2017/2018 Yearbook: Office, Logistic and Industrial Parks in Romania | CEE

Ionut OPREA Publisher

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t is with great pride that we present the 5th edition of this investment guide for Romania, delighted by the courage, vision and hard work of investors and developers, together with all the experts involved in defining, positioning, construction, marketing, leasing and selling premium assets or attracting new investments in a market that has proven in the last few years to be competitive and successful. We started this project in 2013, at first dedicated only to industrial parks, but challenged, inspired and honored by people in the industry, we had the last few years the privilege to include also logistic and office milestone projects in

dedicated chapters and meet the people who are redefying the business models. So what changed since then?

Everything. The market has new leaders in all its sectors, new international investors or developers active here, more transactions, state of the art technologies in recent projects, more focus on client’s needs, green solutions and well-being concepts implemented, a higher interest for regional developments, mixed use schemes on sale, consolidations and global mergers and still a solid pipeline of projects to attract new businesses and redefine areas in cities. A special satisfaction we have every year is to be able to promote

new projects, so you will have the chance to discover new opportunities also in this edition. Deeply honored and grateful by the support of our partners & clients, recently we would dare to name a few of them friends, allow me to especially thank all the companies, leaders and experts in Romania and CEE who helped and sponsored the creation of this collection of yearbooks, to our networking and event partners, in Romania and international ones, and last, but not least, to my team and colleagues from Transilvania Business. Looking forward to the next 5 editions, we wish you successful business in Romania!

the argument

A REDEFINED MARKET

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summary 10

Key macro indicators for Romania

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Redefining office hubs. Productivity with style

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More parks, more business & opportunities

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Market index - industrial

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Market index - office

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key figures 12

• Romania: 2nd largest country in CEE and the largest in SEE in terms of size (the 9th in EU28) and population (the 7th in EU28) • Foreign companies employ a third of the private sector workforce in Romania: approximately 1.2 million people (FIC report Romania) • Almost half of the FDI has been in the industrial sector. These investments are long-term and capital intensive • Forecasted economy growth 2017 – 5.2% (InvestRomania – according to National Commision for Prognosis). GDP in 2016 vs GDP in 2000 – 5x.

• State aid 2014-2020 total budget EUR 1.5 billion (InvestRomania Guide) • 130 direct flights leading to 76 destinations in 31 countries worldwide (InvestRomania Guide) • Bucharest Airports National Company estimates a record number of 13 million passengers on the two airports of the Capital - Bucharest Henri Coanda International Airport and Bucharest-Baneasa Aurel Vlaicu International Airport • Around 75 industrial parks are spread across Romania • At the end of H1 2017, industrial & logistics stock in Romania reached 2.65 million sqm. The largest market remains Bucharest, with almost 1.2 mil. sqm (45%), followed by Timisoara (12% of the stock), Ploiesti – 9%, Brasov – 7% and Pitesti – 6%. (C&W Echinox report) • The vacancy rate continued decreasing towards 2% at a national level, while in Bucharest it reached 2.1% a slight increase compared to the last quarter of 2016 (CBRE H1 report) • Fore H2 2017, more than 400,000 sqm industrial spaces are scheduled to be delivered (C&W Echinox report)

• CTP is confident to surpass its 2017 target for the Romanian portfolio of 700,000 sqm ahead of schedule, and the longer term goal to reach 1 million sqm in Romania by 2018.

• Prime yields - 7.25% retail, 7.50% office, 9.00% industrial • Globalworth Real Estate Investments Ltd. announced the development of Groupe Renault Romania’s new headquarters in Bucharest; on completion (expected in Q1 2019), Groupe Renault will occupy the entire development spanning over 47,000 sqm for a minimum term of 11 years. This is the largest leasing transaction ever recorded in the Bucharest office market.

• The number of employees in Class A and B office buildings in Bucharest was about 240,000 at the end of the first half of the year, up 25% over the past two years, and could reach 250,000 by the end of the year (C&W Echinox report) • By the end of 2017, the modern office space could reach 2.79 million square meters. Office vacancy rate in Bucharest is 11% for Class A and B buildings (CBRE Report) • The rent per square meter and the yield of office buildings in the capital remained stable in this second quarter of 2017, with 18.5 EUR/sqm/month and respectively 7.5% (CBRE Report) • The total value of real estate transactions in Romania reached 485 million euros in the first half of 2017, up 44% over the same period in 2016 (JLL Report) • Real estate investment flows into the Central & Eastern European region rose 17% year-on-year in the first half of 2017 to EUR 5.4 bn, putting 2016’s cycle high of EUR 12.2 bn well in 2017’s range (Colliers H1 Report) WWW.TRANSILVANIABUSINESS.RO

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TRENDS

at the crossroads of 3 great markets (the EU, the CIS states and the Middle East) being connected to world maritime traffic through the Constanta Port at the Black Sea. At the same time, Romania ranks 1st in EU for average peak connection speeds and 6th for 4 Mbps broadband adoption in Q3 2016, according to Akamai’s Q3 2016 State of the internet.

MAKE ROMANIA YOUR NEXT BUSINESS DESTINATION Romania is an established business destination for global investors.

Enjoying a healthy growing economy, with one of the best GDP performances in EU in 2016 (4.9%) and the perspective of maintaining the same upward trend for the current year (5.2 % estimated for 2017), Romania is profiling itself as one of the leading inward FDI recipients in the pool, with EUR 4,081 bn in 2016 (highest value over the last 8 years) up by 18% against the previous year.

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omania has maintained one of the lowest flat tax rate in the region (16%) and EU28, issued generous state aid schemes amounting EURO 1.5 bn by 2020 for supporting investment and job creation, reduced VAT down to 19%, introduced 0% income tax for employees in IT&C and R&D, tax exemption on reinvested profit in new technological equipment, reduced corporate tax from 16% to 0% for the companies specialized in innovation and R&D, 5% dividend tax rate and exemption on land, building and urban planning tax for investments implemented in industrial, scientific or technological park.

We have a business-friendly government, with a powerful Government Program 2017-2020 especially designed to bring growth and development. The VAT will drop down to 18% starting 2019, cut the red tape for alleviating access to fiscal instruments (102 taxes cut), including eliminating all due taxes for operations within the National Office for Trade Register. The income tax will drop from 16% to 10% and the social contributions will drop from

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39.25% to 35% starting 2018.

Foreign companies treat Romania as a hub of competitive workforce with the IT sector as one of the major economic drivers and an enabler to other industries, especially the automotive. The R&D sector, another growth driver is pinning Romania on the map of innovation.

In this respect it’s worth mentioning Bosch’s R&D center in automotive, Porsche’s R&D center for autonomous vehicle technology, Continental’s 2 R&D centers and Renault’s biggest R&D center outside France built in Romania. Furthermore, Daimler is currently producing its state-of-the art 9G-Tronic in Romania.

All these positive aspects are doubled

by Romania’s strategic positioning –

The focus on technical subjects is significant, the number of engineers per capita being higher than in the US, India, China or Russia.

With 5 polytechnic universities, 59 domain specific universities and 174 private colleges, the most successful students tend to pick high tech industries, such as IT, while the local education system supplies over 7,000 IT&C engineers every year. 97% of Romanian high school students learn two or more foreign languages while in secondary education. The predominant languages are English, French, Spanish and German, yet initiatives for teaching Japanese, Nordic languages or the entire Latin language family (Spanish, Italian, French) exist. „Romania, the Government I am part of and definitely InvestRomania are all fully committed to keep Romania a stable country, enjoying a sound economic growth as the only script for further development and growth. Through our Government Program 2017-2020 we prove our full commitment to secure value-added investments that are technologically advanced, innovation intensive, with maximum economic impact.” HarryIlan Laufer, Minister for Business Environment, Commerce and Entrepreneurship

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Vienna

Warsaw

Budapest

Prague

Bucharest

mybusiness myhive Redefining office hubs.

Productivity with style.

Welcome to myhive, your office of the future! A place of communication and cooperation with a friendly atmosphere, first-class infrastructure and comprehensive service: from the concierge and the business networking lounge to the provision of goods and services for your day-to-day requirements. All you need for your company’s success and your personal well-being at your workplace: myhive locations in Bucharest.

More information at www.myhive-offices.com

An IMMOFINANZ brand.

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OFFICE

THE OFFICE OF THE FUTURE: FROM WORK SPACE TO LIVING SPACE On today’s highly dynamic and competitive labour market, focusing on the needs and wellbeing of employees is a crucial aspect when trying to attract and keep talent. And office spaces play a central role in this.

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ustrian real estate company IMMOFINANZ, a long-term investor in Romania, recently took its office buildings in Bucharest to the next level, with the introduction of its international office brand myhive.

This concept, developed and designed by the company, already present in selected projects in Austria, Poland, Hungary and the Czech Republic, redefines the entire idea of “office”, by focusing on creating a friendly atmosphere and providing a wide range of services and facilities to the employees working there.

In short, myhive is centered around four main elements:

1) Hotel inspired design > Inviting and friendly design – inside and outside > Lively lobby with seating areas for tenants and guests 16

> Information on the building and tenants via TV screens in the lobbies > Attractive green areas with outdoor seating > Easy-to-understand signage and guidance systems in the building and outside areas > Security through discreet, but effective staff and modern technology > Cleanliness through efficient personnel > Sufficient ventilation and comfortable, seasonal temperatures > Warm lighting and pleasant aromas, nice background music > Smokers‘ zones in the building or in covered outside areas > Sustainability through energyefficient equipment and operations

2) Attentive service > Friendly personnel at the welcome desk who provide active support

> Fast and expert help from on-site technicians > Professional services through customer-oriented facility management > Flexible and cooperative assistance from the building owners

3) Lively infrastructure > Good, diverse and reasonably priced gastronomy offering in an attractive atmosphere > Shops and services for everyday needs > Meeting rooms plus conference and event areas > Flexible, serviced offices for shortterm needs > Rapid W-LAN in all inside and outside areas > Sport facilities with showers and lockers > Services and infrastructure at all locations available to tenants WWW.TRANSILVANIABUSINESS.RO

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An office for modern personalities.

Lively and friendly.

Featured: myhive S-Park, Bucharest Rentable surface: 34,186 sqm Location: Tipografilor Street, close to Piata Presei Libere, with good transport connections 4 Huge myhive lobby area 4 Lively retail area with a wide range of services (canteen, convenience store, patisserie, pharmacy, cosmetic salon, flower shop, fitness gym) 4 All day coffee on the ground floor, especially for the lounge area 4 Secure bike parking, showers and lockers 4 Shared electric car (and charging station) 4 Beautiful green outdoor area

4) International community > Attractive lobbies and exterior areas as communication zones for tenants > All-day cafĂŠs/restaurants or designated tenant lounges > Interesting events in the buildings, especially for tenants > Website and mobile Apps for networking with tenants in all buildings

Featured: myhive Metroffice, Bucharest Rentable surface: 20,663 sqm Location: Dimitrie Pompei Boulevard, with very good transport connections A brand new office building, with a big myhive lounge and numerous services available for tenants.

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ROMANIA IS RAISING FAST More than 200,000 sqm of space in schemes meeting the class A standards will be made available to tenants in Bucharest.

Today Romania is one of the most promising markets on the economic map of Europe. As the seventh most populous country in the EU with a potential of more than 19 million consumers and a purchasing power that increases year by year, it is attracting interest from numerous foreign investors.

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umbers are the best testimony to the Romanian prosperity: ten years after accession to the structures of the European community the Romanian economy is growing more than twice as fast as the European average. Furthermore, experts point out that Romania is extremely diligent when it comes to doing its homework in terms of creating favourable conditions for the functioning of existing investments and attracting new ones. Entrepreneurs are also tempted by attractive conditions for doing business and relatively low taxes.

“Economic reforms and the extremely favourable business climate mean that the Romanian economy is now starting to draw on its vast potential, which is also directly reflected in the commercial property industry. One of the pillars thereof is the office sector concentrated around Bucharest which over the last several quarters has been recording stable growth” – highlights Olga Melihov, Country Head for Romania, BNP Paribas Real Estate.

A critical indicator of the growth of the office market in Bucharest is

the clear drop in the office vacancy rate which at the end of H1 2017 fell from the 13% recorded at the end of 2016 down to 9%. The decreasing volume of vacant space results not only from the growing demand for offices in Bucharest, but also from the temporary limited development activity on prime class A office submarket. Unsurprisingly, demand for office space in Bucharest is encouraging developers and the response to the high level of demand comes in the shape of new schemes constructed in the Central West and West districts of Romania’s capital.

Estimates by BNP Paribas Real Estate show that just over 70,000 sqm of prime office space has been delivered to the Bucharest market over the last six months. Furthermore, this number is going to increase by a mere 50,000 sqm by the end of the year. It won’t be until 2018 that we will see increased activity in terms of prime office space.

However, it has to be stressed that Bucharest is not the only magnet attracting investors to Romania. Cities such as Cluj, Iasi and Timisoara lure with prime conditions for business growth. Moreover, experts at BNP Paribas Real Estate highlight the fact that rents are stable, oscillating around 15 – 18 EUR/sqm/mth, and Romania is now entering a market maturity phase.

Economists and analysts point out in unison that if you want to achieve a strong position in Europe today, your presence in Romania is a necessary must-have.

Foreign investors are increasingly willing to direct their attention towards Romania when considering expansion in terms of the BPO and business services sectors. The high standard of work, access to qualified workforce and significant differences in wages between developing economies – which Romania can be counted amongst – and highly developed countries mean that the prospects for growth of the office sector are based on extremely solid and stable foundations. Additionally, Romania’s advancement in rankings of top BPO destinations has to be emphasized, and the market can be thus viewed as a mature location for this type of business – adds Olga Melihov.

If it wishes to increase its attractiveness in the eyes of investors, the Romanian market – similarly to the Polish one – has to complete the process of improving availability of the commercial property sector to local investors. As a result of the exceedingly positive rental market indicators and the strong economy, the Central and Eastern Europe region represents an important target for global capital.

Estimates show that there are more than 2 billion USD of new capital available on the market and ready to be invested in properties in the region.

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OFFICE city office and residential development in a booming city like Cluj-Napoca; “Unirii View” - inner-city office development close to all amenities at ground zero Bucharest; Triama: innercity residential close to all means of transport and amenities in Bucharest; Ramnicu Valcea Retail Park: inner-city retail development in a city that was overseen so far from a retail perspective; Pelican Park Galati: a retail product adapted to the needs of the city in an extremely accessible and visible location.

Jan Demeyere, Partner | Architect and Didier Balcaen, the General Manager of Speedwell.

“THE GROWTH POTENTIAL IS ENORMOUS” The genesis of Speedwell, what inspires the concepts of new projects and business arguments for Romania are explained by Didier Balcaen, the General Manager of Speedwell and Jan Demeyere, Partner | Architect.

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fter more than a decade of experience in real estate we saw that there was a need for a new approach. We have brought together the creative ideas of a multidiscipline architectural office with the pragmatic approach of a project manager company. Experience meets innovation is a standard we implement in all our projects. Thinking in concepts means immersing ourselves in the essence of a project. A few sketches, words, principles can express the soul of a project and can inspire the whole project team. We keep constant vigilance to maintain the concept from the first draft until the delivery of a project, both esthetically and financially. As developers we can today offer the citizens better housing, better architecture, better mobility, beautiful landscaping, a challenging workplace…

It is our wish and commitment as a developer to honor these points and translate them into reality.

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What elements make an area (city/ region) and please describe in brief the portfolio structure that the company is developing?

“Location, location, location” remains a cliché which is very true in real estate development both on a macro and micro scale, the issue, however, is how to define a good location. First of all we look for a sound foundation, mainly determined by a solid economy, with growth potential. This starts on a country level, but applies also to cities and even suburbs/sectors within those cities. Since real estate projects tend to take at least 4 to 5 years to develop, those foundations need to last, therefore we aim at inner city locations, bought at a correct price, allowing a sellable and profitable product even if the economy slows down. The above principles are reflected in our current portfolio and automatically result in a well-diversified portfolio, reducing further the overall risk to our investors: “Record”, inner-

If you had to name the most important challenge lying ahead for the office market, what it would be?

Flexibility. Modern companies and tenants (IT) have to be flexible towards their clients, this not only relates to office layouts but to the actual surface needed, which may fluctuate largely over the years. Finding a flexible concept on a large scale (I refer to coworking spaces as small scale) where you can provide different companies within the same building the flexibility to grow and shrink, still keeping an institutionally sellable and bankable product is the main challenge ahead for office developers.

How would you define the buildings of the future?

We believe the key innovation is not so much in digitalization, which anyhow is moving fast and a necessity to be integrated, so everyone has to follow, but the “brick and mortar” part of construction is still medieval in my view, so an innovation in how flexible partitioning can be created to adapt to the flexibility of the tenants is the future, together with a different approach to mobility. The age of self-driving cars and the end of private car ownership is approaching fast, why still build all those underground parking lots?

What is the company’s development strategy for the next few years?

We are developing in Romania because it has that foundation mentioned above and it’s sound enough to last for a while. In the meantime we are still looking at other countries like the Czech Republic and Croatia. Given more political stability, Ukraine is the next logical step to the East, but until then, Romania is where we feel at home as developers. Moreover, with a (rail) road infrastructure that still has a lot of need to develop, the growth potential for the entire country and secondary and tertiary cities is still enormous, so our base will still remain in Romania for a long time.

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OFFICE

GTC ROMANIA CONFIRMS ITS STRONG MARKET POSITION GTC Group is at the forefront of the commercial real estate sector in Central, Eastern and Southern Europe since 1994. GTC owns 35 commercial buildings with combined office and retail space of nearly 550,000 sqm.

GTC Romania was established in 1999 and is active in developing projects and managing properties in three key sectors of real estate: office buildings, shopping and entertainment centers and residential sector.

GTC Romania subsidiary owns City Gate, Premium Point, and Premium Plaza office buildings in Bucharest, three buildings which combined offer nearly 63,000 sqm GLA. GTC has developed two of the best-known office buildings in Bucharest, America House and Europe House in Victoriei Square. At the beginning of July, GTC also bought the Cascade Office Building on Buzesti Street, near Victoriei Square. Developed in 2005, the Cascade Office Building is a class-A office building and has a lettable area of 4.200 sqm and it is currently fully let.

City Rose Park Globe Trade Center (GTC) has purchased a 15,000 sqm land plot in Bucharest where it plans to develop a new office project.

Globe Trade Center will develop three office buildings with a leasable area of 46,000 sqm and 920 parking places. GTC invested EUR 10.5 million for the plot and the total investment in the land and the project, called City Rose Park, adds up to EUR 89 million. GTC bought the land from investment fund Bluehouse Capital, part of six hectares the fund owns in the Expozitiei Boulevard in Bucharest. The land is close to existing public transportation, convenient easy access to the international airport and close to the two new planned metro stations of the planned M6 line of the Bucharest Metro. The three office buildings will offer a premium office space and underground parking. The City Rose Park project will be

New targets The GTC Group is a leading real estate investor and developer focusing on Poland and three capital cities in Eastern Europe, operating in Poland, Romania, Hungary, Croatia, Serbia and Bulgaria. Additionally, it holds land in Ukraine through its subsidiary.

The Group was established in 1994 and since then has developed 65 commercial properties, offering over 1.100.000 sqm of lease area, purchased 22

City Rose Park

As the sole owner of the City Gate buildings, GTC Romania is continuing the strategy of improving the buildings, by starting the main project of 2017, the refurbishment of Plaza, aiming to revitalize the empty space existing between the City Gate office buildings,

by reconditioning the hydro-insulation, replacing the pedestrian pavement, restoring the existing roadway platforms at the back, installing urban furniture for relaxation, terraces, improvement of the lighting system and introduction of greenvegetation surfaces, to create an optimum microclimate for all of us, to transform the empty space into green, quality areas which create more private space and relaxation benefits. Bucharest office market is maturing clients are willing to pay a premium rent for buildings which offer an exclusive location and amenities.

GTC local portfolio is evaluated at EUR 180 million and the occupancy rate of the City Gate, Premium Plaza, Premium Point and Cascade is 94%.

6 commercial properties, offering approx. 90,000 sqm of lease area, developed ten residential projects offering approx. 400,000 sqm of floor space. Today, GTC actively manages the real estate portfolio of 35 commercial buildings providing nearly 550,000 sqm of office and retail space to its highly demanding tenants and customers.

Regarding the 2019 targets, the group defined path to growth and double the income generating portfolio to at least â‚Ź2.0 bn through developments and

acquisitions, taking advantage of the property market recovery in key CEE and SEE markets.

delivered between 2019 and 2020, and is currently in the planning stage, alongside other real estate projects that GTC has in the pipeline in Poland, Hungary, Serbia, Bulgaria and Croatia. Globe Trade Center estimates net operational revenues of EUR 9 million and a yield of 10% from City Rose Park project.

City Gate Plaza refurbishment

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OFFICE

GREENFOREST FROM FURNITURE MANUFACTURING AND OFFICE FURNISHING TO FURNITURE AND FIT OUT Through constant investments in up-to-date technologies and reliance on the competence and experience of its employees, GreenForest has been designing and manufacturing office furniture since 1992 and has become one of the most important companies in the interior design field from Romania.

GreenForest anniversary of 25 years of experience in the office market marks a change in the communication strategy of the company determined also by the consolidation of the position in the fit out market.

Over time GreenForest has positioned itself as the main Romanian manufacturer of office furniture, both as market share and also by developing innovative products and performances that made office furniture produced in Timisoara provide workstations for over 100,000 people not only in Romania, but also in other European countries. 2017 marks the launch of space partition solutions in partnership with BAMER company from Portugal and the integration of the acoustic solutions and partitions from Fantoni, the development of a new team for fit out project management and the extension of the office furniture offer through strategic partnerships with important brands: Fantoni from Italy and Sedus from Germany.

Thus, through experience and new transformations, GreenForest has the products, knowledge and skills that give new content to GreenForest communication message: „professional furniture and fit out for a great office experience”.

Main benefits of GreenForest office solutions are: • Quality and simplicity of Greenforest furniture is the result of 25 years of experience and developments in the Romanian and other EU markets.

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GreenForest ensures quality solutions to levels reachable to any company budget.

• The traditional GreenForest partnerships for office chairs with Topstar Germany, LD Seating Czech Republic, Softline Denmark, Pedrali, Infiniti, Gaber and Quinti from Italy for soft seating and cafeteria provide complementary quality and budget reachable solutions to GreenForest products.

• Sedus office furniture provide German premium quality solutions that reach any high standard of office quality, Sedus ranging in top 10 European office producers.

• Fantoni furniture plus acoustic and partitioning solutions provide innovative Italian design recognised as worldwide icon brand in the office architecture area.

Some of Fantoni products are part of the official design history.

• Wagner brand provide premium German seating products and Patra from South Korea provide innovative ergonomic chairs worldwide certified according with European, U.S., Asian or Australian standards.

• For the office partitioning, GreenForest solutions use Fantoni and Bamer systems. Bamer are quality and design systems affordable for any company budget.

• For the flooring, GreenForest supplies Desso carpets from Netherlands and DLW vinyl from Germany.

• As for electro & ICT solutions GreenForest has its own brand, e-Visual, for digital signage products and it is authorized dealer for LG Business Solutions, Bachmann and Kramer brands.

• Furnishing & fit out design and implementation is provided by GreenForest own project management and design team. „GreenForest furniture & fit out solutions provide great office experience in line with the vision and strategy of clients that deliver trust and sustainable partnerships, growth and learning support for the people, support for internal processes, an optimal balance between cost of initial investment and the operating costs aiming to maximize the global performance of the clients”, PhD. Sebastian Capotescu, Marketing Manager GreenForest.

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“BUCHAREST IS A VERY ATTRACTIVE PLACE FOR REAL ESTATE INVESTMENT” Friedrich Wachernig is Member of the Board of S IMMO AG since 2007 and involved in the real estate market in Romania since 1999. “Romania can now capitalize on a strong momentum”, he recommends.

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hat strategic arguments determined your investments and the development of new projects in Romania?

