The German company has been operating in Romania for 20 years within a partnership with Romanian businessman Ion Tiriac, with Allianz-Tiriac insurer posting gross underwritten premiums of EUR209 million in 2013.
Now, though, Allianz wants to move the activity of a services center of Western Europe to Romania owing to the lower salary and office space costs domestically, shortly after banking giant Deutsche Bank also opened a technologic center in Bucharest, set to hire 500 persons.
Last summer, the German company set up a branch of Allianz Managed Operations & Services (AMOS) unit of Munich in Romania, and AMOS has already started seeking employees for positions such as financial reporting specialist, project manager for corporate real estate services.
AMOS is headquartered in Munich and has operations in Austria, Belgium, Great Britain, India, Ireland, the Netherlands, Singapore and Switzerland, according to data posted on Allianz website.
Spaces for around 400 employees are likely to be fitted out in the offices Allianz rented in Floreasca Park, developed by Portland Trust, according to ZF estimates.
The domestic representatives of Allianz group did not comment on the information by edition close.
Floreasca Park is a new office project, delivered at the start of this year in the wake of investments of around EUR70 million. One of the buildings of the park is entirely rented by US Oracle.
The space rented by Allianz is in the second building of the project.
The representatives of Portland Trust did not provide details on this contract by edition close.
Bucharest’s office market has in the past year given signs of a rebound particularly amid recruitment operated by IT companies present in Romania and the development of new technological and services center.
Nevertheless, Bucharest still has more than 35,000 square meters of vacant offices, so that companies still have large spaces at favorable rents at hand to develop their businesses in Romania.
(English version by Catalina Apostoiu)