp.

Coresi Business Park is at the core of Brasov’s new district, CORESI, one of the major urban regeneration projects in Romania, transforming the former Tractorul industrial platform. The master plan features a well-balanced mix of industrial halls, office conversions and new built offices, envisioning 100,000 sq m of office GLA within 10 years, on the 12 ha of the business park. The initial phase of Coresi Business Park consists of almost 25,000 sq m GLA. The office area is enhanced by complementary functions such as a modern canteen, a clinic and a gym, as well as the largest park in the city and extensive public sport facilities, adjacent to the development.

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Brasov Business Park Ravensdale Investments S.R.L. 1 Ionescu Crum St., Brasov Business Park Brasov, Romania Tel: 0040 368 003 388 office@brasovbusinesspark.com

Central Business Park Arta Grafica +40 21 306 61 00 marcel.dan@artagrafica.ro www.artagrafica.ro

Coresi Business Park Ascenta Management 2 Aleea Alexandru, 011823, Bucharest, ROMANIA T: + 40-212-104-089 5 Turnului Street, 500152, Brasov, ROMANIA M: + 40-730-077-007 T: + 40-268-548-175 lettings@coresibusinesspark.ro www.coresibusinesspark.ro

America House One of the largest multifunctional business centers, a true landmark, America House is located in the center of most prestigious business district of Bucharest - Victoriei Square. The building has a total office rentable area of 27.000 sqm, 37 parking spaces behind the building and 360 cars can be parked underground. America House has 9 elevators, restaurants and coffee shops and a World Class fitness center. 2014 BREEAM* appreciation: „Very Good”.

RAMS Business Center is an A class office building located in the proximity of Cora Pantelimon Hypermarket, offering an important advantage to those used to late working hours. The modern architecture, the exquisite design, the quality of the materials and finishings, all being designed and built for an A class building, contribute to the RAMS CENTER tenants’ comfort and image, ensuring a pleasant and civilized environment for the persons working or visiting this building. Total office area: aprox. 11,800 sqm.

AEW Europe 4-8 Nicolae Titulescu Boulevard, America House, West Wing 7th Floor | 011141 Bucharest Nicoleta Toma - Asset Manager T: +40 314 251 494 M: +40 766 478 129 nicoleta.toma@aeweurope.com www.america-house.ro

RAMS Business Center Mobil : +4 0720.212.000 Tel: +4 021.255.36.45 office@ramsbusinesspark.ro www.ramsbusinesspark.ro

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United Business Center part of Iulius Group Romania, Iaşi, postal code 700051 Palas street, no. 7A, A1 building, 2nd floor T: +40 232 209 870 F: +40 232 209 869 www.unitedbusinesscenter.ro

Iulius Business Center No. 53 B Al. Vaida Voievod Street, Cluj-Napoca T: +40 264 206 400 F: +40 264 206 444 www.unitedbusinesscenter.ro

United Business Center Tower No. 51 Al. Vaida Voievod Street, Cluj-Napoca T: +40 264 206 453 F: +40 264 206 453 www.unitedbusinesscenter.ro

United Business Center Timişoara Openville Timişoara No. 1 Demetriade Street, Timişoara T: +40 256 401 604 F: +40 256 401 630 office@openville.ro www.openville.ro

Crystal Tower 48 Iancu de Hunedoara Blvd District 1, 011745 Bucharest, ROMANIA Phone: +4 021 316 4018; office @ crystaltower.ro www.crystaltower.ro

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Opened in 2010, United Business Center Iași includes four fully operational class A office buildings, being an integral part of the Palas multifunctional urban ensemble, the first lifestyle complex in Romania that was developed by the Iulius company group. Located in the ultracentral area of Iaşi, United Business Center is the regional business pole for the IT and Outsourcing industry, comprising over 45 national and multinational companies with 3,000 employees in its leasable area of approximately 38,000 sqm. A fifth office building, with a 15,000 sqm leasable area, is available starting 2016.

Iulius Business Center, located in the immediate vicinity of Iulius Mall Cluj, in the Gheorgheni neighborhood, is the first class A office building in the Iulius company group portfolio and was opened in 2008. Iulius Business Center has a leasable area of 7,400 sqm and currently accommodates 900 employees. Iulius Business Center is a part of the Iulius Development project alongside Iulius Mall Cluj, Iulius Park and United Business Center Tower.