S IMMO’s strategy is to invest only within the European Union and mainly in capital cities. Bucharest is the six largest agglomeration within the EU and therefore a very interesting investment area. We came to Bucharest in 2006 and have experienced the difficult years that followed the financial crisis. Since about two years we see a slow but steady uplift in the market. We therefore decided to start with the development of “The Mark”, our landmark office development in Bucharest city centre which has been long-awaited by the market. Having a gross leasable area of approximately

25,500 sqm comprised in two class A+ buildings, The Mark is the first major class A office project to be built in Bucharest CBD after a pause of approximately 10 years. We are also working on a rather broad facelift for our shopping centre Sun Plaza. Opened in February 2010, Sun Plaza gained its position as the dominant retail scheme in the Southern part of Bucharest and the remodeling process aims to further strengthen it, by adding up to 40 more brands, trading up the centre and gaining further fashion competence.

What is your outlook in the market evolution in the last years and your perspective for 2017-2018?

We see a steady uplift and we are convinced that the upswing will

continue for the years to come. The progress might take a few years, but we are sure that Bucharest is a very attractive place for real estate investment, also on the long run.

Which trends will influence the development and success of new projects? How about Romania’s role in Southern and Eastern Europe?

2017 started as a year of uncertainty, caused mainly by political changes in all major markets across the globe.

However, the SEE region faced these uncertainties rather well and was able to benefit from the new opportunities arising from global turbulences. For example, rising labor costs in global hot spots placed SEE countries (mainly Romania and Bulgaria), among the 27

OFFICE

preferred investment destinations, based on their favorable location, better investment climate and the benefits of EU membership. As the second largest market in the CEE region, Romania can now capitalize on a strong momentum, backed by rising consumer spending, fiscal ease measures, low local interest rates and increased investors’ appetite.

The emergence of the BPO/SSC and IT sector, in particular, is a key driver for growth and employment in Romania, which has become increasingly attractive due to its pool of highly talented, highly specialized young workers. In this context, new real estate developments are already being planned or under construction and competition on all market segments is fierce. The most successful projects will be those that respond best to the specific, always evolving needs of their target occupiers. Our objective as an investor is to establish new standards in terms of design vision and the use

of new-generation technology, while maintaining our position as a strong, reliable and responsive partner for our tenants.

Which measures would you like to see being taken by the authorities/ administration to ensure that Bucharest can also survive in the face of international competition, to increase the interest for more investments?

Being present on the Bucharest market for over a decade now, we have witnessed this remarkable capital city rise towards its potential and we believe that there is still plenty of space to grow. Our belief is that, through consistency in urban development strategies, a continuous improvement of infrastructure, backed by a stable socio-political and fiscal environment, Bucharest has the chance to become a major European hotspot in terms of new investments, technology and creative business models.

How would you define the strengths of S IMMO and in your expertise how would you describe the buildings of the future? Which strategic pillars are you considering for the next successful years of the S IMMO business model?

S IMMO is Austria’s longest standing real estate investment group. One of our strengths is our experience. We

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are very close to our markets, being represented by local teams in all key regions. This enables us to make quick decisions and react to shifts and opportunities in each market. As a real estate entrepreneur, our task is to use to our benefit the cycles that property markets traditionally go through. We are very proud of our portfolio. We place great value in the quality of our properties and make sure that the portfolio is strong in creating earnings and cash flow. Our portfolio also holds great value potential which we will profit from in the years to come. Apart from the existing properties, we are working on our attractive development pipeline, which includes potential investment volumes of up to EUR 600 m. We are currently focusing on Germany as our main market, but the CEE region is still on our radar. If you look at our project pipeline, you can clearly see that we are still very active in this region, too. In recent years, we have seen signs of a stable recovery and cities like Bucharest and Budapest are now experiencing a clear and – above all – sustained upturn. We are also seeing this development reflected in our valuation gains. A value of EUR 19.2 m has already come from revaluations of properties in the CEE region. After the drastic devaluations in 2009 we still have considerable potential, which we now intend to leverage on a gradual basis.

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OFFICE

THE MARK THE MARK will be the first significant Class A office building developed in Bucharest CBD in the past ten years, following a total investment estimated at EUR 45 m starting with construction.

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he project has a total built area of 43,000 sqm and a gross leasable area of approximately 25,500 sqm.

THE MARK will comprise two Class A+ office buildings – a 14 storey tower and a 6 level podium-building.

Moreover, the project will benefit of a generous parking area with 345 car seats (300 underground and 45 above ground), as well as bicycle racks and electrical vehicle charging stations. The construction works for THE MARK started in July 2016 and

are expected to be completed in the second quarter of 2018.

The project’s outstanding design concept features a flexible and efficient internal layout, including: 4 The largest floor area available in a Class A building in the city center 43.0 m floor to ceiling clear height 4 Excellent daylight work areas thanks to high ceilings coupled with full height glazing 4 Highly efficient ventilation with heat recovery and filtered fresh air 4 High-tech exterior shading system 4 An outstanding lobby design supported by pioneering technical equipment 4 Intelligent elevator destination controll (myPort and Port - System from Schindler) 4 The systems are designed to achieve energy reduction of approx.

20% compared with Ashrae 90.1-2010 reference building. This is achieved by key measures including:

- High efficiency LED-lighting arrangement - External climate responsive façade, dynamic shading - Extensive high light-transmission glazing and high ceilings contribute to exemplorary daylight penetration - Energy efficient floor plenum ventilation with free cooling and 80% heat recovery - Evaporative cooling with ESEER greater than 7 - High efficiency condensing boilers - Low EC energy fan coil units (less than 50% motor consumption versus traditional) - Higher Eurovent classification Ventilation Units - Solar Photovoltaic Panels on roof - Lifts with energy recovery regenerative drives 4 BREEAM „Excellent” sustainability compliance standards

The rise of a new business district in Bucharest Ideally located, very close to Victoriei Square, right on the rising Uranus Boulevard (at the junction of Calea Grivitei and Buzesti street), THE MARK will add a new business address on the map of Bucharest: the new Uranus boulevard

(popularly known as Buzesti Street) has seen significant infrastructure improvements in the past years and is set to become one of the main arteries of the capital city.

Upon completion of all envisioned infrastructure works, this new representative boulevard with a total length of 12.5 kilometres will ensure direct connection between the northern and southern districts of Bucharest.

Perfect location to accommodate headquarters The location is right next to the city’s central business district and easily accessible by car, subway, railway, tram, bus and bicycle.

It takes only a few minutes’ walk to the city center and also quick connections to the airport.

Taking into consideration all the opportunities offered by the central location as well as the high technical specifications of the building, THE MARK is set to become a destination for valuedriven companies. The leasing process started in the fourth quarter of 2016.

Above-market technical specifications Starting from the developers’ objective to establish new standards in terms of design vision and the use of new-generation technology, the project is conceived by one of the famous international European architects, Chapman Taylor. The construction company in charge with the construction is STRABAG, while BuildGreen will manage the green certification process.

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AFI PARK Brasov

AFI EUROPE ROMANIA

CITY CENTRE CLASS A OFFICE DEVELOPMENTS; BUCHAREST & BRASOV

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ollowing the completion of one of the most successful office project in Romania, AFI Park of 70,000 sqm GLA in Bucharest, AFI Europe Romania is under construction of additional two office Projects: AFI TECH PARK Business Campus in Bucharest and AFI PARK BRASOV.

AFI PARK BRASOV – The Next Business Spot in The Heart Of The City AFI Europe Romania has commenced the development in the City Center of Brasov, of a Mixed– Use project that includes AFI Brasov Shopping Mall and AFI Park Brasov Class A office project. The shopping mall will offer a total gross leasable area of 45,000 sqm GLA and office buildings of approximately 25,000 sqm of gross leasable area (GLA).

The complex in Brasov enables to the office tenants and employees 30

the most convenient and the 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 a Class A office Project targeted to 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 2019.

4 The Sites 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.

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OFFICE AFI TECH PARK Business Campus In Bucharest, AFI Europe is well underway of the office development AFI TECH PARK Business Campus, a 50,000 sqm GLA Class A Business Park, developed in close proximity to the J.W. Marriott Hotel and the Romanian Parliament. Phase A of 22,000 sqm GLA is set to be completed in Q2 of 2018!

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 (Carrefour 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 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 Business Campus enjoys excellent accessibility and

AFI TECH PARK Business Campus

visibility. The project is located between 2 main traffic arteries, each having 4 lanes that allow a smooth traffic flow: Boulevard Progresului and Boulevard Tudor Vladimirescu.

The Project will be built in 3 phases.

Phase A and B feature 2 buildings of P+8 floors, while Phase III will feature a 14 floor office building.

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 Platinum pre 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.

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CEE PROPERTY FORUM - FOR THE FIFTH TIME IN VIENNA On 19th September 2017 the fifth edition of CEE Property Forum, organized by Property Forum in partnership with the Royal Institution of Chartered Surveyors (RICS) will gather leading real estate professionals and top executives from Central & Eastern Europe to analyse the potential of the regional real estate market from a global perspective. 70 speakers and more than 400 visitors will come together in Vienna, creating a unique networking opportunity.

Property Forum events – real estate focused conferences, business breakfasts and workshops – are organized all over Europe: in Belgrade, Bratislava, Bucharest, Budapest, London, Prague and Vienna. Property Forum events are characterized by high-level networking opportunities and unique professional content, thus attracting over 2,000 people annually and making Property Forum one of the leading event hubs of the CEE real estate industry.

Property Forum’s core values are the inspired format, the quality of content and the commitment to seek out the most interesting and most inspiring speakers in the industry and let them share their knowledge and passion.

The first ever Property Forum event was organized in Vienna four year ago.

CEE Property Forum 2013 had nearly 30 speakers and 150 visitors. This year 70 speakers and more than 400 visitors will come together in the Austrian capital at the 5th CEE Property Forum. Not only the numbers of participants but the topics have also increased during these five years. All CEE countries and all segments of the market from office to hotel and from retail to student housing are covered by diverse panel discussions and special attention is paid to topics that are currently reshaping the face of the property business, namely wellbeing

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and property technology.

The second largest Property Forum event focuses on the most dynamically growing region of the continent, Southeastern Europe. To this date, SEE Property Forums have been held in Belgrade and Bucharest. This year’s event, SEE Property Forum 2017 attracted 50 speakers and more than 200 visitors in the Romanian capital.

“In 2017 Property Forum continued its expansion by the introduction of a new format. Over 20 speakers and more than 100 visitors came together in the

Czech capital for the first ever Prague Property Summit in April. A few weeks later a similarly sized crowd analysed the potential of the Slovak market at the first Bratislava Property Summit.

2018 is expected to be another year of growth for Property Forum with the introduction of new locations and new editions of other events such as the Emerging Europe Property Forum in London”, said Csanád Csürös, CEO of Property Forum.

The Royal Institution of Chartered Surveyors (RICS) is the official event partner for all Property Forum events. RICS is the world’s leading qualification when it comes to professional standards in land, property and construction. It is an independent professional body, committed to setting and upholding the highest standards of excellence and integrity - providing impartial, authoritative advice on key issues affecting businesses and society. RICS is a regulator of both its individual members and firms enabling it to maintain the highest standards and providing the basis for unparalleled client confidence in the sector.

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OFFICE Ion Radulea, General Manager at River Development

57,900 SQM CLASS A OFFICES UNDER CONSTRUCTION IN THE NEXT TWO YEARS River Development is currently developing a new phase of Sema Office business park and starts the first phase of Pumac office project.

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hich are the main milestones in the evolution of the projects

by River Development and the objectives for the following years?

River Development is a Romanian private company, the vehicle through which the SEMA Group, consisting of 16 companies, administrates and develops the existing and future real estate projects. The company has a compact team with substantial experience in real estate development, which has delivered up to this point over 100,000 sqm of Class A offices. We include here the first phase of the Sema Office business park, part of Sema City project, a phase completed in 2008 and sold to the Europolis investment fund, consisting of two buildings, namely the 14-storey „city” building set alongside Dambovita River, with a build area of 33,000 sqm, and the second building, „courtyard” type, with a built area of 18,000 sqm. A new development phase of the Sema Office business park began in 2014 with the construction works for Bruxelles office building, „courtyard” type, completed in 2016, with a built area of 14,500 sqm, leased to IT, financial and legal companies, government institutions (The Bucharest Court-Civil Sections VI, VII, Temenos Romania, British American Shared Services Europe, PTC Eastern Europe, 1 Minute). At this moment, we have in progress a 26,600 sqm development of Class A offices (Paris and Berlin buildings) scheduled to be delivered by year-end 2017- early 2018.

The competitive advantages of Paris and Berlin buildings, in the western development landscape, are: the large floor plates, up to 6,700 sqm, compared to 2,600-3,500 sqm as it is built in the area, with maximum flexibility in terms of fit-out, the competitive rent levels for Class A buildings in this new business pole, the small service charge compared to other areas, as well as the extraordinary development potential, being an integrated part of a larger mixed-use project on a land plot of unique size in Bucharest. The buildings are practically already included in

RSIV class for earthquake risk, this being the minimal risk in Romania. The location, near the Petrache Poenaru subway station, in the heart of a young community of students, as a potential source of future specialists, is still an asset for the area, for companies in the IT, BPO, Call center and SSC domains, very active in terms of demand for offices to rent. Both in the Sema Parc industrial park and within a 2.5 km radius, the employees from Sema Office benefit from numerous facilities restaurants, cafes, malls, hypermarkets, sport clubs (fitness, dancing, climbing, squash, billiards), banks, ATMs, car service and a medical clinic. This year, we will start the construction works for another 31,200 sqm on the former Pumac platform, a project that will

continue in 2018, the year in which we plan to commence another 60,000 sqm development, the Sema Office II phase, alongside Dambovita River, near the first 14-storey building. The total investment in Bruxelles, Paris and Berlin office buildings amounts to approximately 41 million euros.

How is the relationship with existing tenants evolving, which are the new demands of clients, what does River Development offer now and in perspective?

We always keep in mind the needs of the tenants’ employees, an aspect that influences the success of their business and staff retention, especially if we are talking about IT companies. They have a set of special needs in terms of design, 33

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facilities and available services, with the final goal of enhancing the comfort and create a pleasant working environment for their employees. Our concern is to create bright, airy office buildings (such as the interior courtyards of Bruxelles, Paris and Berlin buildings) with restaurants and shops close by, green areas, urban furniture and terraces for business meetings or relaxing lunch breaks. When discussing the commercial terms for new contracts, we are also open to provide support for space planning, both architecturally and financially. We plan to develop new green and relaxation areas within the business park.

How do you evaluate the evolution and potential of the real estate market in Romania?

The real estate market is dynamic again, close to the rhythm in 20062008. The potential for business has increased, there are active buyers, the interest for Romania is high, there are many projects under development, but the number of buyers is still limited.

We can witness an increased interest in developing and buying projects in the Center-West area of Bucharest, and the recent movements on the investment market, announced also in the media, stand as proof. Also, there is a real interest from banks in financing our projects, the financing conditions being favorable. As a group, we benefit from the fact that 34

we have a common shareholding on all the companies we develop the projects. Regarding tenants, we witness a migration of companies from the north to the centralwestern Bucharest, the interest for this area has increased exponentially from one year to another thanks to several factors such as: the proximity

SEMA CITY 4 Phase 1 (2004-2006) Sema Office I, 78,000 sqm built area, city and courtyard buildings, delivered and sold to investors 4 Phase 2 of Sema Office (2014-2018) 3 new Class A office buildings, delivering a total built area of 41,160 sqm • Sema Office Bruxelles (14,525 sqm GBA, GF+ 1 floor) - delivered • Sema Office Paris (10,832 sqm GBA, GF+ 1 floor) - under construction • Sema Office Berlin (15,802 sqm GBA, GF + 1 + partial floor) - under construction 4 Phase 3 - Sema Office II (2018 – 2020): 38,000 sqm above-ground built area and 36,000 sqm underground, two office buildings, designed with large floor plates, creating multiple possibilities of configuring the space depending on one’s own needs and

of the city center, the existence of functional infrastructure at maximum parameters, the availability of public transport means and numerous facilities and services (restaurants, banks, shops, pharmacies, etc.) as well as the potential of a skilled labor pool in the Grozavesti-Politehnica area, especially for IT, BPO’s and SCC’s. standards. The two Class A office buildings include one “city” type (GF+ 14 floors) and one “courtyard” type (GF + 5 floors).

4 Phase 4 (estimated 2018-2019) • the first residential phase at Sema City

OTHER PROJECTS The Pumac project is located in the Politehnica area, on the land of the former factory 4 Phase 1 (2017-2018) The construction works for the first office building (out of three) will start this year and is planned for delivery year-end 2018, with a total built area of 23,000 sqm (above-ground) and 8,200 sqm underground, 2B+ GF + 11 floors, 21,000 sqm GLA 4 Phase 2 (2018-2019) • a first residential phase of the Pumac project WWW.TRANSILVANIABUSINESS.RO

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ANCHOR GRUP: 20 YEARS DEDICATED TO DEVELOPING COMMUNITIES Ever since it entered the Romanian market in 1997, the international investor has been focused on communities, whether they were united by the same location, tendencies or preferences for things of quality.

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his year we celebrate not only 20 years of activity on the local market, but also the fact that our investments in Romania exceeded the benchmark of 400 million euros.

What makes us truly proud is the achievement of our initial objective.

These funds have served a higher purpose than the making of buildings, the purpose of enhancing the quality of life for society, that of changing of the urban landscape for the better and our most important purpose, to create and consolidate communities”, concluded Affan Yildirim, Anchor Grup General Manager.

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București Mall: the fashion heart of Bucharest 18 years ago, Anchor Grup inaugurated a project which holds a special place in the hearts of all the inhabitants of Bucharest: the first modern shopping center the city had ever seen, București Mall.

Moreover, the development of București Mall meant a lot for the community of trendsetters and fashionistas. It not only became their meeting place, but it constituted as an urban landmark, too, as well as a place where these forwardlooking fashion lovers could enjoy a daring mix of their favorite brands and experiment with new ones.

The first modern shopping center in Romania optimized its mix of brands during a complex renovation process - 25 new stores were opened -, thus becoming an even more attractive destination for trendsetters.

Boasting a current occupancy rate 97% percent and a GLA of 40,000 square meters, București Mall remains the place to be for fashion lovers and has stayed that way even during a complex two year renovation process. This went on in a transparent way, that honored the relationship between the first modern shopping center in Romania and its loyal customers: the mall was functional all during the refurbishment, even if that meant new challenges for the developer.

For instance, the crew had to work after 1 AM, 8 hours until morning, especially when performing loud or dusty interventions and find a way to overcome the obstacles, such as mechanical deficiencies, caused by the existing infrastructure. There were additional challenges as well,

such as low floor to floor, massive columns and a dense structural grid.

After the renovation, the clients enjoyed the new façades of the building, the refurbished symbolic fountain and the new terraces. Since the purpose of this complex process was to refresh the look of the mall, aligning it with current trends and clients’ demands, the customers also appreciated the new urban texture given by the colors, the patterns, the white and the mix with the metals, a texture that underlines that București Mall is the fashion heart of Bucharest.

The refurbishment not only strengthened the appeal of the first modern shopping center in Romania to the public, which was reflected by the increasing footfall, but also consolidated the relation between the mall and its tenants, 80% of them decided to refurbish their stores and brought into the mall the latest shop design.

Moreover, the renovation of București Mall brought Anchor Grup national and international recognition. In addition to the SEE Award, the international investor was honored by CIJ Europe, the leading commercial real estate news provider across Central and South Eastern Europe, with the Best of the Best Hall of Fame (HOF) award for its refurbishment WWW.TRANSILVANIABUSINESS.RO

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The neighborhood landmark: Plaza Romania

and relaunching project of București Mall. This prize was awarded for the outstanding achievement of Anchor Grup in the property development

sector, its project being voted as the most prominent one across CEE & SEE by an independent committee of top industry professionals from across Europe.

The embodiment of an urban district, the shopping center inaugurated in 2004 is one dedicated to the community, the go to meeting place for families, friends and office employees.

After Anchor Grup turned toward the sixth sector of Bucharest, the modern shopping center inaugurated here in 2004 became of use to a community that was in need of entertainment and cultural outlets. Hence, Plaza Romania hosts Movieplex, that has 11 theatres which have a total of over 2,500 seats. This cinema was the first in which Romanians could watch 3D films. Furthermore, the latest addition to Plaza Mall’s mix of tenants is the Passport Office, an institution where all the inhabitants of Bucharest can make or renew their travel documents.

Plaza Romania is the mall that provides a cozy shopping experience in a relaxed and warm atmosphere. It is part of the residential community around, the meeting place, the place where people enjoy to come and spend time and socialize. The

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shopping center’s customers are more laid back and they tend to rely more on the interpersonal experience that the mall has to offer. They benefit from easily paying for facilities here and from the ease of access.

At the same time as București Mall, Plaza Romania was also refurbished.

The renovations of both malls while keeping them functional was another Anchor Grup premiere on the local market, one that required an investment of over 30 million euros. The complex refurbishment of Plaza Romania brought a new urban ambience to the mall, as well as major changes.

Among these was a new entrance that connects Plaza Romania to the Timișoara Boulevard, one of the busiest avenues in Bucharest. This change was meant to enhance the ease of access which the mall boasts. Once it was created, pedestrians could reach the southern area of the ground floor of the mall from the underground parking space, while commuters could also enter Plaza Romania more easily when coming from the stations belonging to the network of public transportation.

The interior of the mall was also modified, in order to have a lighter appearance, given by linear elements and patterns. The food court, which attracts many visitors from the office buildings in this sector, as well as from the neighborhood, was expanded and the array of products was diversified. Since Plaza Romania is the meeting place for the community, new green spaces were created in the vicinity of the mall.

The success of this renovation was confirmed by tenants and clients alike.

The footfall went up, the occupancy rate increased to 95% and over 35 new stores were opened during the refurbishment.

Furthermore, the events organized in Plaza Romania, events dedicated to families 38

and friends, made it a vibrant community hotspot that caters to its tastes in terms of shopping and entertainment.

In terms of residential developments as well as of its retail and office spaces,

Anchor Grup prioritized communities.

Launched in 2009, the premium compound InCity Residences offers 13 different types apartments fitted to the taste of a community of people who have the same values, lifestyle and who cherish things of quality. A high-tech oasis situated on Dudeşti Street, 500 meters away from București Mall, Alba Iulia Square and Dristor subway station, the four blocks of InCity Residences were designed and built to live up to the most sophisticated expectations and are equipped with facilities adapted to the most demanding tastes, with generous surfaces and high quality finishing.

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The residents of InCity Residences are mostly young, active persons, who appreciate quality time at home, but also going out and meeting friends.

A ground-breaking project in the portfolio of Anchor Grup The international investor is experienced in the field of office buildings and took that know-how to the next level by developing Plaza Romania Offices, a project designed to answer to the latest tenants’ needs: to have near the office access to a wide area of products, services and experiences.

As far as flexibility is concerned, Plaza Romania Offices is also a good fit for companies, as their demands are listened to and met, as was the case of Mega Image, a tenant that occupies approximately 4,000 square meters and that requested an additional surface that would allow the company to respond to its employees’ needs in the most appropriate manner. Furthermore, all the employees of those companies who choose to set their headquarters in Plaza Romania Offices have access to the products, experiences and services Plaza Romania has to offer – from the food court to the Movieplex cinema and from the gym to a variety of stores. All these benefits are one step away and pose no risk of becoming distractions, as the office area remains independent from the retail space.

The first project by Anchor Grup

that combines retail and office spaces earned the investor even more recognition. At the Best Office Buildings Gala organized by Forbes in 2017, the international investor won a special prize for its conversion of retail space into office space that resulted in Plaza Romania Offices.

The first Anchor Grup project in the realm of office buildings was Anchor Plaza Office Building, the first A class office building integrated in a shopping center service area. The 13 floor building with an area of over 25,000 square meters has tenants

that occupy 80% of its GLA. Adobe, Euroweb, Caroli Foods, Credit Europe Bank, LC Waikiki, Marks &Spencer, Securitas, Essilor and Polisano are some of the companies that decided to have their headquarters here.

Another office building in the portfolio of Anchor Grup is Anchor Plaza Metropol. The works on it were proceeded in several stages, among which, for instance, the closing of the structure with drape-like façades.

This building has a rentable area of approximately 35,000 square meters and is, thus, appropriate for a large tenant.

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them to embed global trends into the local environment.

A GLOBAL PLATFORM FOR SHARING KNOWLEDGE AND BEST PRACTICES RICS went through a major development across CEE in the past few years, gathering over 550 qualified RICS Members these days. Anna Orcsik, Regional Manager for RICS in CEE, and Tim Wilkinson MRICS, Chairman of RICS in Romania, talk about trends in the real estate industry.

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hat were the key developments for RICS CEE between 2012 -2017?

Recently, in the Czech Republic, we have built a good working relationship with the Institute of Asset Valuation at the University of Economics, with the intention of developing a new MBA course on commercial property valuation. In Hungary, RICS met with the heads of valuation of major international agencies and banks in Budapest to discuss Valuer Registration.

Our annual valuation conference also looked at the changing role of valuers.

In Romania, meetings were held with the British Ambassador and senior trade and investment officials to discuss how RICS can best support British investment in the country and possible joint events. We are continuing to work more closely with ANEVAR, the local valuers’ association in the fields of policy and the standardization of working practices.

What is RICS’ mission in a constantly changing global environment?

It is already becoming almost a cliché, yet it is true that our world is changing in ways never seen before and the pace of that change is accelerating. RICS, 40

soon celebrating its existence of 150 years, and being one of the largest professional bodies at a global level in land, construction and real estate, continues to be at the forefront of promoting and bringing solutions to all these changes, ultimately serving the public good. While doing so, RICS will focus on three main areas, being of utmost significance. These areas are: entering into partnerships with likeminded professional bodies, bringing together plans and strategies for a more diverse profession, and, finally, identify and bring solutions to global challenges and creating thought leadership.

How do you see the real estate sector developing in CEE in the next decade?

How are global trends impacting this region?

Property professionals will continue to play a major role in further developing trust towards this part of the world. This is a great opportunity, but it also comes with a huge level of responsibility. RICS provides a global platform for sharing, knowledge and best practice examples and, therefore, RICS Members can benefit of immediate access to these very important resources, which will help

What are the plans of RICS in Romania and the main advantages for professionals to join the organisation?

RICS in Romania will continue to remain at the forefront of promoting international standards locally, especially when it comes to valuation and property measurement.

Professional networking opportunities and access to a wide selection of online and face-to-face training options will make sure that our members are always up-to-date and are able to offer the highest level of services to their clients, in a professional and ethical manner.

Being a member of RICS is the mark of quality assurance, a global passport in the property world.

What is your outlook for 2017-2018?

Anna Orcsik, Regional Manager for RICS in CEE: Occupier and investment sentiment remains positive across all Central and Eastern European countries tracked by the RICS Commercial Property Monitor. Results for Q2 2017 show that Hungary and the Czech Republic continue to post the strongest overall results. The vast majority of respondents expect new investors to enter the market with the presence of local and CEE investors predicted to increase across the region in the year ahead.

Tim Wilkinson MRICS, Chairman of RICS in Romania: The Romanian property market has shown clear signs of growth in both levels of activity and investor interest, supported by several years of strong economic growth.

Occupier demand has increased across all sectors and steep growth in retail sales has helped to drive rental growth in the retail sector. The manufacturing sector continues to attract new entrants to the market, with logistics being fuelled by the trend in retail sales. Foreign investor activity has gradually increased in 2017 and the overall level of interest in the market is significantly higher than 2016. The Romanian market retains a yield advantage for investors over more core markets of CEE, while offering a risk profile which is lower than often perceived. A positive outlook for the market heading into 2018.

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REAL-ESTATE ACQUISITIONS The promise to sell concluded under private deed is sufficient for obtaining a ruling having the force of an authentic deed.

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he High Court of Cassation and Justice (ICCJ) has recently rendered a ruling that clarifies the procedure for obtaining a ruling having the force of a sale contract. By its ruling, the High Court has decided that a sale promise, concluded as a private deed has the same force as a promise concluded in authentic form.

As a general rule, there are two ways in which a party to a bilateral promise for the sale of real-estate property may obtain the authentic deed for the transfer of ownership over the realestate property in question: - either by voluntarily concluding a sale contract before a notary public - or in court, if the other party refuses to conclude the sale contract before the notary public within the agreed period.

By Ruling no. 23, issued on 3 April 2017, published in Official Journal no. 365 of 17 May 2017, the High Court ruled that the authentic form of a promise to sell is not a mandatory condition for the courts to issue a ruling having the force of an authentic deed, when one of the parties sues the other party, who has “forgotten” to appear before the notary to sign the sale contract.

Legal context The ruling rendered by the High Court has clarified the unsteady judicial practice with regards to the form that a promise sell must have in order for the courts to render a ruling having the force of a sale contract.

Until now, judicial practice was divergent: while some courts required the authentic form of the promise in order to render a ruling having the force of a sale contract, other courts rendered such ruling even if the promise had been concluded as a private deed. The High Court pointed out that, if the legislator had considered that the promise to sell must necessarily be concluded in authentic form, he would have mentioned it expressly in the legal text, as he had done for the promise to donate. Moreover, the ruling of the High Court also has economic grounds. More precisely, the conclusion of a promise to sell in

Cristina BOJICĂ, Partner, GRUIA DUFAUT Law Office

authentic form entailed additional costs, plus the legal expenses to be borne by the party asking the court to render a ruling having the force of an authentic deed (for example, the stamp duties, calculated according to the value of the promised property).

Therefore, such additional costs may discourage those wishing to conclude a written document, with legal consequences. The High Court of Cassation and Justice also noted that the promise to sell follows the general rules for the conclusion of contracts, which establish the principle of the common consent, according to which the mere agreement of the parties represents a valid contract.

In practical terms, when the court renders a decision having the force of an authentic sale contract based on a promise to sell (whether concluded as a private deed or not), the judge checks the fulfilment of the general conditions of validity and the agreement of the parties. The court ruling thus rendered has the probative force of an authentic deed and fulfils the statutory solemnity requirements.

Teodora KOLETSIS, Senior Associate, GRUIA DUFAUT Law Office

Therefore, to require a solemn, authentic for a promise to sell would be an excessive, costly and unjustified condition.

Conditions of validity for the promise sell Regardless of the form of the promise to sell, before rendering a ruling having the force of an authentic deed, courts also check the content requirements a promise must comply with, among which: The parties’ identity; The price and its calculation method; The down payment; The real-estate property subject to the promise; The term for the conclusion of the sale contract; The date when the promise was concluded; The signatures of the parties. In accordance with the Code of Civil Procedure, the ruling of the High Court is compulsory for all courts, as of the date of its publication in the Official Journal, namely as of 17 May 2017.

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Can you define the main strategic role and the benefits for existing and potential clients of REMS, how would you characterize the strengths and services of REMS team?

The main benefits of working with REMS as your real estate solutions provider is the level of expertise our team has. We are all agents with at least 10 years of experience and we are all specialized on different sectors of the real estate market. So no matter what sector our customers need help with, they will always find a well prepared and eager to help agent. We like to simplify all the acquisition processes for our customers and offer them complete solutions. The after sales consulting is also one of our best assets and we get the best of feedback from our customers for doing it.

STRATEGIC EXPERIENCE. REAL TIME SOLUTIONS. Expertise and after sales consulting are two of the ingredients for the success of a consulting firm. REMS is offering customized solutions in one of the most desired regions by investors, as explained by Andrasi Tibor, senior broker industrial/office department.

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ow would you evaluate the results of your company’s business in the first half of 2017, in addition to 2016?

We are extremely satisfied with the results we achieved in the first quarter of 2017. We registered an increase of 20% for the office/ industrial segments in comparison to 2016. We are looking forward to finalizing the projects we are undergoing at the moment and tend to prospect a larger increase for the rest of 2017, especially for the industrial market.

Which type of clients in what sector are driving the market, how would you define the evolution of 44

projects, developers and investors plans in the last few years?

At this moment, customers pay close attention to the office market and corporate activities. The occupancy rate on this segment is close to 100%. Availability for A-class office spaces is achievable only under pre-lease conditions.

The market for industrial spaces also registered an important increase. It is hard to identify a vacant property. The big investments on this segment were made outside the city in the satellite towns. The project with the greatest reputation is the office project “The Office” that was completed in 2017.

From your perspective which are the key factors that can attract new projects for Cluj-Napoca and the surroundings are?

From our perspective the key factors in attracting new investments are: the infrastructure, the airport, the available opportunities in terms of sales and rents, the pro-EU culture, the multicultural environment and last but not least the qualified workforce. The major trend that is influencing the real estate development it’s the outsourcing, trend that has started back in 2003 and has registered a fast increasing trend ever since. At the same time the outsourcing has determined also the increase registered in the industrial segment along with the logistic services offered by the major national and international players.

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

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DPD, AN EUROPEAN LEADER IN COURIER WITH OVER 1 BILLION PARCELS DELIVERED PER YEAR DPD Group is one of the top courier companies in the world and an European leader in road deliveries. In 2016, DPD delivered more than 1 billion parcels worldwide, from which 9 million were delivered by DPD Romania.

DPD entered the Romanian market in 2008 by taking over Pegasus Courier, one of the first local courier companies.

Since then, DPD Romania has developed into one of the most trusted courier brands in the country, with a network of 80 highly technologized HUBs and centers.

In August 2016 DPD Romania opened a new logistics center in Bucharest, with an investment of 1.5 million euros. The warehouse has an area of 4,800 square meters and is located in Mogosoaia. In less than 6 month, the company expanded its logistic capacity in Sibiu, where the central hub of DPD Romania is located, with an investment of 1 million euros.

The warehouse, which accommodates 60 couriers, has an area of 4,400 square meters and its capacity allows handling and sorting 50,000 parcels and 4,000 pallets per day.

The growth of the Romanian e-commerce market and the company’s strategic investments in its IT systems and infrastructure, has seen DPD couriers deliver up to 50,000 shipments per month. This number is now 5 times higher than 10 years ago. Innovation is one of the core values of DPD, this

is the reason why the company is investing in equipping every courier in the country with a POS for card payments by the end of 2017, after implementing this service in Bucharest.

The B2B segment remains one of its strongest pillars, around half of the parcels shipped with DPD Romania come from and are delivered to corporate customers. In 2016, the company made a 2.5 million euros investment in its logistic capabilities and launched a new B2B product, Pallet One – pallets of goods can be delivered door-to-door, in 1-2 working days, just like regular parcels.

DPD Romania estimates that the revenue will increase by double digit in 2017, compared to the previous year. Also, the company expects to process around 10 million parcels by the end of the year. To support the business growth, DPD Romania will continue its investments in the organization’s IT systems and software, but also its infrastructure and fleet. This will ensure product and business processes improvement.

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MEASURED DECISIONS FOR BUILT ENVIRONMENTS SIXENSE is a group of world-class excellence specializing in infrastructure, soil and the environment in order to understand, analyze, anticipate and optimize clients’ investments. “With the entry on the Romanian market in 2011, the group focused on the needs of each real estate project proposing the latest innovations in the field, succeeding in revolutionizing this sphere of activity through its solutions for project management, risk management and asset management”, Mariana Garstea, Deputy General Manager Sixense Romania.

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ow could the potential beneficiaries gain strategic advantages by soliciting Sixense services?

As real estate is a business with long development cycles, from planning the construction, designing, constructing to operating the project, the beneficiaries need a proficient knowledge mainly when it comes to large and complicated projects. If I were to list some of strategic advantages, those would be: Global offer: Data Collection-Analysis and Consulting; Innovative and customizable solutions thanks to the wide range

of skills and expertise within the group; Comprehensive response to risk parameters (soil, structure and environment).

Which are the latest projects in Romania that integrated SIXENSE solutions?

We have quite a large portfolio of on-going projects, both public and privately owned, which cover various areas of expertise. We can enumerate some important ongoing projects: structural and geotechnical risks monitoring of the metro lines M4 and

M5 in Bucharest, Sighisoara & Danes tunnels, structural risks monitoring for Veranda Mall, Park Lake and AFI Mall in Brasov and Green Court Buildings B and C, and the list can continue.

Which are the latest global projects that SIXENSE is participating and a few examples of solutions provided that could be relevant to ongoing or planned projects in Romania?

Last year was a success for the entire SIXENSE group. Involved in numerous global projects among which we can enumerate: Melbourne Metro Project, Tel Aviv Metro Project, Paris - La Defense, Trinity Tower Project, etc and SIXENSE always delivers high quality, bringing innovation and expertise to each of them. Considering our experience on the Romanian market, we propose a comprehensive range of detection, integrated monitoring and modeling solutions to civil engineering and construction throughout the entire life of a project: geotechnical and structural monitoring, surface settlements and buildings movement, strain and vibration monitoring, structure integrity monitoring, noise, etc.

Which are in your opinion the main challenges for the real estate projects of the future and the sectors for which SIXENSE can provide solutions?

From our expertise, the main challenges for the real estate projects of the future will concern the sustainability of a building: maximizing safety, maximizing down-time, improving asset efficiency, prolonging asset life cycle. Anticipating the client’s needs, SIXENSE provides software solutions for the three main areas of activity in the construction field - project management, risk management for construction sites and asset management. „Measured decision for built environments” is not just our slogan, it is our legacy. Our experience in risk mitigation delivers safety for our clients and their property, ultimately providing peace of mind.

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Dan Zaharia, Senior Consultant, EXTIND Management & PIN Map Iasi

A MAP OF BUSINESS OPPORTUNITIES FOR IASI Extind Management launched this year “PIN Map Iasi - the Map of Modern Offices and the IT & Outsourcing Industry”, an inventory of business opportunities (office buildings, coworking hubs, industrial parks, shopping centers, IT schools, key atractions), proving the development of regional market in Romania. The project has planned expansion in Timisoara and Cluj, together with other business initiatives, including Fab Lab Iasi.

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he office market in the main secondary cities in Romania, and also from the Central Eastern part of the EU, cities which evolve in parallel with the IT&Outsourcing (these companies are the main tenants), has drawn the attention of the big real estate advisory firms, some of them global, such as JLL or Colliers, right from the first half of this decade. We also have our first statistics about the office space availability in the secondary cities of Romania (Iasi, Cluj, Timisoara and Brasov) since 2013-2014. In the following years one had to consult various sources, which are difficult to align in order to make a hierarchy of the Romanian secondary cities and projects. Furthermore, the

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extraordinary dynamic in the office market in Romanian secondary cities is reflected in the fast changes in availability and stock, also in the competition of cities in relation to projects developed. This facts constituted the basis for Extind Management (Dan Zaharia) to start the project “PIN Map Iasi - the Map of Modern Offices and the IT & Outsourcing Industry”, together with Adrian Mironescu and George Turcanasu as cartographer.

The number of buildings taken into inventory - many of them anonymous until now, some small - but attractive for startups, the pattern of their location - which tends to become a complex one, the appearance of some secondary poles

for future development located on the outskirts of the urban areas, are the main reasons why PIN Map is a necessary mapping project for Iasi - the only secondary city in Romania that now has such an extensive cartographic and promotion product, but Timisoara and Cluj will follow. More than 100 buildings with functional offices and forthcoming projects, industrial and technological parks, hubs, conference centers, universities, cultural centers of European or Non-European countries, and centers for the learning of foreign languages, shopping centers, main IT & Outsourcing buildings, charging stations for electric vehicles and all the emblematic buildings in Iasi over 300 objectives in total, which are basically the whole ecosystem of Iasi’s new industries - they all appear on the map suggested by PIN Map Iasi, launched in 2017. The recent inventory of office buildings made by the PIN Map Iasi team revealed that the number of IT & Outsourcing specialists in Iasi has more than doubled in 3 years to 15,000 (estimated for 2017) and the office stock exceeds 235,000 sqm (the third place in Romania, after Bucharest and Cluj). The modern office buildings are becoming the new software and outsourcing factories - engine for economic development of Iasi for the regional community of the metropolitan area of Iasi. PIN Map is not only a collection of maps to pinpoint things, which is still the main scope of the cartographic product, but is also a useful instrument for business people and the authorities, and a way to reflect upon the development of new industries and the urban and functional development of Iasi over the recent years.

The software factories…

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OFFICE the end of this year, according to the Extind data base) was equally supported by the appearance on the local market of some multinational companies such as: Fortech, ESET, Accesa, Preh or CRF Health; the expansion in their activity of some national and international companies, such as: Unicredit, Amazon, Centric, Ness, Conduent/ Xerox, Continental, Levi9, Pentalog, SCC, HEG and Gemini CAD Systems as well as by the numerous startups. The companies within the IT&Outsourcing field are the main clients of the office building market and they have created a big demand in Iasi. This pressure lead to an accelerated increase in the office availability, starting with the third term of 2015. Compared to that moment, the office space availability in Iasi has increased by 40% at present. Amongst the projects that were started from scratch we think it is worth mentioning: UBC5 (inaugurated in 2016, 15,000 sqm), Tester 2 (2015, with over 7,700 sqm), Aria, The Regional Technology Centre, Bursa Moldovei or Centris, etc. The increase in availability was also supported by the refurbishment of some existent buildings: Moldova Business Center (formerly a shopping mall, inaugurated as an office building in 2015, with 11,600 sqm), Jad (an ex-building in the industrial park, inaugurated in 2016, with almost 10,000 sqm), UBC 6 (previously a multiplex cinema in the PALAS area, inaugurated as an office building in 2016, with 9,300 sqm), Deco, Michael (both formerly administrative buildings), etc. The inventory of office buildings revealed a few structural characteristics of

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George Ţurcanaşu, member of PIN Map Iasi Team, Phd., Cuguat – TIGRIS Research Center, Lecturer at Geography Department, „Alexandru Ioan Cuza” University, Iasi

the stock availability in Iasi. Here are two of the most important ones: only 14 of the office buildings are class A (11,000 sqm); the office building availability in Iasi is one of scattered small buildings; the average office building in Iasi has slightly over 2,300 sqm GLA. Out of the buildings considered, 38 are under 1,000 sqm (together they add up to over 20,000 sqm), and 33 of them have a GLA between 1,000 and 2,500 sqm (an availability of 47,000 sqm). The two categories together represent 2/3 of the number of office buildings, but if we consider their GLA, only 29% of the entire availability in Iasi; only 12 buildings have a GLA over 5,000 sqm (almost half of the entire stock).

If we take into account that the class A office structures, which are

also bigger, are almost fully leased, these characteristics of the office space availability in Iasi better suit start-ups then the big multinational companies, who have to rent space in two or more buildings, to begin with. As far as the location of office buildings around Iasi is concerned, we can notice a centralized pattern, of a CBD type, overlapping the triangle made by Sf Lazar, Palatului and Anastasie Panu Streets, which concentrates almost 100,000 sqm of office space, an area consolidated over the last two years, by the inauguration of some of the above mentioned projects. South of this area, there is a secondary nucleus emerging along Soseaua Nationala (National Road) and the left banks of the river Bahlui, between Podul de Piatra and Podul Ros. With an availability of 20,000 sqm this area could become a southwards extension of the CBD. Some other locations worth mentioning are some secondary concentrations of office buildings in the Central-Eastern area (Tester Technology Park), and the ones on the outskirts, west of Pacurari, The Industrial Area, Socola, or the area South of the city- a more dispersed area, along the Poitiers Boulevard and Nicolina Road. The central and North and West of the CBD areas have smaller buildings, scattered amongst the residential area. Although we do not lack in new office building projects for the near future, the growth for this year is going to be slower than we WWW.TRANSILVANIABUSINESS.RO

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OFFICE have experienced in the previous years. From amongst the known future projects, by the end of this year the following office buildings will be added to the existing ones: The MCM Center (previously the Central market, refurbished into offices - over 4,000 sqm) and a few other refurbished residential or administrative buildings on the industrial estate. The big buildings, needing more time, some of them of over 10,000 sqm or thereabouts (Ideo2, Tester 3, Moldova Center 2, Iulius Office, Diamond, Ropharma, Greenfiber, Continental 2, Egros etc.) will be delivered between 2018-2020. By the end of 2020 we estimate (based on the projects that have been announced) an availability of 350,000 sqm which will maintain Iasi in the top 3 secondary cities in Romania, making our city competitive in the field of IT&Outsourcing amongst other Central and East-European cities. The cartographic exercise we are suggesting - the areal density of office space for the first term of 2017 and the prospective for 2020 (in kernel, over a 564.3m radius, which describes a circle with an area of 1 sqkm) and the sketch of the expansion models for office buildings, within the same time interval, reveal important shifts in the office structures. The most active areas are going to be the Central-Eastern area, along the Elena Doamna-Tudor Vladimirescu roads, the industrial estate and the Southern and Western outskirts of Iasi. Any inauguration of a big office building has a positive effect in any analysis on a higher scale (regional, national or regionalEuropean), which means Iasi is becoming more competitive amongst the other regional cities.

and international economic publications. The selected indicators are representative for the size of the IT&Outsourcing Sector (number of employees), for the degree the economy of this field has become international (the number of outsourcing centers), and for the localization factors, which reveals the cities as centralizing poles for talents - number of students, accessibility by air - number of air passengers, but also of the office stock. In order to make up for the insufficient representation of airport accessibility, we inserted potential access to international airports on maps - an indicator based on a potential interaction between the mass of potential passengers and the number of passengers/the distance from the airports within 200 km (between 2-3 hours of travel, depending on the quality of the travel infrastructure). The fact that Brno,

Lodz or Brasov do not have big airports, does not impede on the possibility of development within the IT & Outsourcing Sector, as they are situated in areas with great accessibility to international airports such as Vienna or Prague, and Warsaw or Bucharest. The fact that the big Polish cities (Krakow, Gdansk, Wroclaw, Katowice or Poznan) have the size of their IT sectors similar to the capitals of nearby countries rather than to that of other secondary cities, could also be the effect of a busy economy. These are the main urban centers of some FUA which are getting close or have more than 1 million inhabitants. Compared to the above mentioned Polish cities, the best positioned Romanian cities (Cluj, Iasi or Timisoara), have more modest indicators. We would say this is not a sign of weakness for these cities, but more of a potential for growth in the near future.

International context Another map defines the IT&Outsourcing profile of the 23 best positioned cities in the Central-Eastern Europe region: 11 from Poland, 6 from Romania, two each from the Czech Republic and Bulgaria and one each from Hungary and Slovakia. The criteria selection of these was based upon demographics (over 200,000 inhabitants in core areas and over 300,000 inhabitants in the Functional Urban Area, according to the Eurostat), economic potential and public profiles in national 54

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THE LIBERTY TO ACCELERATE BUSINESS Fribourg Capital, a private equity and venture capital fund based in Bucharest and operating in Eastern Europe and the CIS, has been heavily involved in the development of the Romanian tech entrepreneurial community in recent years, investing in a major refurbishment project to create Liberty Technology Park in Cluj, founding and developing the Spherik Accelerator Program for startups and launching this year the Fribourg Digital Division, responsible for managing EUR 20 million for tech startups investments.

Spherik, the tech startups accelerator from Cluj-Napoca, hosted by Liberty Techology Park, runs its 4th program this year managing to attract teams from all over Romania and neighbouring countries.

It was founded in 2013 as an NGO by Liberty Technology Park, Transilvania Bank, Babes-Bolyai University and Technical University of Cluj-Napoca.

The accelerator targets early-stage tech and tech-enabled startups from Central and Eastern Europe & CIS, helping them validate their business case and move into regional/international markets. Selected startups receive access to an extensive list of benefits, from specialized mentorship, to working space and hands-on assistance in product building and go-to market strategy, to the opportunity to get up to 1 million investment. “In the past 3 years we saw a steady maturing of the startup teams in the CEE region, Romania included.

Spherik Accelerator evolved according to the real needs of the teams and our 56

program offers more comprehensive benefits packages”, explains Dan Sturza, the Investment Manager in Spherik.

“Our main goal is to foster tech startups grow faster, but also secure their chances to succeed worldwide. We’re building a

solid ground for them, so at the end of the program they will be ready to get a significant round of funding and continue to grow”, states Nina Moldovan, CEO Liberty Technology Park and Spherik’s President. The acceleration program begins with a validation phase, then startups move into the acceleration phase lasting 3 months when they focus on product development, go to market strategy and getting ready to pitch in front of potential investors. During these both phases the teams access specific areas of support from the program’s team, mentors, corporate partners and other communities of practice.

Convergence to digital In June 2017, Fribourg Capital announced the launch of Fribourg Digital Division, responsible for managing a new EUR 20 million investment fund dedicated to IT start-ups. Fribourg Digital investments will target innovative start-up companies that need support to accelerate their activity that have already developed an MVP (Minimum Viable Product) or are in the seeding phase, but are able to show

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that they have already attracted users or that there is a market for their products.