United Business Center Tower, opened in the autumn of 2014, is located in the immediate vicinity of the Gheorgheni Lake, close to Iulius Mall Cluj and the Faculty of Economic Sciences and Business Administration of the Babeş-Bolyai University. With a distinctive architecture and elegant interior finishes, the building fulfills all the class A particularities, providing an environment that is perfectly adapted to the tenants’ needs. United Business Center Tower has a leasable area of 10,000 sqm, accommodating 1,100 employees. United Business Center Tower is a part of the Iulius Development project alongside Iulius Mall Cluj, Iulius Park and Iulius Business Center.

In Timişoara, United Business Center is an integral part of the mixed use Openville project, which will connect the historical center of the city to the largest regional shopping mall, Iulius Mall Timişoara. The office component will include a leasable area of 131,000 sqm distributed in seven class A office buildings and that will accommodate approximately 13,500 people. The construction works are set to begin this autumn. The first development stage for this project will encompass opening 33,000 sqm of office spaces by the end of 2016, distributed in two office buildings, namely United Business Center 1 (14,500 sqm) and United Business Center 2 (18,500 sqm). The ensemble will be fully completed during the last quarter of 2017.

Romania, Bucharest Real Estate Offices To Let - 16,200 sqm rentable surface, office building located close to Victoriei Square, 4BS+GF+14 floors+ technical floor, great visibility, eminently suitable as corporate headquarters building, open space, modern and spacious reception area, a highly attractive entrance & lobby, double height entrances, visitors entrance adds to the prestige and quality of the development due to the choice of high quality and durable materials, heliport on the top floor.

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Sibiu Business Center is providing Class A offices in a building with eight high speed elevators with functional and architectural specification and flexibility in terms of partitioning capabilities. The investment is located at the junction of Calea Dumbravii and Nicolae Olachus Blvd., two of the main access routes from downtown to the southern area of Sibiu, and also from the western area of the city to downtown. It is also easily accessible by means of public transportation, such as buses from all areas of the city, and it has 12,500 sqm leasable area.

OPTICA Business Park is located in the immediate vicinity of Timisoaraâ&#x20AC;&#x2122;s industrial area, on 11 A Calea Buziasului and offers very good quality office space. Due to the location of the building with direct frontage to Calea Buziasului, OPTICA Business Park ensures high visibility and excellent accessibility. The business park occupies a land plot of 45,300 sq m, and will have a total built area of 50,000 sq m. The buildings are designed to provide a flexible office environment.

Tradecenter has a total lettable area of ca 9.486 sq m, high class office space, U +GF+ 5F, in formed by five floors, therefore it offers an excellent panorama over the area, having a green spaces of ca. 3.768 sqm, benefitting from natural light and easy access to all means of transportation. Tradecenter Oradea comes in support of local and regional business environment through a new office building, modern, with all the equipment and facilities required: reception, 3 conference rooms, with a capacity of 400 seats, movable and flexible walls. The exhibition area has a total of 2,250.90 sqm.

Liberty Technology Park Cluj, the first technological park in Romania, a park for creative ideas built in a revolutionary place designed to offer exceptional growth and quality environment for companies in the IT&C and R&D domains, all in one unique area both conceptually and architecturally. The first two phases of the project imply the redevelopment of the existing buildings in a space destined for the flexible arrangement of your offices but also for offering premium facilities for companies in the IT&C and R&D domains. The park has nearly 46,880 sq m, offering the ideal tech habitat.

Cluj Innovation Park is the company created by the City Council of Cluj-Napoca which coordinates and develops the Regional Center of Excellence for Creative Industries (CREIC) and the Center for Technology, Evolution, Entrepreneurship and Microenterprises (TEAM). Both centers located in the Lomb area of Cluj offer logistic services and integrated solutions for businesses, in the same time creating an innovative and attractive environment. Besides the large variety of facilities, Cluj Innovation Park also hosts the only film studio in Transylvania.