Depending on the acceleration level or seed level of the start-ups, Fribourg Digital will invest between EUR 20,000 and EUR 250,000 in the first round of funding.

Investments can continue in consecutive growth rounds if the projects confirm their potential. “From our observations, most start-ups fail not because of the idea or the product they designed, but because they fail to turn them into a viable business. Fribourg Digital comes to fill these gaps in the Romanian entrepreneurial environment. Thus, by mobilizing the technical expertise we have in the companies we invested in, as well as the investment ecosystem created so far, we will focus on what we do best: to provide selected projects with operational excellence, appropriate marketing and a coherent exit strategy. Fribourg Digital wants to be a strategic investor, not just financially, with maximum involvement in the companies it finances. It will be our differentiator in the investment market” says Ion Sturza, managing partner of Fribourg Capital. Eligible companies include those that develop technology or other products with a major technological component, with a team of founders proving entrepreneurial excellence, complementary skills (technical, sales, analysis) and whose members share similar values. Verticals with large selection opportunities due to geographic development prospects in the coming years (whether local, regional or global) include block-chain, fintech, artificial intelligence, machine learning algorithms, software and cloud-based integrated solutions (SaaS, PaaS and DaaS). Fribourg Digital is the first investment entity in Romania to manage a fund dedicated to start-ups, of such magnitude, 100% of local resources. At the same time, Fribourg

Digital will benefit from a separate investment management and evaluation team, made up of technology investment specialists and financial analysts.

Liberty Technology Park Cluj, fully leased Liberty Technology Park Cluj announced in 2017 its latest resident: IBM Romania opened its fourth business services center in Cluj-Napoca, after Bucharest, Brasov and Timisoara. IBM tops a list of companies like Siemens, KPMG, Arvato Bertelsmann, Altran, Halcyon Mobile and Control Data Systems, who chose the technology park inaugurated more than three years ago in Cluj-Napoca, to develop their local operations. Altogether, 30 mature companies and start-ups, Romanian and foreign, totaling almost 2,000 employees, make up the complex ecosystem of Liberty Technology Park Cluj. „We started from the idea of developing an area where people have access to innovation, technology, ideas; an area where people can communicate effectively and creatively with each other.

We have developed the infrastructure specifically designed for IT&C, created the right conditions, and now by fully occupying the technology park, the concept and the ecosystem have been complemented by our vision with a mix of companies pursuing innovation. The

long-term plan is that Liberty Technology Park Cluj will become a true creative and production center”, said Ion Sturza, president of Fribourg Capital, the developer of Liberty Technology Park Cluj.

The 4.5 ha project includes five buildings, totaling 17,000 square meters of Class A office space. 70% of the residents are IT companies, and more than half have software and R&D departments. The Technology Park also hosts start-ups with Romanian and foreign funding. In total almost 2,000 people are working at Liberty Technology Park Cluj, almost 200 of whom are relocated (expats). More than half of the total area is occupied with green areas, sports ground, grill and coworking spaces, indoor and outdoor facilities. The technology park has a high degree of energy efficiency and has received many distinctions for both design and functionality, and last year it was awarded BREEAM „Excellent” certification for building D and E developed in the second phase of the project. The average rental area of the companies is 550 square meters, while two tenants occupy over 3,000 sqm each, and two more than 1,000 sqm each. Liberty Technology Park Cluj, re-branding the former Libertatea factory, was launched on December 5, 2013, and has a third phase of development planned (36,000 sqm land free of construction - opportunity for new development).

Fribourg Capital is a private equity and venture capital fund based in Bucharest and operating in Eastern Europe and the CIS. Its fund projects are appreciated as leaders in the industries in which they operate, demonstrating that Fribourg Capital leads the notion of investment to growth to a whole new level. From the portfolio of Fribourg Capital, companies operating in areas such as IT&C, Real Estate, Natural Resources, Industrial Production and Agriculture have been involved in recent years. Currently, the fund focuses on online and technology companies with active investing in elefant.ro, SEO Monitor, Upswing, Liberty Technology Park, Spherik Accelerator or Planable.

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THE UNIQUE STORY OF VIRGIL TORNOREANU From Timisoara to Vienna and back. The man who develops businesses for the future in Timisoara.

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e was born in Timisoara, but left for Austria aged 21 with only his football shoes and a training suit in his luggage. He worked as a translator and in constructions but also studied business informatics in Germany and art in Italy.

He is an IT programmer, but also his own airplane pilot. And now he’s about to complete the development of the greenest office building in Romania, after an investment of 30 million euros. ”Timisoara is the Munich of Romania!” says Virgil Tornoreanu, the 48 years entrepreneur who build from zero more successful businesses in Timisoara. He left the city where he was born immediately after the Revolution, heading to Austria without knowing two sentences in German. He worked hard, powered by his thrive for knowledge, and adapted easily. In his pursuit of getting a high-degree education, he graduated from Business University in Germany (specialised in informatics) and also from Construction Management in Vienna.

At the same time, he worked for nine years in a construction company in Austria, advancing from technical draftsman to general manager, and, in the meantime, being passionate about IT, started developing software programs for himself, in order to optimize the processes in the company.

Forever in love with his hometown, he returned to Timisoara at the end of 2005 and his experience in constructions

and IT blended in nicely. He started a construction company and the launch of the iPhone made him see that the future will go into this direction and that the technology market will explode in the coming years, and thus started Vox Filemaker Solutions, a software company in which he was the first programmer. The company developed in a steady rhythm and during the economic crisis years it became the main focus, over 90% of its business coming from big companies and public institutions in USA, UK or Netherlands.

Meanwhile, the long hours commuting from Timisoara to Vienna and back gave birth to a new passion, airplane piloting, and seeing the city from above, observing the development of Timisoara made Virgil Tornoreanu want to invest in modern real estate projects, built by German standards. This is how Rivendelle was developed, a residential project that made his western business partners say that it could easily be put in any part of Austria.

And his latest investment goes even further: Vox Technology Park, the 26,000 square meters office project in Timisoara that will be delivered at the end of this year, is one of the most modern buildings in Romania, with innovative facilities, from biometric access, electrical vehicle loading stations, showers and changing rooms for the employees or the highest score awarded by BREEAM for a green real estate project in Romania – BREEAM Excellent Interim Certificate, 85.6% overall score.

And as the entrepreneur says, Vox Technology Park will not be just a building but a business hub, a place where the young professionals from Timisoara and start-up companies will thrive. ”It is a project for the future, a place where innovation will meet with the most talented minds from our city, a place which will put Timisoara on Europe’s technology map.”

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For the segment of those addressing the electric cars users, Telekom Romania provides a recharging station designed to help the drivers of electrical vehicles to find, book and pay very easily the recharging of the ecological vehicles.

Also, the municipality can benefit from these solutions for a fixed monthly fee, adapted to its particular needs.

WHY SO MUCH FOCUS ON THE SMART CITY SOLUTIONS? Smart City already takes shape as a modern model of managing the cities, which changes the landscape of the cities we live in. And what we see is the top of the iceberg. Still, how much do we know about what can be seen?

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n Romania, the most active provider of Smart City solutions lately is Telekom Romania, with a consistent portfolio of solutions especially designed for the improvement of the daily life of the citizens. The most visible were the smart parking solutions, street lighting, public safety, but the list is much longer and includes also solutions for bike sharing, waste management, energy distribution and saving and many more.

The same category includes the solution for the waste management, which addresses mainly the utilities companies which will be able to better manage the services of collecting the waste. The solution can provide to the municipality inclusively information on the quantity of waste collected by trucks and transported to the waste dumps.

To better display the functioning and benefits generated, Telekom Romania recently implemented in Constanta, in partnership with ZTE Romania and the Constanta City Hall, a pilot project which includes a smart parking solution, one of smart lighting and a multifunctional tower. The smart parking part ensures the management of the parking lots, momentarily in the area of the Sports Hall in Constanta, but it can be developed for any urban area. Through the smart lighting solution, the municipality will reduce significantly the energy consumption with the help of the LED technology. The multifunctional tower drew the attention mainly through the diversity and versatility of the functions provided: electric cars recharging dock, Wi-Fi area, environment parameters monitoring, video surveillance and display for public interest messages and advertisement.

The project in Constanta is the second developed by Telekom Romania, after the one deployed in 2016, in partnership with the City Hall of the 4th District in Bucharest.

Among the less advertised solutions is the air quality monitoring one, which can be implemented at costs much smaller compared to the traditional monitoring stations, having as main effects a decrease of the spendings allocated for the medical services and the increase of the life expectancy for citizens.

Another solution in the Telekom Romania portfolio is the Smart City platform for the management of the information, which can allow local administrations to see in real time the occurrence of issues and what would be the best solution to solve them.

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GLOBAL URBAN PLAYER - A NEW VISION FOR IMMOCHAN ROMANIA Tatian Diaconu, CEO Immochan Romania, defines the pillars for future successful developments in regional cities in Romania.

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hat strategic arguments determined the acquisition of Coresi Business Park, how does it change the profile of Immochan in the region/in Romania?

Immochan has a new business vision, that of an integrated operator who believes that real estate is a response to urban uses and challenges. As a Global Urban Player, Immochan is creating multi-functional use projects that bring life and cohesion at street, neighbourhood and city level. The acquisition of Coresi Business Park was the logical pursuit of our road already started in Brasov.

Coresi Business Park integrated the office component in Coresi District, completing thus the functional mix and the urban catalyst spirit of the project in Brasov, along with the shopping resort and residential complex.

How would define a successful developer/investor in the current market conditions, what is necessary to succeed in the Romanian market?

Our perspective on success lies in projects with added value for all our stakeholders – clients, residents, employees, citizens, public and private players. This is why we believe that intelligent urbanization in partnership with local authorities represents the opportunity to create mixed spaces that go beyond their immediate functionality and give sense to the community they address. Another success factor for us is the relationship with local communities – that we strive to continue to animate and serve. Lastly, we believe that success is sustainability. We are committed to integrating each project sustainably into its region, with the main objective of helping those who use our premises to thrive. We co-construct with communities to design the city and uses of tomorrow.

How would you characterize the evolution of Brasov from the moment Immochan decided to invest here?

In 2012, when we decided to invest in Brasov, we understood the city’s growth potential and we committed to a long-term project of urban regeneration – Tractorul platform represents 8% of the city surface. Thus, in December 2015, we partnered with Avantgarden Immo Invest to develop the residential project Coresi Avantgarden. The acquisition of Coresi Business Park offices reaffirmed our belief that real estate needs a new vibration, that of partnerships and collaboration. The numbers behind the project speak best about the evolution of Coresi in Brasov: animating annually over 9 million visitors, creating 1,000 jobs, building a total of 3,000 apartments, and now offering more than 2,500 employees and 30 companies a smart place to grow their careers and businesses. To our belief, the key words for development in Brasov in the years to come will be: partnership, care for communities, intelligent projects and sustainability.

What type of indicators you use when deciding a new investment/development in secondary/tertiary cities in Romania, how would you describe the feeling of investors for projects in regional market?

For secondary and tertiary cities, we don’t believe in the development of medium projects, but rather in two types of projects – regional ones that offer inhabitants an integrated experience, as is Coresi District, or proximity ones, that are located in the heart of neighbourhoods and can offer smart shopping opportunities. We want to build landmark projects that contribute to the development of the country and, for that, we believe in co-creating them along the side of an important actor - local authorities. We invest in cities where we find the potential for developing multi-functional projects, that bring added-value for the community and serve people and territory’s needs.

Having in mind the 5 years anniversary of Immochan in Romania, what is your vision on future plans and team here?

Immochan will carry on its role of Global Urban Player and Community animator in order to develop those unique projects that bring joy to people day by day. We strive to provide cities with personalized projects and to carefully listen to communities’ needs. We will continue our role as a major partner having as purpose to make a strong and positive contribution to the development of the country, along with local and central authorities.

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VARSO - THE TALLEST BUILDING IN CENTRAL EUROPE ALREADY UNDER CONSTRUCTION Varso is a unique new hotspot for businesses, residents and tourists in the heart of the Warsaw city centre. The mixed-use scheme – developed by international real estate company HB Reavis – comprises three buildings including a spectacular office tower designed by the international architectural studio Foster + Partners. Locals and tourists alike will be able to enjoy unique views of the capital’s skyline from the rooftop observation deck 230 metres above the ground, making it one of the highest in Europe.

This all-in-one development which aims to revive the most centrally located brownfield area in Warsaw is scheduled for completion in 2020.

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his is a really exciting time for HB Reavis with several major developments under way in Warsaw, Bratislava and Budapest which will bring great change to each of those cities. In Poland, the company has already established itself as one of the most successful and innovative real estate players, but thanks to Warsaw’s largest development under way, it is entering into a completely new level.

“With 144,500 sqm GLA available in Varso we are creating an exceptional destination, a new hub for local and international business and leisure in Warsaw. This is possible thanks to the unique grouping of Foster + Partners’ international experience and our Warsaw-based HRA Architects’ ‘feel’ for the city. Together, we will bring new life to the locality while at the same time improving the appearance of, and access to, the surrounding public

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spaces. Overlooked for decades, this part of Warsaw’s city center is now undergoing a complete transformation,” said Stanislav Frnka, Country CEO for Poland at HB Reavis.

Open to the public and with an inviting atmosphere Varso Tower will be the tallest building in Poland, as well as one of the tallest in Europe, offering well-designed, flexible and modern office spaces. It will also feature an observation deck 230 metres above the ground, which is double the height of the current highest viewing point in the city, located at the Warsaw Palace of Culture and Science.

Spectacular views of Warsaw and the metropolitan area are also in store for visitors to the restaurant on the top floors of the building.

“We believe that the Varso Tower will have a unique place on Warsaw’s skyline, but most importantly it will establish a new destination capable of revitalising this urban quarter, right in the heart of the city. The building contains highquality office space, but it also makes an important contribution to the city with its glazed public courtyard at ground level and the spectacular viewing platforms with restaurants at the top,” commented Grant Brooker, Head of Studio, Foster + Partners, who is leading the design team in London.

The vibrant ground floors of the two mid-rise buildings designed by the Polish architectural firm HRA will provide both office tenants and local residents with a wide range of facilities and services including shops, restaurants and cafés. Some of them will also be accessible from the street, while others will offer outdoor seating areas.

Modern workplace right in the heart of Warsaw Varso is situated in a truly unique location offering excellent transportation links for visitors and professionals working in the building. The nearest metro and commuter railway stations are within just a few minutes’ walk from the scheme and there are around 30 bus and tram lines available close by. Direct access to the Warsaw Central Railway Station also means easy access to other Polish cities. The Warsaw Chopin Airport is under 30 minutes away by train. Varso will also provide around 750 bike racks as well as dedicated changing rooms and showers. A brand new bike track will run next to the complex. In addition, there will be spaces for cars and motorcycles in a 3-storey car park stretching under all the Varso buildings.

The average office floorplate in the Varso tower will be ca. 1,500 sqm and up to WWW.TRANSILVANIABUSINESS.RO

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4,000 sqm, providing highly adaptable office space for one or more companies on one floor. All buildings will provide a total of approximately 140,000 sqm of perfectly fitted office space.

Urban renewal and first class green solutions

individual temperature control, with additional access to fresh air inside the offices provided by triple glazed thermally insulated windows with pivoting panels. Substantial savings will also be ensured by LED illumination solutions and smart double-deck lifts provided with an energy saving system.

Varso will improve the local environment and surrounding public spaces with extensive new planting and street furniture. The buildings will be provided with state-of-the-art technologies to reduce electricity and water consumption as well as air pollution, such as a free cooling ventilation and air conditioning system, which uses low external air temperatures and can be switched to night mode. All rooms will enable

HB Reavis flagship development, as the very first scheme in Central Europe, has joined the exclusive group of buildings worldwide that are able to boast a WELL Building Standard™ certificate, which is the first one to focus on enhancing people’s health and well-being through the building environment. Varso has already been awarded the Core & Shell precertificate at the Gold level, which will be complemented by a final WELL certificate

after the handover in 2020. Varso will also be the first project of this scale in Poland to be rated “Outstanding” by BREEAM. “Varso will accommodate corporations as well as start-up businesses looking to make use of the prestigious and vibrant location in the heart of the city. The scheme’s user-led design will cater to professionals working in the area and offer a place to meet after hours. The observation deck, which will be open to the public, will allow its visitors to see the beauty, history and prosperity of the Polish capital city. I’m convinced Varso will appeal to both young and old, as well as Warsaw residents and visitors, turning it into the new symbol of Warsaw, worthy of the 21st century,” – summarized Stanislav Frnka.

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Timpuri Noi Square - VASTINT

REDEFINING THE HORIZON Major projects and investments are being developed in Bucharest and regional cities, taking the competition for tenants to new business districts and attracting more money and interest on the regional scale. Business in Romania – redefined.

Vastint Romania is closer to reach the planned 100,000 sqm lettable area in the city center - Timpuri Noi Square. Bog’Art was appointed as the general contractor for the third building with a total surface of 20,000 sqm lettable area of modern, class A office and retail area. Located in the city center, 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 centers, shopping centers, Carol & Tineretului Parks, Vacaresti Nature Park, banks and further administrative hubs. Timpuri Noi Square has a planned leasable area of 100,000 sqm of office and retail, plus 50,000 sqm of residential space. The third building investment is a continuation and enhancement of the largest mixed use project located in the city center of Bucharest. The first and second office buildings comprise a total of 32,000 sqm lettable area and are now fully functional.

The construction works of the third building are planned to be completed in H2 year 2018. Earlier, VASTINT has obtained the building permit for a second office complex in Bucharest, called Business Garden, located on 159, Calea Plevnei – Orhideea area. Business Garden Bucharest consists of three buildings, 66

that will bring up to 41,000 sqm of class A office and retail space to the market. It will be the first Business Garden complex in Romania and the sixth of its kind across Europe.

Towers at Orhideea. 30 years anniversary.

Bitdefender, a global security technology company, leased 9,267 sqm of office space in Orhideea Towers in Bucharest

for a minimum term of five years, bringing the pre-leasing rate of this project to approximately 65%. Developed

by CA IMMO and comprising 37,000 sqm of gross rentable floor space, this premier class A, certificated LEED Gold office development, will be housing the Bitdefender Headquarters as of the first half of 2018, when the project will be carried to completion. Total investment is 75 million euros. “The development of Orhideea Towers is enabling us to complement our toptier tenant base and, at the same time, meet the expansion plans of Romania’s fastest-growing companies such as Bitdefender, many of whom are longstanding partners. With this project, we are consolidating our local market position while adding another class A structure to our almost fully let asset portfolio in Bucharest”, Frank Nickel, Chief Executive Officer of CA IMMO, declared. Located in the west of Bucharest, Orhideea Towers benefits of an easy and diversified access (by Orhideea Towers - CA IMMO

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OFFICE car, subway, tram, etc.), respectively of an excellent visibility. CA Immo was founded in 1987, is now active on the core markets of Austria, Germany, Poland, Hungary, the Czech Republic and Romania. CA Immo has been active as a proprietor in Romania since 2001, where the company owns five office buildings: Opera Center 1 and 2, Riverplace, Europe House and Bucharest Business Park.

Founded in 1987, CA Immo controls property assets of around € 3.7 bn in Germany, Austria and Eastern Europe.

Skanska, two more projects Skanska began the construction of the first phase of Equilibrium office project located in the northern part of Bucharest, in the Barbu Vacarescu - Floreasca area.

The first building will comprise of 20,800 sqm GLA and has an estimated delivery time in Q2 2019. Upon completion, the entire two-building complex will offer 40,700 sqm GLA “It is a very exciting year for Skanska as we are starting to develop our third office project in Romania. We chose to further expand our presence in Floreasca - Barbu Vacarescu area, in the northern part of the city, as we remain confident that this continues to be one of the popular areas, offering definite advantages to all our future tenants.

The look of the location will be totally changed, as the design, architecture and place making of Equilibrium bring novelty and innovation”, said Aurelia Luca, Country Director Skanska Property Romania. Skanska commenced also the development of Campus 6, the office project located in the Central-West area of Bucharest, in the proximity of University Politehnica of Bucharest. The company invests EUR 37.8M in the first building of Campus 6, a project that has Globalworth Tower - Globalworth

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Equilibrium - Skanska

a total leasable area of 82,000 sqm, and the office project consists of four A class buildings. The first phase will comprise approx. 22,000 sqm, with eleven stories above ground and two levels of underground parking, and the estimated delivery time for the first building is Q3 2018. Skanska invests EUR 37.8M in phase one of Campus 6 office project in Bucharest.

20 years anniversary for Portland Real estate developer Portland Trust has leased 35,000 sqm of office space in the Orgeon Park project in Bucharest.

This stands for 78.6% of the built area in the first phase of the project, which entailed two buildings with a total surface of 44,500 sqm. The second phase of the Oregon Park project entails the development of the third building, with a gross leasable area of 24,500 sqm, with a deadline for the fourth quarter of 2018.

The three buildings will total 69,000

sqm of net leasable space. Portland Trust was established in 1997 by Robert Neale, also its general manager. Portland Trust is a commercial real estate developer and asset manager headquartered in Prague, Czech Republic and with an office in Bucharest, Romania, and has had a long term joint venture with ARES Management L.P. The total amount of net space constructed in Czech Republic and Romania is approximately 650,000 sqm with 100,000 sqm under or starting construction in 2017.

Savoir-faire by Globalworth Globalworth announced the acquisition

by Elgan Offices Srl of a 57,000 sqm land plot previously owned by Coca-Cola HBC Romania and the development of Groupe Renault Romania’s new headquarters in Bucharest. Elgan Offices Srl is a company equally owned

by Globalworth and the Elgan Group (represented by Simon Roth). On development completion (expected in Q1 2019), Groupe Renault will occupy the entire development spanning over 47,000 sqm for a minimum term of 11 years.

This is the largest leasing transaction ever recorded in the Bucharest office market. Groupe Renault’s new headquarters will be located in western Bucharest, next to Preciziei Metro Station. This is the second tenancy that Globalworth has signed with Groupe Renault Romania following the recently completed acquisition of Dacia’s main distribution facility near its Mioveni factory. As a result of this transaction, Groupe Renault Romania will become Globalworth’s largest tenant. Also Globalworth became the of the Green Court Bucharest complex, developed

by Skanska. The complex, located in the North of Bucharest, in the Barbu Vacarescu - Floreasca area, comprises three class „A” office buildings, all of WWW.TRANSILVANIABUSINESS.RO

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OFFICE commercial and residential property.

With the Romanian branch of business established since 2004, Day Group has successfully developed and transacted in Bucharest, up to date, more than 35,000 sqm and 500 apartments on the residential side, being also engaged in the development of 12,000 sqm office space in Downtown Bucharest and in a Mixed – Use Redevelopment project in Bucharest Central – Northern area.

NEPI – a neighbour of the Government

The Bridge - Forte Partners

which have been LEED Gold certified and offers a total gross leasable area of 54,300 sqm. In addition, Globalworth was part of the Romanian Governemnt campaign in trying to attract the relocation of the European Medicines Agency (EMA) in the Globalworth Campus. Phase “A” of the project, currently under construction, will comprise 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 three main office towers offering c.

87,800 sqm of GLA. In partnership with BT Capital Partners – a company of Banca Transilvania Financial Group, Globalworth announced at the end of July, the admission to trading on the Bucharest Stock Exchange (BVB) of the corporate bonds issued by the company with total value of EUR 550 million - the largest issue of this type in the history of BVB.

IBM leased 18,000 sqm in The Bridge Real estate developer Forte Partners leased 18,000 sqm office space out of a total of 36,000 sqm of The Bridge office building, located near the Basarab overpass, in Orhideea area.

LEED GOLD certificated project The Bridge, now in its first development stage, will deliver a total of up to 57,000 sqm rentable area, a central courtyard, 616 parking places indoor, 72 parking places outdoor, among other facilities.

Following this transaction, IBM will join the other tenant of the office, BCR. Forte Partners joins shareholders with strong background in Romanian real estate, such as Ionut Dumitrescu (founder of Eurisko, the Romanian real estate agency which has been sold to CBRE), Geo Margescu (projects 70

such as Europolis Logistic Park, the headquarters of Millennium Bank and the Louis Blanc office building) and Jabra family (founders of Nova Brasilia business sold to Kraft Foods). At the moment, the real estate development group has in its portfolio 15 income generating properties with a mix of high street retail, historical mansions, boutique and newly built office buildings.

Different days at the office Day Tower is currently developed by Day Group at the junction of Unirii Boulevard and Mircea Voda Street and promises also spectacular view across Unirii Square. Employees of the companies will have the opportunity to work in one of the largest commercial area of Bucharest, where Districts 1, 2, 3 and 4 meet. The project has 19,000 sqm total built area and 11,753 sqm gross leasable area. With over 50 years of experience, Day Group is an International Property Development and Investment platform, engaged in Designing, Engineering, Construction, Redevelopment and Lease/Sale of

NEPI Rockcastle, the merged entity between the two South-African investment funds – New Europe Property Investments (NEPI) and Rockcastle – completed the office complex located in Victoriei Square in Bucharest following an investment of EUR 37 million. Aviatorilor 8 has a total leasable area of over 7,700 sqm and consists of an avant-garde office building, a little square open to the public and Oromolu Villa recently restored. General Electric, Fitbit and Philip Morris are among the tenants of the office complex. NEPI Rockcastle’s Romanian portfolio includes Mega Mall, Promenada Mall, Vulcan Value Center, Shopping City Timisoara, City Park Constanta, Ploiesti Shopping City, Braila Mall, Targu-Jiu Shopping City, Severin Shopping Center, Deva Shopping City and other shopping centers.

NEPI Rockcastle also owns Floreasca Business Park and The LakeView both in Bucharest, City Business Center in Timisoara and The Office in Cluj.

Atenor, one more project To meet the growing demand for offices in the heart of the Romanian capital, ATENOR has developed a complex of office buildings and shops of nearly 72,000 sqm in the business district Dimitrie Pompeiu, which channels with Atenor - Hermes Business Campus

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OFFICE the neighboring district - FloreascaBarbu Vacarescu, the majority of the new office building developments in Bucharest. Located only three metro stops away from Victoriei Square, the administrative center of Bucharest, and only 25 minutes’ drive from Henri Coanda International Airport, and in an area that continues to develop, as the planned connection to A3 highway will put the Hermes Business Campus only 7 minutes driving distance from the motorway. The project was completed as follows: HBC1 in Q1 2014, HBC2 in Q1 2016 and HBC3 in Q4 2016. The campus is now home to 30 tenants. Active for 10 years in Bucharest, ATENOR has decided to strengthen its position within this growing market by acquiring at the end of 2016 a new plot of land, located in the city center of Bucharest. The plot also houses a historic building which will be renovated and integrated in the future project, thus allowing the city to recuperate an extremely beautiful edifice of cultural importance.

Competition in Timisoara One of the major real estate investments in Romania is currently underway in Timisoara where Iulius is developing Openville, the second mixed-use project in its portfolio, a combination of more than 130,000 sqm of office premises in

on over 55,000 sqm, and 4,050 underground and multi-level parking spaces, after around 220 million euros investments. Iulius and Atterbury Europe have established recently a joint financial fund, with equal participation shares (50/50) for the development of the mixed use project Openville Timisoara, as well as other development projects to be started. Atterbury Europe is a European real estate investment company with an emphasis on coinvesting with local partners who are leaders in their jurisdictions, with access to a development pipeline that can be accelerated. Romania is Atterbury Europe’s third investment jurisdiction after acquisitions in Serbia and Cyprus.

Nokia, a new life in Romania Optim Project Management was recently assigned Project Manager for a new mixed commercial development (retail & offices) in Timisoara. Bega Business Centre is developed on Republicii Blvd., close to the city centre, on a plot of land of approx. 23,000 sqm and will integrate class A offices together with retail functions – restaurant, coffee shop and services area. The new development, second building with a regime height of B+GF+7F+Technical Floor, has already obtained the building permit. With a GBA of 21,850 sqm, the office building is

of office space outside Bucharest. Thus, Nokia occupies the first building of 15,700 square meter, expanding by a further 1,420 square meters, and preleased 10,230 square meters in the second building of the business park which is going to be delivered in 2018. Forward, a third building will be developed, at the end the total surface of the business park will be around 73,000 sqm.

ISHO, a well-rounded concept Mulberry Development, the real estate developer controlled by Ovidiu Sandor, has secured a loan from Raiffeisen Bank for the first phase of Timisoara-based ISHO Offices. The first phase of ISHO includes the development of 16,500 square meters of leasable office space.

The construction works have started this spring and the first spaces will reach the market starting March 2018.

Meanwhile, the developer is negotiating contracts with companies interested in relocating their operations in this office complex. “There is growing interest in the market from companies with activity in IT, telecom, automotive, engineering and services,” said Sandor.

ISHO will be completed in 2020 and has 3 development stages. It will include over 50,000 sqm of office space, 1,200 apartments, and 2,000 parking spaces alongside additional features such as green spaces, restaurants and afterschool facilities. The total investment in the mixed-use project is estimated to reach EUR 130 million.

Novis Plaza in Cluj

Openville Timisoara - Iulius Grup

seven office buildings, 131,000 retail sqm, more than 450 stores, restaurants and themed cafés, a multiplex cinema, a fresh market area and four events halls.

Moreover, the people in Timisoara will also enjoy the largest suspended park in Romania, a green space spanning 72

offering 126 underground parking places and a green area of 3,810 sqm. Finnish Nokia will move all its operations in Timisoara to Bega Business Park, owned

by Emil and Marius Cristescu, where will occupy a total area of over 27,000 square meters, becoming the largest occupier

Novis Plaza is the newest office building in Cluj-Napoca, setting a new standard and trend for the sustainable and contemporary office space. The Class A building offers up to 14,000 sqm of open space with premium technical solutions such as LED illumination, technical floor, a 400 sqm natural lit Atrium and over 1,500 sqm of recreational spaces of terrace and piazetta. Conveniently located within 8 minutes from the city center and 5 minutes from the Central Park, the project includes over 300 parking spaces, establishing the highest ratio of parking spaces per employees in Cluj-Napoca. The biophilic design and the solutions implemented position Novis Plaza as a Class A+ project. Novis Plaza is developed by Transilvania Constructii, a noted real estate developer, and investor. At the end of 2017, Novis Plaza will open the lease for Building B, with approximately 6,911 sqm of space, divided into custom offices, terraces and recreational areas.

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SUSTAINABILITY - ONE OF THE MOST IMPORTANT PURSUITS OF AHK ROMANIA AHK Romania engages with great attention and energy in the areas of sustainability, education and legal stability, creating its own strategic structures. In recent years, we developed three new initiatives, namely: econet romania, EduPro and the Court of Arbitration, which reflect our activities in the above-mentioned fields.

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nder the umbrella of econet romania (www.econet-romania. com) we carry out all activities in the field of green technologies, being active in several sectors: renewable energies, energy efficiency, wastewater treatment, waste management, sustainable development of cities and so on – in other words, everything related to sustainability is approached by this platform. As part of the econet romania initiative we organize conferences, symposiums, business trips to Germany for interested Romanian companies and institutions and to Romania for German companies wishing to enter the Romanian market.

The participants can gain a first impression of the visited country, of the way in which certain solutions and technologies work, about the legal framework in force, and, what is really very appreciated, they can establish new contacts with potential business partners. To support the business activities of our members, we set up two working groups within econet romania: one dealing with environmental issues and one dealing with energy. Both groups are also represented in the CDR (Romanian Development Coalition).

Germany has been Europe’s leader for green technologies, energy efficiency and sustainable buildings for years. In order to achieve a more

“Cities of tomorrow” conference - Bucharest

Romania’s stand at Expo Real Munich 2016

concrete transfer of know-how, we believe that exchanges of experience between Romania and Germany should be increased, for example in the area of local administration and city development. We are trying to contribute to this by organizing in Bucharest the annual conference “Cities of Tomorrow”, to which we invite experts from Germany and representatives of Romanian companies and local authorities to find ways to collaborate with each other and to learn from one another how to achieve effective development of the cities of the future. Our aim is to find out how cities, regions, and in extenso all of Romania can become more competitive and more attractive to us, those who already live here or

those who will in the future. This year’s edition of „Cities of Tomorrow” was the fifth one and was characterized by both the large number of participants – over 300 persons – and their quality and also by the interest shown during the conference, which has become an important platform for interaction between public authorities and private companies. This event is offering the possibility of an intense exchange of information, experiences, and, last but not least, the creation of new business contacts. In addition, we organize the joint booth of Romania at the EXPO REAL fair in Munich - the largest European exhibition for real estate projects and investments worldwide (www.exporeal.de), in October (this year for the sixth time in a row). Our exhibitors come from both the private and public sectors, and enjoy the Romanian-German Chamber’s support regarding everything that involves their participation and promotion. EXPO REAL is, in our opinion, an excellent opportunity for companies and institutions to present their investment projects or the products and services they offer.

Every year, during the first day of the fair, we also organize a conference dedicated to Romania. Alongside the very interesting and well-prepared speakers, distinguished guests and many other visitors of the fair attend the conference.

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THE LEADER FULFILLING MARKET NEEDS CTP is Romania’s leading industrial developer specializing in the delivery and management of custom-built, high-tech business parks throughout CEE. CTP is a long-term investor, owner and manager of the properties we build, and we have a vested interest in developing buildings that add value for the companies which work in them, and for the communities in which they reside.

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hen we made our first investment into Romania in 2007, we did so knowing the country had all the makings of a powerhouse.

Following the fallout of the global financial crisis, Romania emerged as a strong player, and is now coming into its own, with record investment levels and high GDP growth due to the highly skilled labour, sound infrastructure and overall favourable economic climate.

The increased investment is driving the industrial real estate market, which is expected to break all records by the end of 2017 regarding the 76

volume of new deliveries and overall leasing activity. The demand for both logistics and industrial space is increasing, and we see this as an opportunity for growth. One key fact is that the country has room for growth: the existing stock of industrial and logistics space was 2.5 million sqm at the end of 2016, of which 1.2 million sqm is located in the greater Bucharest area. That translates to a density of 128 sqm per 1,000 inhabitants­—lower than any other country in CEE. For example, in the Czech Republic and Slovakia, there is about 400 sqm of industrial space per 1,000 inhabitants.

There is clearly an undersupply of quality industrial space in this market of around 20 million people.

For 2017, the forecast is that the total industrial stock will reach 3 million sqm, again, with almost half being built in and around the capital. As for Bucharest, nearly 75% of the new space is planned along the A1 highway corridor to the west of the city.

According to market forecast, manufacturers, retailers and logistics companies will lease more than 350,000 sqm of the industrial and warehouse space delivered. In first quarter of 2017 alone, more than 100,000 sqm was transacted.

The demand is led by the FMCG, e-commerce, electro-IT and logistics companies, and their need for welllocated, large-size warehouse facilities.

E-commerce has exhibited the highest growth, comprising 20% of total demand. The automotive sector is also growing, and many of CTP‘s existing automotive suppliers are looking to expand their facilities in order to fulfil car producers’ requirements.

The overall economic situation in Europe, as well as the low interest rate environment, continues to support the demand.

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CLUJ-NAPOCA TURDA ARAD DEVA TIMIȘOARA

SIBIU

PITEȘTI

BUCHAREST

CTPark Network in Romania

CTP believes we are in the right place at the right time to leverage the economic conditions to balance the undersupply to meet demand. CTP’s portfolio in Romania is growing constantly, both in Bucharest and at other strategic locations throughout the country such as Cluj, Piteşti, and Timişoara among others.

With over 400,000 sqm currently under construction throughout the country, in addition to our existing 615,000 sqm portfolio, we are well beyond beating our target of 700,0000 sqm by 2018.

While we have grown quickly in Romania, we have not cut corners on quality. CTP’s reputation throughout our markets is one of high quality: in terms of materials used in our buildings, which ensure long building lifetimes. All of our new buildings are built to high BREEAM standards, delivering energy efficiency and cost savings to our clients over the long term. In addition to buildings, we believe in delivering quality services for our clients after they move in, to ensure that they are comfortable and happy in their new premises.

We also believe in creating a quality work environment, developing green, landscaped parks, incorporating onsite amenities like worker canteens, doctors’ offices and convenience stores, which creates an enjoyable work environment for both our clients and their employees.

CTP plans to continue to be the leading industrial developer on the Romanian market, while maintaining our high standards for building and service quality. And in doing so, we expect to strengthen our position by reaching a total of approximately 1 million sqm GLA no later than Q1 2018, and to build our portfolio to more than 1,250,000 sqm by the end of 2018. The conditions are right, there is room for growth and CTP is in the right location to deliver to space that will address the ongoing undersupply currently on the market.

Ana Dumitrache Co-Country Head, Romania ana.dumitrache@ctp.eu

Radu Ciobanu Business Development Manager radu.ciobanu@ctp.eu

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Oana Piticas, Associate, Noerr

INDUSTRIAL PARKS: AN OPTION FOR GREENFIELD INVESTMENTS

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ith 76 industrial parks registered as of April 2017, ranging from 5.5 ha to 253 ha, most of them with a well-developed infrastructure and access to utility networks, Romania continues to represent an attractive location for foreign investors seeking opportunities to develop Greenfield investment projects in Eastern Europe. Therefore, local communities where industrial parks are located are enjoying an accelerated economic development, some cities hosting industrial parks becoming regional hubs for certain industries.

From a legal perspective, the history of industrial parks in Romania has been quite sinuous. Without claiming to perform an in-depth

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study of the matter, we will try to provide a summary of the main legal requirements investors must fulfill in order to become residents of an industrial park, the challenges they may face and the main facilities granted by the applicable legislation and local regulations.

The first law governing the set up and functioning of industrial parks (Law no. 134/2000) entered into force in September 2000 and survived no more than approximately 1 year, when it was repealed by the Government Ordinance no. 65/2001.

This Ordinance governed the setup of the majority of the existing industrial parks in Romania and has been in force until July 2013, until it was itself repealed by Law no.

186/2013, which is still in force.

According to the current legal provisions, industrial parks can be either developed on former privatized industrial platforms, with the prior approval of the Romanian Government regarding their privatization strategy as industrial parks, or by any Romanian or foreign legal entities, including local public administrative authorities (County Councils or City/Local Councils), either alone or in cooperation with other legal entities, on land plots in their ownership.

The setup of an industrial park implies the setting up of a special purpose company according to the applicable legal provisions, company that will function as the administrator of the industrial park and will thus be empowered to select the future residents of the park based on certain criteria and enter into agreements by which residents shall acquire the right to use an attributed land plot. Typically, industrial parks have been developed at the initiative of public/local authorities. Thus, as a rule, the managing (“administrator�) company of an industrial park is in most cases a publicly held company, which the relevant local authority (County or City/Local Council) has specifically set up for this purpose.

The selection process and the particular rules of each industrial park are stipulated in the regulations approved for each industrial park. Investors should carefully review the specific regulations of the respective industrial park and familiarize themselves with the applicable conditions and requirements (i.e. their rights and obligations as residents thereof), since such regulations will govern the development and implementation of their investment from the start of works up to the final completion and also during the entire future business operation.

Investors need to pay particular attention to the selection process: as a general rule, for most industrial parks, the residents are selected either through an open tender procedure, or through direct negotiations, the latter being used WWW.TRANSILVANIABUSINESS.RO

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usually for investments exceeding a certain value established in the regulation of the industrial park and especially in case the administrator company of the industrial park is the rightful owner of the land pertaining to the park. However, investors need to bear in mind that according to the Public Administration Law no. 215/2001, land plots belonging to the public or private domain of the State or of an administrative unit (i.e. county, city, commune) can be attributed to third parties/ investors solely by means of a public tender procedure. The distinction between public and private domain of the State or local municipalities is important, since land plots belonging to the public domain thereof cannot be encumbered (mortgaged) or thereafter sold to the investors. Such land plots can only be concessioned or leased, subject to a mandatory prior public tender procedure. The tender procedure is mandatory also for land plots belonging to the private domain of the State and/or local municipalities, either for sale, lease, or other real rights.

By becoming residents of an industrial park and by securing certain land plots within the park (either by purchasing the respective land plots or by concluding a superficies or a concession agreement onto those land plots, depending the ownership right status within that industrial park and on its specific approved regulations), investors will acquire the right to use the land plot, i.e. the right to erect the constructions/facilities needed for the development of their project and, as the case may be, a preemption right regarding a future purchase of that respective plot.

With respect to securing specific land plots within an industrial park, special attention is to be paid to lease and concession, should such structures be offered by the industrial park’s representatives as options for securing land plots within the park. Whereas (i) a lease agreement is not suitable for such an investment, unless the building that will be hosting the future investment already exists and is

Roxana Dudau, Associated Partner, Head of Real Estate & Construction, Noerr

leased to the investor together with the respective land plot (as based on a lease agreement, the lessee/tenant acquires only the right to erect temporary/provisory constructions upon the leased land plot), (ii) a concession right can be granted only by public authorities (Romanian State or the municipalities) onto land plots belonging to them). Therefore, before opting for such a structure, both the legal regime of the land plot itself, as well as the compatibility of the industrial park’s regulations with the Public Administration Law no. 215/2001, have to be thoroughly analyzed in order to avoid any potential third party claims.

Regarding the facilities investors in industrial parks may benefit from, such may include exemptions from several taxes such as the property tax onto the land plot and/or onto the constructions erected thereupon, or from taxes for the issuance of specific permits such as the urbanism certificates, building permits etc.

Residents of certain industrial

parks may be granted the right to purchase the land plot under certain conditions (i.e. after they have accomplished a certain part of the envisaged investment) which are detailed in the respective applicable regulations of the industrial park.

Considering (i) that some of the existing industrial parks have been developed by local authorities on land plots in their ownership (whereas in some cases it is not clear whether the respective land belongs to the private or to the public domain of local authorities with all the implications deriving thereof), (ii) that assets belonging to the public domain of the State or the administrative units are subject to a special and more strict legal regime, and (iii) that each industrial park has its specific regime/regulation, the performance of both a legal and a technical due diligence by investors interested in developing projects in Romanian industrial parks is highly recommendable, if not even mandatory.

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WDP: 500,000 SQM OF LOGISTIC CENTERS AND PRODUCTION SPACES IN ROMANIA WDP’s property portfolio in Romania, via its joint venture WDP Development RO, is in full growth. For now, there’s no less than 200,000 sqm of buildings under construction. These pre-leased buildings will be completed before mid 2018 and will extend the Romanian property portfolio to a total area of about 500,000 sqm of warehouse and production space, with a total value of approximately 220 million euros.

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reativity, flexibility and solutions make up the core of WDP’s DNA. Building new warehouses in logistical hotspots tailored to your logistical or industrial demands is just one facet of what we do.

We also rent out an extensive portfolio of semi-industrial real estate on a permanent or temporary basis, all in excellent locations, we refurbish existing buildings in line with your needs, we drive down your energy costs, and so much more. We can also set up, together with you, a sale & rent-back operation.

Business pulse For WDP Romania new projects are in progress. The existing site Aricestii Rahtivani (in Ploiesti area) is being expanded with a newly built warehouse with offices of about 4,500 sqm for Kamtec, a specialist in car parts, which is signing on to a long-term tenyear lease agreement. Delivery of this site is scheduled for Q1 2018. Works will start soon also on a second site near Ploiesti, Paulesti, for production spaces of approx. 15,000 sqm for Norwest and Global Enterprises.

At the Industrial Park Oarja (Pitesti area), one of the current tenants wishes to double the current surface area of its warehouse / production space. So WDP will deliver by WDP Industrial Park PItesti - Oarja

Q4 2017 approx. 8,000 sqm space for the automotive specialist Röchling under a longterm ten-year lease agreement. Within the same site a new distribution center of approx.

40,000 sqm will be also erected for the logistic service provider Ceva, as they want to set up dedicated logistic activities for Pirelli.

Full expansion of development pipeline in Romania Early 2017, WDP already announced new construction projects of approx. 200,000 sqm in Romania. The industrial park at ClujNapoca is being further expanded. At this site, supermarket chain Profi is centralizing its retail service for fruit and vegetables for the Transylvanian region. WDP has started the phased construction of a refrigerated distribution center with offices, totaling more than 17,000 sqm, with delivery scheduled for Q1 2018. Profi is signing on to a long-term ten-year lease agreement. A new construction project for Arcese was delivered and this logistic service provider will lease a surface area of more than 5,000 sqm under a five-year lease agreement. After delivery by an external property developer, the buildings (for now for KLG, Gebruder Weiss, Arcese, BAT, Profi etc.) will be added to the WDP property portfolio.

The ongoing collaboration with the retailer Profi will be implemented also on a new site of WDP. At Roman, located in the North-East of Romania, a phased new construction project of approx. 35,000 sqm was started. Profi is signing on for a fixed long-term ten-year lease agreement after delivery of the site, scheduled during Q4 2017.

Development of a second project has started also at the new site in Bucharest area (Stefanesti), in the vicinity of the newly built Decathlon warehouse of approx. 30,000 sqm.

After delivery (scheduled for Q4 2017), retailer Carrefour will move into a distribution center of around 11,000 sqm with an expansion to 16,000 sqm under a ten-year lease agreement.

Another park in Bucharest area (Dragomiresti) is growing, currently being scheduled new spaces for Aquila and other logistic companies.

Kuehne+Nagel will not only be a WDP property tenant in the Netherlands. The international logistics service provider will move into a newly developed distribution center of about 5,000 sqm and will sign on to a five-year lease agreement. The new site is being set up in Timișoara, a new region in western Romania where WDP wishes to offer modern storage and production space ( e.g.: TE Connectivity and other companies will join Kuehne + Nagel in the first phase of approx. 25,000 sqm). The region is of major logistical value, given its location along the important Pan-European Corridor IV. These corridors are crucial for efficient logistics between West and Central Europe.

Besides Timisoara, WDP is consolidating its position in the West of Romania by developing also in Oradea, both logistics and production spaces. Kuehne + Nagel and Inteva with approx. 20,000 sqm are the first partners of WDP here, but others will follow shortly.

2017 is marking also a new start for WDP in Constanta area, in Mihail Kogalniceanu, where a modern industrial park will be developed, with direct access to E60 and port area. The first partner here is Vestas, with logistic services for windmill parts.

Strategic view For the totality of its projects under construction, WDP is assuming an initial gross rental yield of around 9%. After 80

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WDP develops and invests in industrial property

finishing these new construction projects, WDP’s property portfolio in Romania reaches a total surface area of around 500,000 sqm of warehouse and production space, good for a value of approximately 220 million euros.

Joost Uwents, CEO of WDP: “Our expansion presence in the Romanian market is in full swing. We’re expanding the number of square metres not only by expanding our existing customer relationships, but through expanding our existing locations as well”. “Besides, these investments are proof of the anticipated growth forecasts for Romania of more than 4%.

These investments are not only lodged in the sector of production companies, but we’re now also developing new distribution centers for the purpose of growing local consumption”, says Jeroen Biermans, WDP’s General Manager for Romania.

WDP Industrial Park - Apahida (Cluj)

company and values are the hallmark of our commitment. “We create the space in which companies can shape their future.

We are logistics 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, which is the most essential part of the WDP DNA” - Joost Uwents, CEO. WDP has been listed on the Euronext stock exchange since 1999 in Brussels and since 2015 in Amsterdam.

More information about WDP can be found at www.wdp.eu.

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

Who is WDP? WDP develops and invests in logistics and production property (warehouses and offices). Our portfolio amounts to 3.5 million sqm. This international portfolio of semi-industrial and logistics buildings is spread over more than 160 sites at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg and Romania.

WDP continuously provides wellinsulated buildings using sustainable and renewable energy. In conjunction with well-considered energy use this results in greener warehouses and distribution centers and consequently to cheaper warehouses. We differentiate ourselves by careful monitoring your utility costs.

We calculate the cost savings of an existing warehouse by comparing its energy consumption, primarily lighting and heating. The family character of our

Oradea

Roman E60

Timi oara

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NORTH-EAST REGION, ROMANIA YOUR BUSINESS DESTINATION North-East Regional Development Agency, the first regional-type institution in Romania, is a NGO, with public utility, being a generator of social-economic development of the North-East Region. Our agency develops strategies, attracts resources, identifies and implements financing programs and offers services for stimulating sustainable economic development, partnerships and entrepreneurial spirit.