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Centrul de afaceri Sibiu SC Transcar International SRL 112 Alba Iulia Road, Sibiu office@centruldeafacerisibiu.ro www.centruldeafacerisibiu.ro

Optica Business Park Bega Group 1-3 Marasesti, Timisoara bega@begagrup.ro www.bega.ro

Tradecenter Oradea TRADECENTER SRL Nufarului Street, nr 28 E Oradea Bihor County, 410583, Romania Tel: +40 359 422 200 Fax: +40 359 423 333 E-mail: receptie@tradecenteroradea. ro

Liberty Technology Park Cluj 21 Garii Street, Cluj-Napoca Tel.: +40 (264) 435 362 office@libertytechpark.ro www.libertytechpark.ro

Cluj Innovation Park Romania, 400021, Cluj-Napoca 2/16 F.D. Roosevelt Street Tel/Fax: +40 264 450 320 office@clujinnovationpark.ro www.clujinnovationpark.ro

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Art Business Center 5 ArtGroup INT 71-73 Nicolae Caranfil, 5th floor ionut.duca@artgroup.ro www. artgroup.ro

Enescu Office Building Benjamin Franklin Street, no. 7, 1st floor, Bucharest Phone: +4 031 640 6400/01/02 www.jupitercity.ro

HBC Pallady ESK INVEST CONSULTING 47 Theodor Pallady bd., district 3, Bucharest Phone : + 40 21 345.28.65 Email : office@hbcdevelopment.ro

The Landmark PROIECT BUCURESTI 246C Calea Floreasca, Sky Tower Building, 9th floor, District 1, 014476, Bucharest Telefon:+40 37 206 91 00 Email: office@pb.ro

Metropolis Soravia Management 89-97 Grigore Alexandrescu St Metropolis Center, East Wing 3rd Floor, Sector 1, Bucharest Phone: +40 21 230 13 34 E-mail: office(at)soravia.ro Lorenz Tragatschnig l.tragatschnig(at)soravia.at

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Art Business Center 5 is a recently completed office building offering approximately 8,825 sq m. The tenants benefit from a wide range of services in the vicinity of the building, such as hotel, restaurants, cafes and a Carrefour Express Supermarket is located on the ground floor of the buildings. Herastrau Park and Lake is located a short distance to the South of the building. Art Business Center 5 is located on Nicolae Caranfil Street within few minutes walking distance from Herastrau Park.

The property is situated in the central area of Bucharest, very close to Amzei grocery market, occupying a corner position between George Enescu and Intrarea Biserica Alba streets; George Enescu is a one-way access street, which links Magheru Blvd. with Calea Victoriei, one of the most desired areas of Bucharest; It is located in Center of Bucharest, the wealthiest sector, it consist mainly of residential district, large blvdsâ&#x20AC;&#x2122;, high office towers, shopping galleries, restaurants, parks and lakes. Total available office space: 5,300 sq m.

HBC - Helios Business Center is located In the south-east of Bucharest, in a growing area located with easy access to all means of transportation, including subway stations, located right in front of the building. HBC is a impressive building summing up to a total surface of 20,000 square meters which is divided in two phases: the first phase â&#x20AC;&#x201C; 8,000 square meters representing offices, commercial spaces and showrooms. The second phase will be finalized in 2017, covers an additional area of 12,000 square meters for offices and commercial spaces as well.

The Landmark is an A-Class office complex excellently situated in close proximity of the central business district of Bucharest, near Romana Square. Its location in a historically preserved central area offers the benefits of easy access by car and by all kind of public transport in a quiet, low-rise and green neighborhood. The Landmark business complex is composed of three separated 7-storey buildings rising over a general 3-storey basement parking. The office complex will provide A-class office spaces, as well as commercial services on the ground floor and first basement level. Total available office space: 18,879 sq m.

With Metropolis, it is worth looking behind the facade. Behind the walls of this listed building is one of the most attractive and interesting multifunctional building complexes in the center of Bucharest. Not far from the Romanian Government headquarters and in close proximity to many embassies and corporate headquarters, the Metropolis Center not only provides high-quality office and retail space, but since May 2014 also additional 5,500 sqm of class B+ office premises at very attractive rental prices

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Day Tower will offer tenants some of the highest quality office space in Unirii Square, the most central and remarkable location in Bucharest. It is a modern and functional class A office building with 8 storeys and a four-level underground car parking, currently under development on Unirii Boulevard. Leasing a space in Day Tower ensures a higher comfort for all employees, guarantees an outstanding corporate visibility and creates top-notch working standards. Premium space ranging from 700 sq.m. to 11,600 sq.m. will be available.