Amongst our social-economic and political concerns of 1999, at a time when our organization was established, we had to introduce a new concept: the regional development policy. Through a sustained cooperation with the six county-level public administrations (of Bacau, Botosani, Iasi, Neamt, Suceava and Vaslui), which have signed the agreement for setting up the NorthEast Development Region, we have succeeded gradually in turning this concept into reality. During those years, when we elaborated the first regional social-economic analysis, established the strategic fields of intervention or launched the first non-reimbursable grant scheme at regional level, all these have been considered as our first committed, then achieved objectives.

If during the pre-accession period our main concern was focused on setting up regional partnerships, defining the 82

strategic framework which to provide the guidelines for the future funding and promoting the region as an attractive area for investments and tourism, after the 1st of January 2007 the area of our concerns and interest expanded naturally including also new commitments and responsibilities resulting from the new position of Romania, as European Union Member State.

Business opportunities key sectors The North-East Region of Romania nurtures a clean, stable and safe business environment by linking to macro-economic EU framework conditions and by implementing European Commission’s Smart Specialization Strategy (RIS3). Based on that, our team started a mapping and appraisal

SIRET - industrial park BUCECEA - industrial park

MIROSLAVA - industrial park

VASLUI - industrial platform HIT - industrial park

LEGEND EXISTING industrial parks FUTURE industrial parks / platforms WWW.TRANSILVANIABUSINESS.RO

INDUSTRIAL process of the existing high potential value chains in the region. The main focus of this process is on closing the loops in each value chain, to make the transition to a circular economy, and to transform the missing links into investment opportunities. The main key sectors are: biotechnology, textiles and new materials, IT&C, agro-food, waste, water and energy.

Industrial parks Legal incentives; deduction of taxes perceived for destination change or for the removal of the industrial park area from agrarian circuit; tax deduction for the land coincident with the industrial park area; tax deduction for buildings pertaining to industrial park infrastructure; exemption from the payment of some taxes due to the local budgets of the administrativeterritorial units; any other facilities which can be awarded, according to law, by the local public authority.

Private investments office: From the desire to differentiate and be more visible and connected, the NorthEast Regional Development Agency set up a new department in 2015, the Business Development Directorate, which has four general directions with well-established objectives: 1. Private Investments: support private investors that intend to expand or develop new activities; 2. Internationalization: expanding local business operations at international level and increasing competitiveness and innovation; 3. Sectorial Specialization: identify and develop key sectors; 4. Start-Up: developing an entrepreneurial ecosystem that will lead to an increase in the number of innovative and competitive start-ups;

North-East Regional Development Agency 9, Lt. Draghiescu Street Piatra Neamt, Neamt County Romania 610125 Business Development Directorate Private Investments Office Cosmin Cristal cosmin.cristal@adrnordest.ro +40 759 037 043 Robert Cotuna Robert.cotuna@adrnordest.ro +40 746 857 193 www.investnortheast.ro www.adrnordest.ro

Our Services: • Assisting worldwide entrepreneurs in project implementation (one point of contact/assigned project manager); • Consultancy and guidance during all stages of the decisional process (state aid & fiscal incentives, legal fiscal policy framework & regulation); • Customized solutions for developing new or current working sites; • Main liaison between local/regional authorities, universities, R&D and Innovation centers; • Assisting with site selection and identifying local suppliers; • Facilitator for European Funding; • Matchmaking investor’s needs with the local resources (natural resources, HR placement and training companies, logistic infrastructure); • Mapping the best investment opportunities of the region (from brownfield or greenfield locations to joint-ventures, mergers and acquisitions opportunities); • Accessing the partnership resources of the Enterprise Europe Network; • Identifying business counterparts along vertical or horizontal value chains and organizing investment events; • Connecting investors with the entrepreneurial environment through the business incubator Rubik HUB; • High quality “after-care” services; • Our team is eager to reach the common goals together with our partners.

We support your business: • Solid network of training organizations and HR integrated services; • Qualified human resources, flexible and creative, good English literacy; • Less bureaucracy – more proficiency – timely, customized and efficient business support services provided by the NorthEast RDA; • Supportive regulatory framework for regional development (including the recent fiscal relaxation); • Strong university center; • Rich pool of local resources and opportunities; • Wide range of banking services available; • Quality life – unspoiled nature, quality food, well-known tourist area; • Easy access to local institutions.

Citizens/NGOs

Government/ Local Authorities/ Public Bodies

Universities/ R&D Innovation Centers

Business sector

”As far as I’m concerned, investors are not just buyers of assets, shares, etc. They are the people we invite into our homes to work together, to develop together and to win together. In the same manner one does not want unwelcome guests, neither do investors look for unfriendly hosts.

Therefore, we do not want to just „attract investment”, but build lasting relationships based on correct knowledge, trust and common interests with people who want to experience the joy of discovering our region. The North-East Region is like a gift not necessarily perfectly wrapped, but valuable. It is a combination of value and age, underdevelopment and potential that you do not encounter too often. The factor that gives me the greatest faith in our ability to match, if not exceed, the best in the world today is our people, the growing number of young people and not only young, but well educated and well trained people, that want to and will get involved. So, I invite you to discover the places, the opportunities and the people here and I assure you that you will not regret it”, Vasile Asandei, General Director North-East Regional Development Agency

We boost your business: • The highest rate of active population in the country, at competitive costs (compared to EU countries and Romania’s other regions); • Competitive costs for utilities and real estate; • Industries with traditions in the region; • Land availability; • Variety of foreign languages spoken; • Power of adaptability.

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ZACARIA, ONE OF THE MOST ACTIVE REAL ESTATE DEVELOPERS Zacaria, headquartered in Sibiu, has secured this year a place among the most active developers in the industrial real estate segment in the country. As demand continues to grow, the company accelerated its projects and will complete, in 2017, around 56,000 sqm of new space, from which 20,000 sqm in Sibiu, 30,000 sqm in Craiova and 6,000 sqm in Oradea.

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s the new industrial parks reached a high occupancy rate, Zacaria began the construction of a new stock of 40,000 sqm which will be delivered next year, in Sibiu and Craiova, while closing deals on other strategic locations around the country. Overall, the industrial market continues on a positive trend, with a high demand on spaces designed for logistics, manufacturing, commercial or R&D.

Succeeding with Build-to-Suit In recent years, Zacaria focused on build-to-suit industrial projects that provide tailored solutions to meet each client’s needs, strategic locations and superior facilities. This concept, which is increasingly popular among investors, is appealing mostly to growing companies in need of tailored packages of industrial space that allows financial flexibility through rental contracts on medium to long term and minimum initial investment. „The build-to-suit concept is becoming increasingly appreciated in the industrial real estate market. Investors are motivated to open subsidiaries in Romania or expand their existing business due to the possibility of having

a space built to their own needs without investing in projects that consume considerable time and financial resources. Advantages are multiple, ranging from speed of execution, quality guaranteed by the developer’s experience, flexibility of the cash flow that a long-term lease offers and the opportunity to benefit from a strategic location. With a continuously increasing portfolio of sites, Zacaria provides the opportunity of choosing the location that best suites the customer, with excellent access to road infrastructure.

Companies don’t have to face the risk of land acquisition, an expansive and uncertain purchase, which can greatly delay a project”, explains Emilia Ţepeş, Zacaria’s National Sales Manager.

Growing portfolio From 2009 until now, Zacaria has developed industrial spaces with a total area over 300,000 sqm. Currently, the developer owns 10 industrial parks in six cities: Sibiu, Alba Iulia, Arad, Oradea, Craiova and Cisnadie, but continues to develop its industrial projects portfolio by purchasing land and warehouses in a wide range of locations throughout the country. In

2018, the company will see the launch of at least four new projects in key cities for the industrial market, as demand is steadily rising. With more than half of the industrial centers securing rapidly a 100% occupancy rate, the developer had to speed up the existing projects. The first unit of 20,000 sqm from Network Industrial Park, located in Sibiu, near the exit of A1, will be delivered this year, while the second lot, of 26,000 sqm in 2018. Network is one of the most ambitious Zacaria’s projects, comprising of two warehouses with a total area of 46,000 sqm which will be developed according to the customers’ requirements. A new stock of 13,000 sqm in Southern Industrial Park from Craiova will also be available in 2018.

Zacaria’s financial strength, enhanced, by an experienced development team will ensure that the new facilities will be developed on time and meeting outstanding quality standards. Zacaria offers fully serviced, standard or build-to-suit facilities for companies, regardless of their size and complexity.

The turnkey units range from 400 sqm to 30,000 sqm and can be tailored to costumers’ requirements, so companies can focus on their core business with a cost-effective lease rate. “Based on our experience, build-to-suit facilities have proven to be the most efficient solutions on market. Investors have the opportunity to focus their finance, time and energy on their business, while we, as their partners, provide the best personalized space solution”, says Emilia Țepeș, Zacaria’s National Sales Manager.

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Banat Business Park

READY FOR NEW INVESTMENTS Banat Business Park, the largest industrial park in Western Romania, has been officially inaugurated in May 2017. The largest industrial park in Western Romania is ready to open its doors to international companies interested in developing production, logistics, research or technological development in Eastern Europe.

Banat Business Park is located in Sanandrei commune, 5 km away from Timisoara, the capital of Timis County and an important economic, tourist and cultural center of the

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Western part of Romania. Regarding access ways, the industrial park is located at the intersection with the future express road which will make the direct connection between A1

Motorway Budapest - Bucharest, E69 and Timișoara (the city being located on European Corridor IV). At this point, the link between E69 and A1 is made on the Timișoara Ring Road, one km from Banat Business Park and continues on the current DN 691 road. The park has a total area of 85 ha available land, an approved zonal urban area plan and benefits from infrastructure developed to meet the demands of any customer: 250 MW available electric power, fire extinguishing system and FM Global certified hydrants, gas, water, sewer and optical fibre. The lots, 41 in total, are sold with all utilities included in the price and they can be joined or divided, if the client requests it. Banat Business Park is certified according to Law 186/2013, receiving the title of industrial park in December 2016.

The clients of the industrial park benefit from exemption on taxes and duties for a period of 49 years, under the provisions of Law 186/2013 and according to the Decision number 21 of 27/07/2016, made by the Local Council of Sanandrei Town Hall. „Among the first clients of Banat Business Park are the German company B. Braun, one of the world’s leading suppliers in the field of medical products. B. Braun is active in the production of medical device and pharmaceutical production and dialysis, with approximately 800 employees in Romania. In the following period, the German company will start a greenfield investment in Banat Business Park, which will be built at WWW.TRANSILVANIABUSINESS.RO

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For more details:

Sanandrei: an infusion solution factory, a scientific research and development center with specialized laboratories and a new logistics center. The start of the investment shall begin at the end of 2017 – early 2018 and aims to be completed until 2020, generating about

250 new jobs�, said Georg Bardeau, Development Manager at Banat Business Park. For more details, please contact us at telephone number +40 0756 090 689, contact person: Iancu Oana Simona - Development Manager, e-mail: office@banatbusinesspark.ro.

Oana Iancu Developer Manager Mobile phone: +40 756 090 689 Email: oana.iancu@banatbusinesspark.ro Georg Bardeau Developer Manager Phone: + 40 256 200 488 Email: office@banatbusinesspark.ro www.banatbusinesspark.ro 87

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MURES INDUSTRIAL PARK, FUTURE OPPORTUNITIES Mures Industrial Park is running successfully for more than 12 years now. Within companies operating here, there are about 2,700 employees, there are premises for a growing number of investors in the upcoming period, on the industrial site near Transylvania Airport and Transylvania A3 Highway.

Mures 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 2,700 employees work in the Mureş Industrial Park, 22 concession contracts are signed and the 9 companies are active. The companies in the Industrial Park operates 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

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 88

the most employees is Hirschmann Romania. At the moment there are still available almost 5.0 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 Mures Industrial Park, whether it is about production or services, but it should have non-polluting activity.

We established that the area to be used is a minimum of 1,500 sqm.

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 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/ sqm/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, the Transylvania A3 Highway, under construction).

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.

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FRISOMAT ROMANIA, A LEADER IN THE STEEL BUILDING MARKET Frisomat Romania is one of the leading players in a very dynamic market: industrial buildings. For over 20 years, the company grew to a whopping 800+ projects build across the entire country, with applications ranging from agriculture, logistics, sports, leisure, offices, warehouses and production.

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onut Radulescu, Commercial Director of Frisomat Romania, talks about what it takes to build a strong company that delivers strong structures that support a wide range of businesses across Romania.

Who is Frisomat Romania?

Frisomat Romania is a subsidiary of Frisomat Belgium. The company celebrates this year 40 years of excellence worldwide, with an expansion over 5 continents. In Romania, Frisomat has 22 years of experience. We have been pioneers of the light, strong steel structures, and we have managed to stay at the top of this market. We have done all this with a firm grip on quality control, a very successful planning, that allows us to deliver a building in up to 4 weeks and to have it operational in up to 4 weeks. Most importantly we have managed to create a business culture that understands the client and delivers custom solutions to his needs.

What makes Frisomat buildings special from any other buildings?

It all begins in the project phase.

We listen to the needs of the client and we draw the perfect project that meets those needs. We call it a custom standard. Then the plans go to the production plant in Belgium where all the production takes place. It is there that our production standards are monitored and improved, it is there where our plans rely on the constant innovation that defines Frisomat. We are proud to say that our structures are on the cutting edge of development. We use the best cold formed steel to create the structures.

And one very big, yet small innovation that makes everything fit together perfectly: The Frisobolt. It is a special bolt, created in our research and development department, patented

by Frisomat. This small bolt is one of the key elements in our building process. We use thousands of them in every building. They truly are the work horses and our company’s trademark.

How can Frisomat build so fast?

What is the secret behind a 8 week build of a 3,000 sqm building?

It’s the Meccano system. It’s also one of our patented trademarks. We build every structure like a big puzzle. This building system allows us to have a minimum impact on a building site. We don’t use heavy machinery. We bring all the materials on site and we build clean, we are able to have a minimum set up time for every build. Basically we use two elevators, a team of up to 10 people and a lot of Frisobolts. It is quite a view to see our teams at work. For Agriplanta Fair, we managed to build an entire building in only 3 days.

How can a building fit so many destinations?

It is quite simple actually. Our project teams spend a lot of time for understanding the needs of the client.

We come with quality, endurance, resistance as a standard. Our structures are designed to resist to every storm. That would be hurricane winds, heavy snow and a 7 earthquake, all at the same time. This is our standard. On top of that we add to every project whatever the client needs. Doors, windows, cargo halls, office space, production space, we add

insulation, anything really. We had one project where the client wanted to add balconies to the second level of the structure. We delivered. When it comes to destinations, every client has a different application in mind.

Our job is to create a safe, strong and operational structure that would last for years to come. That is why we say that our structures have a 50 years’ warranty on the structure. So it is easy to start with a building for a production unit, then convert it to logistics or offices. But we have built anything from agricultural warehouses to auto services to go cart tracks and sports centers.

What comes next for Frisomat Romania?

We will continue our efforts to innovate. We have just introduced to the market a Go series. These are standard buildings for entrepreneurs that are at the beginning of their road and are in need of a quick and strong solution to start their business. We have also expanded our portfolio with the new Delta+ building that is perfect for agriculture and small and medium logistic companies. We are expanding our reach to more industries and we are also proud that we are building in all 41 counties of Romania.

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DURKOPP ADLER ROMANIA, 20 YEARS OF PERFOMANCE With a turnover of over 20 million euros in 2016 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.

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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 was also 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 computer-aided 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,

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there was no need for a substantial increase in staff, in the recent years.

However, Dürkopp Adler Romania has almost 400 employees, with minor fluctuations, 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 was a year of performance for Dürkopp, continuing the growth trend in recent years. In the last four years, total

investments made by Dürkopp Adler amounted to over 6 million euros, of which investments in machinery and equipment 3.8 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.

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NEW OPPORTUNITIES & INVESTMENTS IN CRAIOVA The High-Tech Industry Park in Craiova (in Romania’s Dolj County), which will be fully operational at the end of 2018, has already attracted ten companies that will invest around 6 million euros and will create 625 jobs.

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he industrial park has a total area of 24 hectares and will be completed following an investment of about 19 million lei (4.2 million euros).

The park officials are expecting a total number of 15 investors and 2,000 new jobs. “Currently, ten companies are located in the High-Tech Industry Park of Craiova, they are planning to invest 6.1 million euros and to create 625 jobs. The fields of activity range from the manufacture of paper, leather items or articles of clothing to software engineering. All the residents will The plots of land in the industrial park can be leased through public auction, and the minimum monthly rental cost is 0.45 lei/mp (0.1 euro/sqm) without VAT, according to the Park company’s data. High Tech Industry Craiova is owned by the company High-Tech Industry Park Craiova S.A., whose shareholding is split between the County of Dolj (99.90%) and the company Parc Industrial Craiova S.A. (0.10%). High-Tech Industry Park Craiova is located in the eastern area of the city of Craiova, on European Road E574, at the entrance into the city of Craiova from Bucharest, at a distance of only 250 meters from the Craiova International Airport.

For more details: + 40 251 466 185; + 40 351 418 995; contact@ hightechindustrypark.ro.

build their own production facilities”, explains Dan Dasoveanu, General Manager of the park. The companies that will invest in the High-Tech industrial park are: Onerom Impex SRL, AA Tehnic SRL, Demimuma Comimpex SRL, Printgolden Media Design SRL, Fred Online SRL, Craipack Commercial SRL, Softrom Grup SRL, Medicaconcept SRL, Divers Eco Tech SRL, Cedy Liquids Logistcs SRL, according to the management of the park. These investors have leased 10 plots, a total area of approximately 6.4 hectares.

Most of the companies are in the process of drawing up the technical documentation in order to obtain the building permits. High-Tech Industry Park Craiova S.A., the company that owns the industrial park, envisaged a program of investments amounting to 19 million lei. The investments will be made from the companies’ own sources and from European funds.

“For 2017 and in 2018, High-Tech Industry Park Craiova has envisaged a program of investment totaling 19 million lei (4.2 million euros). 2.2 million lei will be invested in 2017, in the utilites network. The investments will be made from the companies’ own sources and also from European funds, subject to availability. At present, the Dolj County Council is drafting the application for accessing European funds. The administrating

company will make investments of 1.2 million lei in the utilities network in 2017”. The perimeter of the park is scheduled to be completed by the end of 2018. A part of the works for ensuring the connections of the utilities networks and the access roads to the leased plots have already been completed and the technical projects necessary for future investments in the park’s infrastructure have been finalized. Also, institutional procedures for adding 6 ha of land for investments have been initiated.

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INVESTMENT OPPORTUNITIES: ALBA NOW, BIHOR NEXT Two companies are investing in association and are developing a new industrial park in Alba County. The management highlights the key strengths that make Ocna Mures Industrial Park (PIOM) an asset extremely attractive for investors and the strategy to develop the park.

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hich are the key attraction factors of PIOM? 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.

Which 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 collaboration 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 92

the development of industrial sector focused on production activities in the undeveloped areas of the country.

foreign investors that can benefit from the facilities available in order to revive the industrial sector.

How would you characterize the potential of the city/region for attracting new successful investors and developments?

We believe Romania is a country with immense potential for both local and foreign investors focused on production activities within the industrial sector. This has been proven by the major investments announced and implemented in 2017 in the country and also in the region. Furthermore, we conducted a study on the area demographics since we have started the operations in Ocna Mures. The outcome of the study showed available work force 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

Ascom and Aloref are partners for PIOM (Ocna Mures Industrial Park) and other 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 is another industrial park located in Oradea, MIPO Metropolitan Industrial Park Oradea which is currently under development.

We will be ready for licensing this park in 2018. The surface is twice the size compared to PIOM and it also provides key facilities for manufacturing activities. 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. For more details: Ocna Mures Industrial Park - Ocna Mures, 1 Mihai Eminescu Street, Alba County; Ioan Bogdan - +40 723 559 109; e-mail: ioan.bogdan@piom.ro. www.piom.ro WWW.TRANSILVANIABUSINESS.RO

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SOLO LOGISTIC PARK THE EXPANSION Bogdan Pitigoi, president of Tester Group Iasi, investor and developer of logistic and office facilities in North - East Romania, defines strategic advantages for future business partners.

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ow can we summarize the current development of the park?

Solo Logistic Park is the only private logistic park in the North-East Romania, currently having 12,000 sqm warehouses/production halls, fully leased, and also comprising 2,000 sqm of office space. Due to requests from existing and potential clients, additional 11,500 sqm of warehouses will be developed until the end of 2017, spaces that can be used for logistics or production, with 1,500 sqm currently still available.

What are the future plans?

In the next phase of development, by the end of 2018, we will deliver another 10,000 sqm for production 94

or logistics operations, with tailored specifications from future occupiers.

Solo Logistic Park is located at the entrance in Iasi from Bucharest or Cluj-Napoca, a great access point from entire Romania (90% of the entire traffic towards/from Western Romania and Europe is registered here) and is close to the ringroad of the city, absorbing heavy traffic without the need to cross the city, the park has also existing connections on site for electricity (220V/380V), gas, water supply, sewage system and acces to E573. The future Iasi – Tirgu Mures highway will also have a perfect connection to the logistic park, with is path directly in front of the facility.

Which are the region’s and your current strenghts?

It is true that, currently, many production companies or logistic operators are investing and developing in the Western part of Romania, but we are convinced that the future areas to invest will be Iasi and Eastern Romania due to a higher availabillit y of work force and lower wages, aproximately 15-25%. Taking in consideration that Iasi is the largest cit y in the North – East Area and adding the potential of the proximit y with Ukraine and Republic of Moldova, we are sure that investments in logistics and the need of warehouses will rise exponentially in the coming years. Our focus in having sustainable partnerships with investors in Iasi, combined with the experience of the group in developing warehouses and office spaces (in a time frame bet ween 4 and 6 months), can be additional arguments for companies to trust that they can focus on their business and operations, while we develop the build to suit spaces for them.

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CSi ROMANIA MANUFACTURES “THE FUTURE” OF LOGISTIC SYSTEMS For 12 years, CSi Romania, part of an international group with Dutch capital, has produced mechanical and robotic logistic systems for major international and local customers. In 2016, the company’s business increased spectacularly compared to the previous year, from 18.7 million euros to 30 million euros, in a good market context. Moreover, for the current year, the Managing Director of CSi Romania, Sorin Nuţiu, estimates another increase of 20%.

CSi Romania has had a spectacular revenue increase in 2016. What elements of the market are supporting that?

The handling and palletising equipment and systems produced by CSi have proved their usefulness, efficiency and reliability all over the world. We are continuously innovating and improving our business, offering fully integrated systems and our dedicated solutions aim to ensure a long and agreeable partnership with our customers. This philosophy proved very fruitful in 2016, too, the year in which the volume of equipment demanded by our long-term customers increased very much. CSi Romania, which represents the group’s production center, managed to be flexible enough and to deliver a higher volume of equipment, leading to an increase by approx. 50% of the turnover, 96

compared to the previous year. A few new projects from North America have had an important contribution besides those in Europe.

What are your expectations for 2017?

2017 shows no major differences from the point of view of the market demand. Our partnership with major companies producing consumer goods, with distributors or customers from the packaging industry will continue, and we will be launching new or improved equipment and systems this year as well. We have many new projects in Europe and South-East Asia, and we will continue the projects we started in North and South America last year, as those markets are still developing. Also, we are more and more present on the Chinese market. The latest estimates confirm the

fact that this year will bring a further increase of up to 20% compared to 2016.

Can you explain the market in which you work and the basic products of CSi and briefly list some of your major customers?

Our equipment and solutions are aimed especially at companies producing consumer goods and at customers in the packaging industry. Our integrated systems ensure the intelligent and efficient handling of products so that our customers can manage to improve their internal logistical processes. A new production facility, the expansion or modernization of older and less automatized production lines are always opportunities for CSi, by which we can guarantee our customers improved performances, whether we are talking WWW.TRANSILVANIABUSINESS.RO

INDUSTRIAL about P&G, Pepsico, Nestle, Modelez, Mars or Ontex, JTI, Tetra Pak and Reckitt Benckiser. CSi offers a full range of mechanical and robotic palletising solutions combined with case and pallet conveying, controls and software and also state-of-the-art technology and robot integration for cardboard blanks handling. Examples of robotic palletisers are the Smart-Pal and i-PAL while for layer palletisers the Taros or C-5000.

CSi has expanded with a production facility in Reghin, Mures County. Why did you take this step?