Euro Tower is a prominent modern office building located fronting one of Bucharest’s main arterial routes, Barbu Vacarescu, benefitting from a striking design of a glazed, curtain wall façade. The building comprises a tower extending to 18 levels above ground floor which includes approximately 16,500 sq m of leasable area. A number of restaurants and retail services are located in close proximity particularly around the intersection with Stefan cel Mare Boulevard a short walking distance from the property.

Excelsior is an A-class office building, structured 2B + GF +12 F, with approximately 7,500 sqm of GLA. Excelsior Business Center is located in the center of Bucharest, Universitate, with the neighborliness of Palace Hall, Victoria and Athenee Palace Hilton. Due to the location, the office building enjoys easy access to public transportation, including the Metro. The project is a property of Ashtrom Group, along with Union Building in Bucharest. The Ashtrom Group, one of Israel’s leading construction and property companies, has dedicated itself to the provision of professional, comprehensive, and all-inclusive solutions for all its customers.

Office building located in Bucharest Floreasca-Barbu Vacarescu area. Great infrastructure, exceptionally easy access by public and private transportation and the green surroundings of nearby Lake Floreasca make Floreasca Tower the perfect location for today’s modern business environment. The building has 13 floors, underground parking and a total rentable area of 7,600 sqm. Uniqa Real Estate Management has acquired Floreasca Tower in 2005 from Raiffeisen Evolution and refurbished the entire project to be reopened in 2014. The UNIQA Real Estate Management GmbH is a 100% subsidiary of UNIQA Insurance Group and is responsible for the real estate investments of the UNIQA Group.

Phoenix Tower is a recently refurbished office building comprising a total leasable area of 10,500 sq m on ground and 12 upper floors. The building enjoys a prominent location at the intersection of 4 major roads and with a large glazed frontage has large exposure to passing traffic. Dedicated car parking is provided for tenants by way of dedicated basement car parking and also surface level spaces immediately adjacent.

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Day Tower 20-22, Ramnicu Valcea Street, ground floor, District 3, Bucharest Tel: +4 021.337.13.13 office@dayconstruct.ro www.daygroup.ro

Euro Tower Cascade Group T: +40 21 222 0232 www.cascadegroup.ro

Ashtrom Group Ashtrom Headquarters Yona Kremnitzky 10, Tel Aviv 6789910 Phone 972-3-6231212 Fax 972-3-6231401 www.ashtrom.co.il

Floreasca Tower UNIQA Real Estate Management GmbH Untere Donaustraße 21 A-1029 Wien Tel .: (+43 1) 214 24 22-0 Email: real-estate@uniqa.at

Phoenix Tower 850 3rd Avenue, Suite 13-D, New York, NY 10022 TEL: 646.439.6000 info@adamamericare.com www.adamamericare.com

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HQ Victoriei ÓBUDA GROUP 1033 Budapest, Hévízi út 3/A T | +36 1 250 0105 info@obudagroup.hu www.obudagroup.hu

World Trade Center Bucharest 10 Montreal Square, District 1, Bucharest Phone: 40 21 202 44 50 meetings@wtcb.ro www.wtcb.ro

Nord City Tower 1/VII Pipera Blvd., Voluntari city, Ilfov, Romania Phone: +40742 029 506 E-mail: office@nordcitytower.ro www.nordcitytower.ro

Avrig St. 3-5 5 Urseanu Vasile, Amiral street, Bucharest, 010666 +40 21.222.88.88 rcalvo@danubepa.com www.danubepropertyfund.com

MG 2 Office Building MULTIGALAXY 11 B Fabrica de Glucoza District 2, Bucharest Phone: +40 21 242 6384 E-mail: avnydaniel@office-building. ro

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HQ Victoriei is one of the highest quality and state-of-the-art A-class office buildings in the downtown of Bucharest. During the development of this uniquely designed and progressive building, we represented the investor from the design phase, obtained the construction permits, managed the general contracting tender, provided Construction supervision and QS services during the construction, and managed the tenant fit-out works and occupancy. GLA – 4,958 SQ M.

The World Trade Center Bucharest is currently showcasing 40,000 square meters of premium mixed-use space – including offices for rent and tenant services – c. 11,000 sq m, a 4 star Pullman Hotel with executive business suites, a world-class conference center, event planning services, in-house catering, retail outlets and restaurants. WTC benefits of a great location, over-looking Herastrau park, just steps away from airport and downtown.

Nord City Tower is one of the most recognizable buildings in PiperaNord area, located close to the city center. The building is suitable for any business domain, providing all the necessary facilities and support for a high standard activity. The building offers office spaces spread over 9 floors, including: modern facilities; high quality services; amenities in close proximity; a constantly developing business area. Nord City Tower provides a total leasable area of 9,693 sq m of office premises located on the ground and 9 upper levels of the building.

Danube Property Advisers draws its experience from the real estate world, banking, legal and technical fields. The team members of Danube Property Advisers have invested over €600 million in Eastern Europe (Czech Republic, Hungary, Poland and Romania) and in Western Europe (Belgium, Germany, Netherlands and Spain). Currently Danube Property Advisers is managing four office buildings located in Bucharest. The total GLA under management is more than 25.000 sq m. Danube Property Advisers is based in Barcelona and Bucharest.

MG2 Building is an A-class office building, designed and built based on green-house concept principles, structured 2B + GF +7 F and offering its tenants the area of over 7,000 sqm. The new A+ class business centre MG2 is located in the northern part of the capital, at 2C G. Constantinescu St., sector 2. The building is highly visible both from Dimitrie Pompei Blvd. and Fabrica de Glucoză Rd. The area that the land is situated in, undergoes a continuous process of development, rehabilitation and functional rearrangement, due to economical-financial factors, proximity to the northern part of the capital and the new residential zone Pipera, as well as due to road access.

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The building benefits from open space areas that can be partitioned as per tenant’s request and can satisfy the complex needs of commercial and office spaces. The intelligent partition of the rentable area and the top central positioning are its main advantages. The location of the building and the proximity to state central agencies facilitate the daily financial and administrative operations of the company. The present building was constructed between 1924 and 1926, in a neoclassical style with baroque accents. GLA: 3,400 sq. m.

Vox Technology Park is a class A office building in Timișoara, featuring 26,000 sqm of prime office space. With floor surfaces ranging from 1,100 to 3,500 sqm, the building is located on Calea Torontalului, close to many key points in the city. The eleven-storey building provides on-site amenities and other connected services: exterior and underground parking lots, a restaurant, cafeteria, a fullyequipped gym and a suspended terrace. A new vision of the ideal workplace is now within reach. Developed by Werk Property Group.

Novis Plaza is a contemporary office building located in the heart of Cluj-Napoca. The A class facilities are offering a wellbeing sensation, built to last and increase your productivity. We are raising your prestige through a unique Atrium, panoramic terraces and welldesigned parking space. Toghether the two units are divided as follows: S+P+3+Terraces(7,879 sqm); S+P+7(6,292 sqm). A suitable approach between architecturally consistency and rent price. Contact us for a well-priced offer!

Sandru Office Building is situated nearby hottest points of interest, metallic structure, with concrete floor, aluminium curtain walls Schuco with Low E windows, security glass, 2 fast elevators, inside arrangements are conformed to A class for office- buildings. 13 underground parking seats, 40 ground parking seats. The materials used and the finishing correspond to PSI requirements of fire- safety, general climate system with hot and cold air throughout the ceiling, the partitions can be made according to the tenant’s wish.

Cristina Business Center is part of Christina Hotel and offers all you need for conducting your business in a modern, pleasant and cosy environment. The building is located in the historical centre of Brasov, close to the most important commercial objectives (Star store, Republicii street), banks (Bancpost, B.C.R., Volksbank, OTP Bank) and institutions (City-Hall, The Prefect’s Office).

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BRATIANU BUSINESS CENTER SC GLOBAL VISION SRL 9B Fabrica de Glucoza Road, Block B, Entrance A, 1st floor, apartment 104, 2nd District, Bucharest Romania Telephone: (+40 21) 316 70 01 office@globalvision.ro

Vox Technology Park 8 Calea Aradului, 9th floor (BOSCH building) 300088 Timisoara Vlad Vela +40 756 051 041 vlad@voxtechnologypark.ro www.voxtechnologypark.ro

Novis Plaza 46 Taietura Turcului, Cluj-Napoca, Romania Bolog Alexandru T:+40 (264) 416 597 M:+40 (722) 757 144 bolog.alexandru@ transilvaniaconstructii.ro www.novisplaza.ro

Sandru Office Building 31 National Road, Iasi T: +40 752 126 931 alin.cretu@eurotex.ro www.sandru.ro

Cristina Business Center CRISTIANA 3A Eroilor Boulevard, Brasov, PC 500007 Phone.: +40.268.476.025, Email: office@cristianabv.ro www.cristianabv.ro

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The Association of Industrial, Technological, Scientific Parks and Business Incubators in Romania (APITSIAR) was founded in Brasov in 2005. e Association currently consists of more than 22 main members. APITSIAR was created to promote and protect the interests of its members, to promote the sustainable development of industrial, technological, scientific parks and business incubators, and to attract investments. APITSIAR is a member of EURADA and IASP.