The spectacular growth of the past year confirmed the validity of our decision to open an additional production unit, the supplementary volume being partially absorbed by the new location. We wanted a location close to the headquarters in Cluj-Napoca, with a reasonable road connection and in a town with a tradition in mechanical processing. At the same time, the decision was also based on our good cooperation with a local partner. At this moment we perform laser cutting operations, machining, ironworks, welding. The investments in the equipment will soon reach 1 million euros. At present we have 48 employees in Reghin, and the plan is to expand up to 100 employees by 2018. The company’s production standards and conditions will be similar to those in all the locations of the group.

How do you counteract the effects of lack of manpower?

The labour market is becoming ever more competitive, and we are confronted with fewer available qualified staff. The disappearance of the former vocational schools has limited the opportunities for young people to learn trades such as

those of welder, locksmith-mechanic, turner, etc. We tried in the past to fill this vacuum by organizing internal training sessions, many of our employees learning a profession alongside their more experienced colleagues. About 3 years ago, we started collaborating with a technological high school in ClujNapoca, from which this year we hired the first colleagues who have completed their studies, and with which we will continue to support students in the dual education system. This year we started a partnership with a technological high school in Reghin and we are optimistic that we will be able to ensure the training of young people in the required trades.

At the same time, for many years we have had a partnership with the Technical University of Cluj-Napoca, with which we have implemented several projects, while others are in progress. Every year the alumni of the university can join our teams of engineering, design, manufacturing and logistics.

What are the projects for the future of CSi Romania?

CSi Romania is and will remain the production centre of the CSi group.

Currently we have about 370 employees in Romania and we are continuing to grow. The management team in Romania is exclusively Romanian, our colleagues taking the lead role in opening and ensuring the functionality of the foreign subsidiaries, under the direct coordination of the COO of the CSi Group, Mr. Kees Oosting.

Besides the expansions that will continue in the coming years, we have ambitious plans of manufacturing equipment that is more efficient and environmentally friendly. The volumes produced in Romania will continue to

grow and the increase in efficiency and optimization of the internal logistical flow (at present we already have 2 locations) will be permanent goals in our plans. The development and growth of the design and engineering team will continue, the team from Romania actively participating in the design and optimization of all the group’s projects. CSi Romania owns two daughter companies in Romania, AlphaLas, our project management company, which mainly deals with third-party customers and, as of this year, CSi PAC International (Palletising Application Center), our central unit for the coordination of the activities in the assembly centers for modular palletizing equipment, both in Romania and in our subsidiaries from China and Mexico.

What about the business model of CSi on a global scale?

CSi group supplies fully integrated material handling systems and has installations throughout the world.

As a turnkey supplier CSi provides a complete package from initial consultancy and design, to production, assembly, delivery, installation and commissioning. We are a leader in robotic and mechanical infeed layer case palletising solutions for the FMCG and through CSi Packaging unit we aim to become a product leader in the packaging materials industry as well.

CSi group employs a total of some 600 people and in 2016 achieved a turnover around 80 million euros.

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we entered into the contracts with Tetarom, but we have not been able yet to select a quality contractor company who can build according to our standards within the budget, but the project is going ahead for sure. The reason is that we need and want more office space as well as warehouse facilities, not only for the current operations but also for future expansion. The project would further enhance our reputation, would be beneficial for the work environment of our employees, would enable further growth and would confirm our corporate identity. We are planning to build additional 1,500 sqm warehouse space and 1,000 sqm office space.

ES ELEKTRO A TRUSTED GUIDE THROUGH INDUSTRY 4.0 REVOLUTION ES Elektro Romania, part of the international ITSME Group, had a consistent 2016, with total revenues beyond 10 mil. euros. The company is planning to build a new warehouse in Tetarom Industrial Park, and is focussed to help industrial clients, supplying electrical and mechanical products and consultancy services in automation, logistic processes and lighting technology.

Rolf de Graaf, General Manager of ES Elektro, talks about future strategies.

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ow was 2016 for the company and what are your expectations for 2017?

Figures start meaning something if you compare your data with the overall trend in the market you are active in and/or if you compare them against your forecasts/budget. ES Elektro Romania is part of a group of international companies under the name ITSME (Industrial Technology Supply Electrical and Mechanical), and in that respect the overall group results are more important than for instance the ES Elektro Romania results. To give at least some sort of indication, the group results were ok and the Romania results were 100

outperforming the group results!

For 2017 we expect the same trend.

Besides the figures and results, 2016 and also 2017 have been challenging years in the sense of improving our processes, increasing our knowledge and service levels, integrating our mechanical companies with the electrical ones and finding new staff.

ES Elektro Romania decided to expand in Tetarom Industrial Park, tell us about the forecast for this project.

We have decided already more than a year ago that we are going to expand our operations to Tetarom. Of course,

What are the plans of the company in terms of national expansion?

Further expansion on the Romanian market is paramount. It is our main focus point. Being closer to our clients who are spread all over the country and to be able to introduce our services to our industrial clients by means of more personal contact between them and our consultants is our main goal. And I am not only talking about our electro-technical sales staff but also about our industrial automation engineers, industrial lighting and connected business (logistic) consultants. We are not seeking to open physical offices, but serving regional areas with our people from flexible offices. As we do now already in Craiova and Bucharest, and also Timisoara, albeit that we do have there a physical office. All supporting services, finance, purchase, logistic services etc will be done from our headquarters in Cluj-Napoca. The main challenge is to attract the right people. We are conducting our sales in a non-traditional manner; our people would and should be real client consultants and that requires specific skills, capabilities and knowledge. If you can find these people – they can start ´tomorrow’ in one of the eight regions we have earmarked.

Can we name your biggest clients right now and how ES Elektro is improving their business?

For me, at least part of the definition of the biggest clients WWW.TRANSILVANIABUSINESS.RO

INDUSTRIAL ES Elektro Romania ES Elektro Romania was incorporated in the third quarter of 2008 and became operational in the course of 2009 on the Romanian market. Active in the supply of electro technical components and services to “Industry” we cover the whole of Romania from our head office in Cluj-Napoca. 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.

In addition to our electro technical supply services in Romania the group covers Belgium, Germany and The Netherlands, the home country of the itsme group. In The Netherlands, ES Elektro is market leader in the market segment of industrial end users and equipment manufacturers. Due to the close co-operation with itsme we are able to offer our experience and practical understanding of electrical engineering and logistics in Romania.

ES 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.

is their potential. And even the word potential you can interpret in different ways. You could, of course, just look at volume, or potential, in revenue. You could also just look at the need, requirement or wish of a client to improve, or solve a problem that exists, in one of the fields where we have expertise. Again, that is Industrial Automation, for instance, we do trainings but also consultancy and engineering projects, Connected Business (all sort of solutions to improve availability and to reduce costs) in the field of logistic solutions and lighting technology (energy efficiency, costs reduction, better and safer work places etc). So, basically in order to satisfy their needs, you first have to sit together with the client to investigate what those needs are or could be, and if we have a solution for that. That is genuine consultancy and that is what benefits the client most.

All our clients are industrial clients, varying from industrial end-user, machine builders (OEM), panel and

cabinet builders to system integrators, rest assured, they are some of the leading companies in for instance the food & beverage, automotive and marine industry.

How is the future of ES Elektro looking in terms of the new technology era upcoming?

“We are the dead. Our only true life is in the future”- a beautiful quote form George Orwell (1984). This could very well be the fate of companies such as ours – active in the field of distribution. It is clear that the traditional wholesaler’s life span is limited, very limited. Thankfully, we are not a traditional wholesaler (with our services and consultancy orientated approach). Nevertheless, it is clear that the (industrial) world is changing in a rapid speed. The new industrial revolution 4.0 has already started, the Internet of Things will have a huge impact on not only the production process but also on the supply chain. As ES Elektro Romania we are, within the framework of our group company ITSME, in the middle of looking for opportunities to find our place in this new landscape. The most challenging and interesting issue is that nobody knows how this ‘revolution’ is going to work out. But that it will happen and will have a major impact is without doubt. Our strategy is not yet defined and even once defined it will be under constant development and be dynamic instead of static. But we already also know that there will be always a place for a reliable, knowledgeable and trusted

partner in the supply chain. We certainly want to remain being that, and improving on that, whilst at the same time developing new services and products that may be useful for our clients in the future. Further integration of IT services with mechatronics could be one of these focus points. We are open to, and as a matter of fact we are in the starting phase, of looking for partners on the Romanian market to further develop these thoughts in new start-ups.

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INDUSTRIAL At present, the Science and Technology Park TETAPOLIS is legally represented by the joint venture between TETAROM SA, the City of ClujNapoca and the Technical University of Cluj-Napoca and we are focusing on three different target groups: 4 Start-up/spin-off companies 4 Mature companies based on the technological development through applied research 4 Joint-Ventures At this point the Park’s line of specialization is defined by the competences developed in the Technical University of Cluj-Napoca, but in the near future we want to integrate the majors areas of study from USAMV, UBB, or UMF.

considered it normal in this context, to rebrand Tetarom. Today, Tetarom has a beautiful image that reflects the brand we have created.

Tetarom SA reinvents itself after 15 years

FROM INDUSTRIAL PARKS TO SCIENCE PARKS Tetarom Industrial parks cover approximately 200 ha and have close to 100 customers. They have attracted investments of over 600 million euros from resident customers. The number of newly created jobs exceeds 11,000. Next step: TETAPOLIS – a science and technology park. Details about the development model of Tetarom/TETAPOLIS are explained by Octavian Fodor, Deputy General Manager of the organization.

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ou are a young Deputy General Manager in one of the most representative companies for Cluj, Tetarom SA. How did you find the company? How did you feel when you were offered this position?

I’ve only been in this company for 5 years.

But I have worked with Tetarom since 2004, also with Nokia and Emerson. I knew about Tetarom, about the scale of this company, about its achievements and, obviously, when such a position is offered to you, you can’t help but think that accepting the offer is an honor and also a great responsibility. I found here an extraordinary, experienced, close-knit

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team, led by Mr. Viorel Găvrea, a man I respect and appreciate for what he has managed to do for the company and for Cluj in general, and from whom I have learned a lot. I was well received and that has made my mission easier!

What were your initial personal goals and how far have you got in accomplishing them?

I aimed to contribute to the development of this structure, to attract new investments, to ensure employment growth, to create a new image, and to reinvent Tetarom, because we had just celebrated 15 years of existence. I

Where is Tetarom SA today, what level of occupancy do Tetarom Industrial Parks have at present?

When I joined Tetarom, Industrial Parks Tetarom I and II were fully occupied, and Tetarom III had an occupancy of 30%. Today, Tetarom I is expanding with another four buildings. The construction works have been completed. Tetarom III is occupied over 95%, and Tetarom IV is about to be completed. One, two or even more industrial parks would still be needed in Cluj County.

Currently, Tetarom Industrial Parks stretch on approx. 200 ha and have close to 100 customers. They have attracted investments of over 600 million euros from resident customers. The number of newly created jobs exceeds 11.000.

It’s no small feat, over the course of 15 years, and not many can boast such achievements. But we won’t stop here and we’ll continue to grow with our new project, TETAPOLIS, our first science and technology park.

Tell us a little bit about TETAPOLIS. What is it, how did it start, how is it organized?

This project is, perhaps, the closest to my heart, for I was one of its initiators, together with Mr. Găvrea, and I can only rejoice that it is developing successfully.

TETAPOLIS Science ans Technology Park started in 2013, in collaboration with IASP (International Association of Science and Technology Parks), and represents an area of strong innovation for the activities of education and research, as well as for the technological transfer of research results WWW.TRANSILVANIABUSINESS.RO

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and their valorization through economic activities. TETAPOLIS was set up in order to use the results of research activities and apply advanced technologies in order to increase the participation of higher education institutions and structures of innovative research in the process of economic and social development through research and the development of innovative products and services.

How far advanced is the project?

Up until this point, we have managed to incubate the first company in Romania that is specialized in the production of robots programmed with artificial intelligence, a company that is currently fully operational following an investment of little over half a million euros. In April this year, it began to deliver the first orders of robots manufactured entirely in Romania.

Also in April 2017, TETAPOLIS STP incubated the first car sharing company in Romania, which has 80 vehicles that can be used by the residents of ClujNapoca. We have also completed the incubation process of the first company of telemedicine in Cluj-Napoca. The platform is fully operational and hosted on the TETAPOLIS data center. In the first phase, the telemedicine service makes specialist medical services available to the residents of ClujNapoca. These include audio-video examinations of the patient and the issuing of prescriptions in the network of partner pharmacies. By the end of the year, it will put on the market an IoT device capable of drafting a preliminary clinical chart of the

patient, by collecting various medical parameters and transmitting them via an application to the call center. A second telemedicine program, this time focused exclusively on the diagnosis and treatment of epilepsy is being developed in the Science and Technology Park TETAPOLIS. The program is developed at the national level and is the first of its kind in Romania. Since mid-2017, following the development of its own incubation structures, TETAPOLIS has hosted the first spin-off of a company that operates in the field of printing human organs. In this way we hope to lay the foundations of a centre of innovative research in advanced medicine here in Cluj. In 2017 we have incubated the first online platform for digital democracy. The company Digital Democracy is going to launch a mobile app that will give the people of Cluj the opportunity to solve problems related to the local community, in real time, thus inviting the citizens, the companies, the public administration and the NGOs to become actively involved.

Also, TETAPOLIS assumed the role of a strategic partner in the organization of a series of events relevant to the identification and selection of innovative ideas and solutions which may subsequently be incubated in the Science and Technology Park. Among them we could mention the TechFest festival of technology, the TEDx series of conferences, the Open Innovation Days conference, during which we launched the TETAPOLIS Digital Incubator, where all these companies mentioned above will be incubated. TETAPOLIS has also developed the first course of entrepreneurship and innovation in Romania. TETAPOLIS has signed a partnership agreement with the American Councils for Education, aimed at creating and sustaining a corridor of innovation between Romania and the USA. It is the first such partnership in Romania. All these events in which TETAPOLIS has been a partner have made an impact, have brought visibility and awareness for our project and for the city in general, and this has led many to consider Cluj a City of Innovation.

Now that industrial parks are occupied almost entirely, and TETAPOLIS is already very successful, what are your plans for the future?

There is so much more to be done in the industrial parks and in TETAPOLIS. First of all we will focus on the full occupation of Tetarom III and the spaces created through the expansion of Tetarom I, the completion of Tetarom IV and the accelerated development of the Science Park TETAPOLIS. To that end, this autumn we will launch in the TETAPOLIS Academy the first course/ training for specialists in cyber security from Romania.

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INVEST IN BARLAD - INDUSTRIAL & COMMERCIAL PLATFORM T

he trend of relocating production facility in CEE/SEE accelerated in the last years is becoming even more visible also in Romania. Moreover, the major Romanian companies are going through a period of expansion, being constantly on the lookout for new locations and available workforce, which is still accessible in the country’s north-eastern area. Barlad, the second largest and most economically thriving town in Vaslui County (North – East Romania), has all the advantages needed for developing your business. Nova Metatex, owner of brown field assets, proposes large spaces, suitable for investments in production units, in storage space or in the creation of commercial areas on the industrialcommercial platform located in the town of Barlad, Vaslui County, Romania.

Transport & access Barlad is connected to the European road network along the NE – SW direction via E581, a component of the Pan-European Corridor IX. The number of new access roads will increase with the construction of the 11.3 km long ringroad around the Municipality of Barlad, a project with secured financing, where technical documentations are prepared for the start of construction works. The second option is the 600 railway mainline Faurei – Ungheni, which crosses the town of Barlad.

Access is also possible through the nearest airports: Bacau “George Enescu” International Airport (at a distance of 98 km) and Iasi International Airport 104

(at a distance of 118 km). The program of Investment in Road Infrastructure developed by the Government of Romania provides for two objectives that will have an impact on the Municipality of Barlad: 1. the construction of the Iasi – Ungheni – Targu Mures Highway; 2. the construction of the Galati – Tecuci – Barlad – Vaslui Express Road.

The industrial - commercial platform The assets have access to Captain Grigore Ignat St., situated 200 m away from the intersection with E581, which ensures easy access for the supply of cargo from the ports of Constanta, Galati and Braila, and for the distribution of merchandise in the European region. In close proximity to the industrial-commercial platform there are two international airports: Bacău “George Enescu” International Airport (distance - 98 km) and Iași International Airport (distance - 118 km), which have planned investments in the development of the cargo area. The industrial-commercial platform covers an area of 136,000 sqm.

Inside the property, on approximately 50,000 sqm land, there are office buildings and former industrial buildings. Additional 92,129 sqm of land are available for future developments.

The built area consists of two ensembles of buildings in which there used to be a linen factory and a factory of abrasive stones. The built area also includes production halls and offices. Ensemble I

consists of: industrial hall no. 1 (19,132 sqm) and no. 2 (8,241 sqm); office building no. 1: G+1F (1,254 sqm) and no. 2: G+1F (574 sqm); production hall no. 1 G+1F (2,256 sqm). Ensemble II consists of: industrial hall no. 3 (5,808 sqm); production hall no. 2 (1,815 sqm); industrial hall no. 4 G+1F (with 5,040 sqm on each level - the hall being fitted with an elevator that has a capacity of 4 tonnes); production hall no. 3 (1,080 sqm) and office building no. 4 G+1F (2,300 sqm). The assets have: access routes with the maximum load permissible on public roads; fire protection systems; sewer and stormwater drainage.

Other advantages • Control and border crossing point Albita (Romania)/Leuseni (Moldova) - road traffic (distance of 87 km).

• Very good Internet connection.

• Well-developed mobile networks in the GSM systems.

• The existence of branches and representative offices of various international banks.

• Extensive facilities of maritime access (distance Barlad – the Port of Constanta - 289 km) and inland navigation (distances: Port of Galati – 101 km; Port of Braila – 122 km).

• Contact SC NOVA METATEX SRL: novametatexbc@yahoo.com; phone: + 40 740 118 102 WWW.TRANSILVANIABUSINESS.RO

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CAMPIA TURZII INDUSTRIAL PARK - EXPANSION PLANS O

ne of the newest industrial parks in Transylvania, Campia Turzii Industrial Park, already leased four of the five plots of land it owns. The last available land plot is currently up for bidding and will be occupied by the end of 2017. Three companies have decided to invest in the new park: S.C. Berg Banat S.R.L. Timisoara, which has leased two plots of land with a total of 29,100 sqm, S.C. Marco Plast S.R.L. Campia Turzii (with a plot of 6,900 sqm and S.C. Sosim Trans SRL Cluj Napoca (6,600 sqm of land). “From the moment I took over the management of the Campia Turzii Industrial Park, we have managed to bring in investors both from Cluj County and from other areas of the country. Due to the positioning of our town, as Campia Turzii is a road and rail transport hub, situated by E60 and the Transylvania Motorway, and also due to the industrial tradition of this area, there are companies that are willing to invest here. We believe that it will be necessary to expand the park. That is why, together with the local authorities, the Town Hall and the Local Council Campia Turzii,

Fiscal advantages • exemption from payment of taxes on buildings and land, in the form of the de minimis scheme under the Tax Code • facilities which only benefit the companies that carry out economic activities within the perimeter of the industrial park • facilities granted by the Local Council of the Municipality of Campia Turzii.

we began taking the necessary steps”, General Director, Remus Matei explains.

The expansion plans envisage an area of 57,000 sqm of land situated in the vicinity of the present park. Campia Turzii Industrial Park is situated 45 km away from the Cluj Avram Iancu International Airport and 65 km away from the Transilvania International Airport in Targu Mures (currently closed for modernization). Car and pedestrian access are possible from road DN15/E60. At a distance of 2 km, there is access to the future Brasov – Oradea highway. At a distance of 1 km, there is the railway road Bucharest - Oradea, with a station in Campia Turzii.

Rates of operating and administering the Industrial Park The management fee is 0.018 euro/ sqm/month, from which the provision of the following services will be ensured: the administration and management of the Industrial Park: street lighting; the maintenance of the common road infrastructure; the maintenance of the street and common green spaces, the rainwater gullies; the maintenance of the common utility networks of the industrial park up to the edge of the properties (water, electric power).

Additional information relating Parc Industrial Campia Turzii can be obtained at the company’s headquarters at 2-4 Laminoristilor St., Campia Turzii, General Manager Remus Matei, +40 757 675 519; www. parcindustrialcampiaturzii.ro.

Infrastructure - utilities available at the property • inside road network - access to land plots • network of low voltage electricity, 380 V • network of medium voltage electricity • street lighting • network of medium pressure natural gas • sewage and rainwater network • drinking water supply network • telephone and internet networks • P.U.Z. regulator at the request of the town planning certificate

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INDUSTRIAL

ARTEMIS DEVELOPS AN INDUSTRIAL CLUSTER IN WESTERN ROMANIA Artemis Real Estate is the Romanian subsidiary of the Swiss group Artemis Holding AG. The company owns over 170 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. A new warehouse was inaugurated in Sanandrei this year.

Artemis Real Estate inaugurated in June 2017 the first warehouse (4,000 sqm, including office space) in Sanandrei Industrial Park and celebrated with clients and partners the finalizing of infrastructure network in the park. The first build asset is already fully leased.

Located in Sanandrei commune, in Timis County, Sanandrei Industrial Park is only 7 km away from the center of Timisoara city, at the junction with the future Express Adriana Cioca, M.A, MBA Development Manager Artemis Group Romania

highway that will directly connect Romania and Western Europe. The industrial park, reflecting high Swiss standards, also is developed according to Romanian regulations.

The objective of Artemis is to create an industrial cluster in the area, by attracting and selecting more companies which will be active here, having the advantages of all facilities and know – how offered by Artemis in the new industrial park created, but also through an economic and social contribution, by creating new jobs for the population of the area. „The investment started in 2008, by acquiring thousands of hectars, amending them through a Master Plan and Urban Plan for the area, meantime, all approved, by obtaining the Industrial Title Certification from the Ministry of Development. In this regard, the City Hall supported us very much, with the confirmation of the legal framework, which will ensure the tenants exemptions of taxes, but they can benefit also from European Funds and state aids. At this moment, Sanandrei Industrial Park offers all the necessary utilities and connections, also services for security and facility management“, states Adriana Cioca, Development Manager of Artemis

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Group Romania.The company is planning the second stage for the extension of Sanandrei Industrial Park. All new assets will be builtto-suit projects, based on the future tenants needs and specifications.

Entire board of Artemis Holding was present at the opening of the first building along with the Ambassador of the Swiss Confederation in Romania - E.S. Urs Herren and local officials.

The Swiss group Artemis Holding owns also Franke Group, Real Estate Group, Feintool Group and shared participations in different companies, among the most important: Forbo, Rieter, Autoneum, AdvalTech, Novelteak. Artemis is also co-owner in Banat Business Park, located in Sananadrei. Artemis Real Estate is active in the real estate market in Romania since 2007, with investments in more than 170 ha of land in Western Romania, having the objective to develop industrial projects.

More information: Adriana Cioca, M.A, MBA Development Manager Artemis Group Romania www.artemisrealestate.ro WWW.TRANSILVANIABUSINESS.RO

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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 23 Hermann Oberth Street 507075 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 build-to-suit facilities for long-term rent, destined for production activities, storage and offices. The halls are executed in full accordance with the specific requirements of each customer. The total area is 39 hectares. We developed the entire road infrastructure and utility networks. On a build-up area of 103,000 sqm (100% occupancy rate) our customers created more than 4,000 new jobs. The park is situated at 7 km from Brasov, a city with excellent development potential. We offer fully serviced business sites for medium and large-sized companies.

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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TRC Parks is a major national logistical and industrial project currently developed in 3 locations in Romania: Cluj-Napoca, Bacau and Calan (Deva), offering smart, efficient and sustainable solutions adapted to the needs of our clients, alongside excellent property management. The developer, Transilvania Constructii, is a real estate investment and development company with expertise in industrial, logistics and office real estate. Over the years, the company acquired significant knowledge and know-how in the industry, positioning us in the Top 5 Industrial Developers in Romania, aiming to become a national and regional player in the industrial real estate sector.

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.

TRC Parks by Transilvania Constructii 47 Taietura Turcului street, 400221 Cluj-Napoca, Cluj County Bolog Alexandru Head 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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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.

Sema Parc industrial park is situated in the central-western part of Bucharest, on the former Semanatoarea platform, at 3.5 km distance from A1 | Bucharest-Pitesti highway. The 16 ha park offers all the facilities necessary for our tenants to carry out the commercial, office, logistics and production activities: inner access roads with a total length of 2,500 m, exterior lighting, utility networks (electricity, water, sewage and gas), parking spaces, additional services (security, cleaning, fire prevention, snow removal, etc.), restaurants, food vans, sport clubs (climbing, dance, squash, billiards), ATMs and green areas for relaxation.

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

Sema Parc Logistics 319 Splaiul Independenţei, O.B.5, ground floor, 060044, Bucharest 6, Romania Tel.: +40 (21) 313 20 94 office@semaparc.ro Tina VIRLAN Leasing Manager tina.virlan@semaparc.ro www.semaparc.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 193 Stefan cel Mare Street, 1st floor, Sibiu Cristian Soima 40 735 553 624 office@zacaria.ro www.zacaria­industrial­parks.ro

WDP 1 Baia de Arama Street, 1st floor - 2 District, Bucharest 022204 T +40 31 2257 116 Valentin Staciulescu: +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, part of the international group Alf Mizzi & Sons, founded in Malta over 100 years ago, has been providing turnkey industrial buildings in Romania since 2009. Currently, the company owns 10 industrial parks in six cities: Sibiu, Alba Iulia, Arad, Oradea, Craiova and Cisnadie, with more than 300,000 m2 of surface area and continues to develop its industrial projects portfolio by purchasing land and warehouses in a wide range of locations throughout the country. Currently, the developer focuses on build-to-suit industrial projects that provide tailored solutions to meet each client’s needs, strategic locations and outstanding quality standards, with units ranging from 400 m2 to more than 30.000 m2.

WDP develops and invests in logistics property (warehouses and offices). WDP’s property portfolio amounts to more than 3.5 million m². This international portfolio of semi-industrial and logistics buildings is spread over more than 160 sites at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg and Romania. More information about WDP can be found at www.wdp.eu.

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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 4.1 million m² of A-Class properties in over 80 strategic locations. In Romania, CTP is the leading warehouse developer and manager, with a GLA of 615,000 m² of Class A warehouses at in 8 locations across the country: Arad, Bucharest, Cluj-Napoca, Deva, Pitești, Sibiu, Timisoara and Turda.

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 185 high-quality warehouses totalling 3.9 million m2 across nine countries and a land bank with zoning for 1.8 million m2 of potential development. P3 is a long term investor, which acquires and develops high-quality properties to ad to an expanding portfolio.

P3 has never sold any warehouse. P3’s mission is to provide warehouse customers with a first rate occupancy experience in high quality assets in key logistics locations.

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

CTParks CTP Romania DE 287/1 Str., 077096 Commune Dragomiresti Vale A1, Romania Tel: +40 311 051 555 E-mail: info@ctp.eu www.ctpark.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 Logistic Parks Emilia Bocan Senior Leasing & Development Manager Tel: +40 724 890 824 E-mail: emilia.bocan@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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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.

WWW.TRANSILVANIABUSINESS.RO

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Timpuri Noi Square/ Project by VASTINT 165 Splaiul Unirii, District 3, Bucharest, Romania T: +40 21 321 40 07 info.romania@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 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 in Bucharest.

The LEED Gold certified business park is linked to AFI Cotroceni Shopping Mall of 90,000 sqm GLA, becoming an all in one (Offices, Shopping Mall, Entertainment) efficient location and 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 Brasov’s ultra City Center location. The office project will be developed on top and integrated into AFI Brasov Shopping Mall of 45,000 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, BPO’s and Banking sectors. The complex will hold a LEED GOLD Certification for Green Building.

AFI Tech Park Business Campus is a 50,000 sqm GLA Class A Business Park, currently under development 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 each and a 14 floor office tower, all surrounded with ample green areas, offering an IT&C / Campus style environment and being an alternative to outskirts office locations. The Park benefits from excellent accessibility and visibility and is served by retail facilities and public transportation

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Explore the magic world of colours! www.caparol.ro 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.

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 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. 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

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

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myhive Metroffice Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

Iride Business Park Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

myhive S-Park Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

Pipera I Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

Victoria Park Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

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myhive Metroffice 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. myhive Metroffice stands for friendly and lively atmosphere combined with optimal infrastructure and services.

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.

myhive 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. myhive S-Park office building offers a wide range of services, excellent infrastructure and space for communicative and lively interaction between the tenants.

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, Bucharest’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 Bucharest’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.

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.

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 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.

Zone 313 is a new project in the construction of a 10,000 sq. m office building, located at 313 – 315 Barbu Vacarescu Street, 2nd District scheduled to be delivered for rent and part for sale in the first quarter of 2019. Ideally situated in the mid – north of town, right in the center of the main office aria of Bucharest near Promenada Shopping Center , having a perfect accessibility and excellent connection to public transportation, “Zone 313” is developed by GD TOTAL SERVICE.

Bucharest Corporate Center Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

Global Business Center Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

North Center Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

Baneasa Airport Tower Bucharest, Romania A property of IMMOFINANZ Contact us to find out availability and for further information: leasing_office_RO@immofinanz.com +40 31 405 1702

Zone 313 GD TOTAL SERVICE SRL 313-315 Barbu Vacarescu Street, Building B, 1-st Floor, Sector 2, Bucharest, Romania M: +40744 605 357 Email: office@zone313.ro www.zone313.ro

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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

THE MARK 84-98 Calea Grivitei, 010735, District 1, Bucharest Phone: +40 (0)21 780 71-67 Fax: +40 (0)21 780 71-69 office@simmoag.ro

Sun Offices 391 Calea Vacaresti, 040069, District 4, Bucharest Phone: +40 (0)21 780 71-67 Fax: +40 (0)21 780 71-69 office@simmoag.ro

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Plaza Romania Offices is the latest addition to the Anchor Grup portfolio and resulted from the first conversion of a retail space into an office one made by the international company. With a leasable area of over 10.000 square meters and high efficiency in space utilization, Plaza Romania Offices is the ideal office building for companies that want to offer a significant and diversified amount of benefits to their employees. Among these are numerous stores, many parking spaces, a large variety of restaurants and coffee shops, Movieplex Cinema (11 screens), World Class fitness center, and a beauty salon.

Located nearby Plaza Romania, Anchor Plaza Metropol has all the advantages provided by the shopping center. Its generous GLA, which amounts to 35.000 square meters, demonstrates that this office building can accommodate corporations or other large tenants.

The large floor plate of 3.450 square meters allows maximum space utilization together with space flexibility and technical requirements according to the different needs based on type of activity.

Anchor Plaza is the first A class office building in Bucharest integrated within a retail scheme. It provides functional and architectural features such as an attractive entrance and flexible partitioning options. Anchor Plaza means, in figures, 25.000 square meters of leasable area on 13 floors, 255 indoor and outdoor parking spaces, 24/7 access control and security monitoring system. The building is endowed with 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, Anchor Plaza is very easy to access.

Ideally located, very close to Victoriei Square, THE MARK is the first significant class A office building being developed in Bucharest CBD in the past ten years.

With a total built area of 43,000 m2 and circa 25,500 m2 GLA, THE MARK comprises two class A+ office buildings – a 14 storey tower and a 6 level podium-building – and will benefit of a generous parking area with 345 car seats, as well as bicycle racks and electrical vehicle charging stations. The construction works started in July 2016 and will be completed in the second quarter of 2018.

Located right on top of Sun Plaza, one of the largest shopping centers in Bucharest, SUN OFFICES are the best office premises in the southern part of Bucharest. The building provides approximately 10,000 m2 high class office space displayed on 3 levels, with high technical specifications. Keeping business flexible, innovative and competitive is vital for most companies, so partitioning office spaces in ranges from 450 m2 to 3,200 m2 on a single floor offers excellent solutions for any activity type.

The building is situated in one of the most dynamic neighbourhoods in Bucharest and benefits of excellent connections to all key areas in the city, being home to notorious tenants such as Pepsi or Regina Maria.

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Equilibrium 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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Skanska began the construction of the first phase of Equilibrium office project located in the northern part of Bucharest, in the Barbu Vacarescu - Floreasca area. The first building will comprise of 20.800 sq. m GLA and has an estimated delivery time in Q2 2019.

Upon completion, the entire two-building complex will offer 40.700 sq. m Skanska commenced also the development of Campus 6, the office project located in the Central-West area of Bucharest, in the proximity of University Politehnica of Bucharest. The company invests EUR 37.8M in the first building of Campus 6, a project that has a total leasable area of 82,000 sqm, and the office project consists of four A class buildings.

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

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

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

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.

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.

In light of the urban needs, ATENOR has reckoned on the construction of competitive buildings in terms of the planning, location and techniques implemented. Hermes Business Campus (3 phase development with approximately 72,000 m2 above ground) was awarded BREEAM ‚Excellent’ environmental certification.

Characterized by the size and flexibility of their office floors on the one hand, and their technical quality on the other hand, the buildings allow a high level of concentration and a high efficiency. The project was and will remain sustainable and ideal to meet the local demand of national and international companies.

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.

“Gara Herastrau” is a modern Class “A” multi-tenanted 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 metres away from Globalworth Tower. The Gara Herastrau office property was constructed on a land plot acquired in December 2014 and subsequently developed by Globalworth. The property was delivered in 2016 and received BREEAM Excellent certification in the same year. Layoutt: 3 UG+GF+11F+Tech F. GBA: 12,089 sq m.

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.

Following the acquisition of Building „C”, Globalworth becomes the sole owner of the Green Court Bucharest complex, developed

by Skanska, one of the world’s leading project development and construction groups. The complex, located in the North of Bucharest, in the Barbu Vacarescu - Floreasca area, comprises three class „A” office buildings, all of which have been LEED Gold certified and offers a total gross leasable area of 54.300 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.

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 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 Văcărescu 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 Office CMYK: 0 12 100 0 RGB: #FFDA00

CMYK: 0 0 0 90 RGB: #1A1A1A

319 Splaiul Independenţei, O.B.5, 1st floor, 060044, Bucharest 6, Romania Tel.: +40 (21) 313 20 94 office@semaoffice.ro Tina VIRLAN Leasing Manager tina.virlan@semaparc.ro www.semaoffice.ro

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 Office, the business park within Sema City, located central west of Bucharest, provides Class A office buildings with immediate access to Petrache Poenaru metro station (30 seconds). The first two office buildings were successfully leased and sold to Europolis in 2006. The 2nd phase includes three new buildings, Bruxelles (delivered), Paris and Berlin (under construction) - due to be delivered by year-end 2017, all providing 31,960 sq m GLA of offices, with floor plates between 2,400-6,700 sq m, suitable for IT, BPO, Call Center, automotive, banking, professional services and pharma companies.

Sema City CMYK: 0 12 100 0 RGB: #FFDA00

CMYK: 0 0 0 90 RGB: #1A1A1A

319 Splaiul Independenţei, O.B.5, 1st floor, 060044, Bucharest 6, Romania Tel.: +40 (21) 313 20 94 office@semacity.ro Tina VIRLAN Leasing Manager tina.virlan@semaparc.ro www.semacity.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

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Sema City is the largest urban conversion project of a former Semanatoarea industrial area, a development of 964,800 sq m total built area, on a large land plot in the central-western part of Bucharest, near Regie Student Campus. It is a mixed-use scheme, including a business park with class A office buildings (526,800 sq m), retail (93,500 sq m) and residential (305,200 sq m).

The concept behind this project is „city-in-city”, offering all the amenities of a complete city, having all the facilities nearby.

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.

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RECORD Offices & Residential A development of Speedwell 20A Onisifor Ghibu, Cluj-Napoca Leasing: +40 (0) 721.711.634 office@record-park.ro Sales: +40 (0) 733.927.237 residential@record-park.ro www.speedwell.be

Unirii View Brought to you by Speedwell & Griffes 6-8 Corneliu Coposu Boulevard, District 3, 030606, Bucharest, Romania E-mail: office@uniriiview.ro Phone: +40 (0) 721 711 634 www.uniriiview.ro

Ethos House

Unirii View is the tallest and greenest new commercial development in Unirii Square, recognized as “Km 0” of Bucharest in terms of transportation links and connections towards all city districts.

The 17,500 m2 GLA class A office tower comprises 17 upper floors, a ground floor with retail area, plus 3 underground parking levels.

Upon completion, in 2018, the column-free office space with floorto-ceiling windows will offer amazing 360o views over the city and an efficient space layout with unlimited arrangement options. The building is built to achieve the BREEAM Excellent ranking under the new 2016 sustainability regulations.

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.

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

CBC-Office

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.

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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Located in vibrant Cluj-Napoca, within 700m from the city center, RECORD offers the perfect balance between living, working, education and leisure. All functions are integrated into a mixeduse environment with A-class offices up to 12.000m2, more than 230 apartments, a historical building rejuvenated and transformed into an innovation hub, leisure areas and sport facilities. RECORD’s A-Class Offices contain 3 underground parking levels, ground floor and 6 large-floorplate efficient upper floors. Public transport, convenient stores, restaurants, fitness and kindergarten are all within minutes walking. The BREEAM Excellent certification subscribes the intention of this newest modern office development, reviving this inner-city area of Cluj-Napoca.

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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Real estate developer Forte Partners leased 18.000 sqm office space out of a total of 36.000 sqm of The Bridge office building, one of the latest developments of the company, located near the Basarab overpass, in Orhideea area. LEED GOLD certificated project The Bridge, now in its first development stage, will deliver a total of up to 57.000 sqm rentable area, a central courtyard, 616 parking places indoor, 72 parking places outdoor, among other facilities.

Ownership: 100% ; Lettable area: 36,300 sq m; Valuation: €107,7 million; Passing rent: €7,9 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: €65,3 million; Passing rent: €5.3 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

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: 47.600 sqm; Valuation: €97.7 million; Passing rent: € 8.0 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: 42,800 sq m; Valuation: €72 million; Passing rent: €6.6 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

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.

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 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.

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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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.

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 Immochan Romania 25 Brașov Str., 5th fl., 061 444, Bucharest T: 0374 810 080 5 Turnului Street, 500152, Brasov, ROMANIA M: 0733 455 519 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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City Gate Bucharest, Romania A property of Global Trade Center tel: +40 372 168 101 office@gtcromania.ro www.gtcromania.ro

Premium Plaza Bucharest, Romania A property of Global Trade Center tel: +40 372 168 101 office@gtcromania.ro www.gtcromania.ro

Premium Point Bucharest, Romania A property of Global Trade Center tel: +40 372 168 101 office@gtcromania.ro www.gtcromania.ro

Cascade Office Building Bucharest, Romania A property of Global Trade Center tel: +40 372 168 101 office@gtcromania.ro www.gtcromania.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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City Gate, 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 two tower buildings with flexible design rentable space totaling approx. 47.700 sq m. and over 1.000 parking places.

Premium Plaza, is located in Victoriei Square, the financial and administrative center of Bucharest, with direct connection to the subway and additional public transport by buses and trams and 20-25 minutes to Henri Coanda International Airport. The A Class office building has a total leasable area of approx. 8.600 sq m. and over 85 parking spaces.

Premium Point, is located near to Victoriei Square, the financial and administrative center of Bucharest, with direct connection to the subway and additional public transport by buses and trams and 20-25 minutes to Henri Coanda International Airport. The A Class office building has a total leasable area of approx. 6.400 sq m. and over 72 parking spaces.

Cascade Office Building is located near to Victoriei Square, the financial and administrative center of Bucharest, with direct connection to the subway and additional public transport by buses and trams and 20-25 minutes to Henri Coanda International Airport.

Developed in 2004, the Cascade Office Building is a class-A office building with a surface of 4,300 square meters.

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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Iulius is developing Openville in Timisoara, the second mixed-use project in its portfolio after the one in Iasi, a combination of more than 130,000 sqm of office premises in seven office buildings, 131,000 retail sqm, more than 450 stores, restaurants and themed cafés, a multiplex cinema, a fresh market area and four events halls. Moreover, the people in Timisoara will also enjoy the largest suspended park in Romania, a green space spanning on over 55,000 sqm, and 4,050 underground and multi-level parking spaces.

Openville

Bega Business Centre is developed on Republicii Blvd, close to the city centre, and will integrate class A offices together with retail functions – restaurant, coffee shop and services area. The new development, second building with a regime height of B+GF+7F+Technical Floor, has already obtained the building permit. Forward, a third building will be developed, at the end the total surface of the business park will be around 73,000 sqm.

Bega Business Centre

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, is a park for creative ideas, a dynamic ecosystem with 30 Companies from It&C, R&D domains, all in one unique area both conceptually and architecturally. The 4.5 ha project includes five buildings, totaling 17,000 square meters of Class A office space with a high degree of energy efficiency, BREEAM „Excellent” and has received many distinctions for both design and functionality. Liberty Technology Park Cluj, re-branding the former Libertatea factory, was launched on December 5, 2013, and has a third phase of development planned (36,000 sqm land free of construction - opportunity for new development).

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.

Iulius Mall Timișoara Administration Secretary’s Office No.1 Aristide Demetriade Street, Timișoara, România Tel: +40-256-401.604 www.openville.ro

Bega Group 1-3 Marasesti street, Timisoara emil.cristescu@begagrup.ro www.begagrup.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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Hili Ventures Limited Nineteen Twenty Three, Valletta Road, Marsa MRS 3000 Malta Telephone: +356 2568 1200 Email: info@hiliventures.com

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 4 Vasile Alecsandri Street, District 1, Bucharest 11 Constantin Daniel Street, District 1, Bucharest +40 21 211 10 12 Mobile:+40 721 294 700 Fax:+40 21 619 31 71 office@thelandmark.ro

Hili Properties, the real estate division of Hili Ventures, has finalised the acquisition of ART Business Centre in Romania’s capital Bucharest, following an investment in excess of €30 million. Located in the affluent Nordului neighbourhood in northern Bucharest, the nine-storey property boasts 18,600 square metres of gross leasable area and sits on a footprint of 3,400 square metres. The three underground floors accommodate 407 parking spaces. Hili Properties holds and manages a strategic collection of commercial property for lease in Latvia, Lithuania, Estonia, Malta and now Romania.

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 blvds’, 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 – 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.

Metropolis PPF Real Estate s.r.o.

Evropská 2690/17 160 41 Prague 6 Czech Republic Juraj Šaštinský Investment Director Phone: (+420) 2241 74350 sastinsky@ppfreal.com www.ppfreal.com

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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.

Adam Europe, through Hoshen Holdings SRL, managed by Isaac Cohen Hoshen as CEO, acquired Phoenix Tower and Construdava in 2016 and 2017 respectively. The double acquisition marks the re-entry on the Romanian market of the group, which prepares the development of new residential projects, such as the Reveria project in eastern Bucharest, and the expansion of its office portfolio.

Construdava has a gross leasable area of approximately 9,400 sqm.

The Phoenix Tower project is located in the central area of Bucharest, near Bucharest Mall. With a gross leasable area of approximately 10,000 sqm, the building’s main tenants are companies such as Zitec, Netop and EBS Romania.

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 Office Address 850 3rd Ave #13D New York, NY 10022, USA sales@adamamericare.com (646) 439-6000

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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 the next generation business hub, providing 26.000 sqm of premium class A offices, strategically-designed architecture and state-of-the-art facilities - an entire corporate universe situated near the heart of Timisoara’s commercial district.

This cosmopolitan business hub brings exquisite features for your thriving business and your team as well: up to 3.500 sqm rentable space per floor; suspended terrace; biometrics-based access; parking spaces with chargers for electric cars; wide range of connected services - all in one energy efficient, BREEAM certificated cosmopolitan hub, with 85,6% “Excellent” score.

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 Developed by Werk Property Group 8 Calea Aradului, Timisoara Mobile+40 756 051 041 Office+40 356 086 085 office@voxtechnologypark.ro www.voxtechnologypark.ro

Novis Plaza Novis Plaza is the newest Class A office building in Cluj-Napoca, developed by Transilvania Constructii, offers up to 14,000 sqm of open space with premium technical solutions such as LED illumination, technical floor and BMS, all following in the biophilic design concept of the building. Conveniently located within 8 minutes from the city center and 5 minutes from the Central Park, the project developed over 300 parking spaces for over 1,500 employees, and the free integrated service of a private bus shuttle.

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.

Mulberry Development, the real estate developer controlled by Ovidiu Sandor, has secured a loan from Raiffeisen Bank for the first phase of Timisoara-based ISHO Offices. The first phase of ISHO includes the development of 16,500 square meters of leasable office space.

ISHO will be completed in 2020 and has 3 development stages. It will include over 50,000 sqm of office space, 1,200 apartments, and 2,000 parking spaces alongside additional features such as green spaces, restaurants and after-school facilities.

47 Taietura Turcului street, 400221 Cluj-Napoca, Cluj County Bolog Alexandru Head Leasing Manager T:+40 (264) 416 597 | M:+40 (722) 757 144 b o l o g . a l e x a n d r u @ transilvaniaconstructii.ro www.novisplaza.ro

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

ISHO Offices Developed by Mulberry Development +40 721 370 072 offices@isho.ro www.isho.ro

INTERESTED IN RENTING THE ABOVE LOCATIONS? Call your agent! | www.24real.ro

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INDEX

Explore the magic world of colours! www.caparol.ro

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THE NEXT CHAPTER

Initially inspired by a series of cover stories about industrial parks in Transylvania (in 2012-2013) - for our monthly magazine (with only regional focus at that time), the project of an integrated catalogue/yearbook evolved into a real estate investment guide – with office and logistics, the most comprehensive yearbook entirely dedicated (so far) to the Romanian market, with support from flagship companies and leading experts in the industry. Having the privilege to discover new projects, simultaneously with the rising of the European real estate market and the redefining of the Romanian market, the initiators of this project took the mission to promote the positive impact of the projects and investments, key experts and their visions, new

business opportunities, further than in the specific group of professionals within the real estate industry, through three main pillars (direct controlled distribution to managers, interactive distribution to a selection of premium B2B events nationwide and through exposure – stands – placements to international events) to more potential tenants, service providers, investors and influencers, media or active entrepreneurs, business associations or clubs, bilateral chambers and diplomatic representatives, in Romania, but most recently to more international key events, forums or exhibitions/trade fairs (in Munich, Vienna, Warsaw, Budapest, London, Bratislava, Prague, Cannes and more to be added soon), in an effort to highlight the market evolution and the

opportunities in Romania, in a global context and high competition between players and countries also in CEE. Once again we are immensely proud to have you reading this anniversary edition and we invite you to interact, communicate, promote and let us know about your plans and successes, all year long, by email or calls, through events and our friends we are sure you know by now, to inspire us further in the evolution of this exclusive concept: commercial presentations in dedicated chapters. We would like to take this opportunity to thank all of our strategic sponsors, partners, guest authors, suppliers of ideas, networking partners and promoters, without whom it would be impossible to create this yearbook.

(Team TB)

Main partners 2013 - 2017: WDP | TETAROM | ES Elektro | P3 Parks | Immofinanz | TAROM | Anchor Grup | Liberty Technology Park | NGB | CBRE | Vastint | Unirii View – Speedwell | Vox Technology Park – Werk Property Group | CTP | Zacaria | Frisomat | DPD

Networking partners: German Chamber of Commerce (AHK) Romania | Property Forum – Portfolio | EuropaProperty.com | ABSL Romania | ROFMA - The Romanian Facility Management Association | British Romanian Chamber of Commerce | French Chamber of Commerce and Industry in Romania (CCIFER) | Doingbusiness.ro | Business Days | Translogistica | Belgian Romanian Business Association| Libero Events | Business Mark | Bucharest Airports National Company | Pria Events | Share – AB Plus events | Netherlands Romanian Chamber of Commerce | Advantage Austria | Kron-Tour Expo | Romexpo | InvestRomania | GreetVienna | The Chamber of Commerce and Industry in Romania | X Party & Networking

Proudly promoting Romanian real estate market since 2013 151

2017-2018 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 Marius Morar marius.morar@transilvaniabusiness.ro Florin Marcel florin.marcel@transilvaniabusiness.ro General Editor Ligia Voro Distribution Manager Gabriela Belean +40 756 265 547 Accounting: Emo Veres +40 265 215 613 Address Transilvania Business SRL 1 Primariei St., Chamber of Commerce, 2nd floor, room 206.

P.C. 540026 Tirgu Mures, Mures County Published by Transilvania Business, editor of monthly mag­azine Transilvania Business.

Circulation: 15,000 copies All rights reserved by www.transilvaniabusiness.ro To recieve additional complimentary 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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