APITSIAR

InvestRomania is the government organization dedicated to providing professional support and advice to foreign investors in Romania. Whether it’s about opening a new office or an entire manufacturing facility, our expert advice and support services are offered free of charge to organizations wishing to come to Romania. All relevant information regarding institutional data such as procedural transparency, asset declarations and the organization chart can be found at this also online - investromania.gov.ro.

InvestRomania

The Association of Business Service Leaders in Romania (ABSL) is a leading organization representing the business services sector, gathering high profile companies which conduct business in the area of SSC, BPO, ITO, R&D. ABSL’s Romania goal is to lead the Business Service Sector’s expansion and transformation into an integral part of Romania’s economic growth, through dialogue and collaboration within the industry, evaluation of legislative improvement opportunities and recommendations for changes to the Romanian educational system. For all these, ABSL cooperates with central and local authorities.

Romanian Logistics Association, ARILOG is a voluntary not-forprofit professional and educational organization dedicated to promote and develop Romanian Logistics and Supply Chain Industry as well as to increase the visibility of the industry within the Romanian and International Economic world. By this ARILOG contributes to the development and recognition of the professional and educational level of its members and offers at the same time a network of accomplished industry specialists for sharing information, experience and solutions to be identified in helping the industry’s companies (but not only) to improve their activities’ quality, productivity and by this their competitiveness.

ROFMA (Romanian Facility Management Association) is a voluntary not-for-profit professional and educational organization which aims to reunite all professionals from Romania in the fields of property and facility management, to create a single and aligned vision to European level and to offer educational, informational and legal support to its members. ROFMA is a member of the European network, EuroFM.

119 Zizinului St. Brasov, Tel: +40 268 333 674 secretariatulp.apitsiar@gmail.com www.apitsiar.ro

152 Calea Victoriei street, sector 1 Bucharest, postal code 010096 Secretary of State: Tel: +4021 318 50 52, Fax: +4021 316 31 58 E-mail: office@investromania.gov.ro

ABSL Romania Florin Grama, President of the Managing Board florin.grama@absl.ro absl@absl.ro www.absl.ro

ARILOG District 2, Bucharest 020694, Alexandru Radovici Street Oana Nae M: +40 740.19.99.19 Phone/Fax: +40 314.022.578 E-mail: office@arilog.ro www.arilog.ro

ROFMA Europe House 47-53 Lascar Catargiu, 2nd floor Bucharest, Ilfov Phone: +40 733 732 358 cristian.vasiliu@rofma.ro www.rofma.ro

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2016-2017 YEARBOOK: Office, Logistic and Industrial Parks RO & CEE PUBLISHER Ionuț Oprea ionut.oprea@transilvaniabunsiness.ro +40 721 197 559 GENERAL MANAGER PUBLISHING HOUSE Aurelian Grama Sales Manager Alin Bolbos alin.bolbos@transilvaniabusiness.ro Nicolae Pop nicolae.pop@transilvaniabusiness.ro Ionut Tirdea ionut.tirdea@transilvaniabusiness.ro Florin Marcel florin.marcel@transilvaniabusiness.ro Editor: Department Ligia Voro Distribution Manager Atilla Szanto +40 755 044 851 Gabriela Belean +40 756 265 547 Accounting: Lia Pamfilie, Emo Veres +40 265 215 613 Address Transilvania Grup Business SRL 1st Primariei st. Chamber of Commerce , 2nd floor, room 206. P.C. 540026 Targu Mures, Mures County Published by Transilvania Group Business, editor of monthly magazine Transilvania Business. Circulation: 11,000 copies All rights reserved by www.transilvaniabusiness.ro For purchasing additional copies, please send an e-mail to ionut.oprea@transilvaniabusiness.ro ISSN 2068-5424 CREATIVE DIRECTOR Răzvan Matei razvan@iq-design.ro +40 745 354 666

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