Marius Scuta has over 16 years of experience in the real estate market. After eight years of experience in telecommunications with large corporate accounts, he started his career in the commercial real estate market in 2007 as an office team coordinator. From 2009 until the exit of real estate consulting firm JLL from Romania, he had held the position of National Director, Head of Office Leasing Department & Tenant Representation, and was a member of the company’s board. Over the last years, he has developed and led teams whose performance allowed them to stay in the top 2, while ensuring cohesion and continuity in the departments under his helm. Marius Scuta’s personal portfolio already includes over 600,000 square meters of directly leased or managed office space.
“It’s a challenge I’ve been looking forward to, to drive growth for the market leader in commercial real estate. This is a provocative context for me, with 2024 with no deliveries in the office building segment, infrastructure unknowns in the Industrial Logistics segment, a perspective shift in the retail segment, and the same investor pool in the market, plus rent pressures, increased costs and uncertainty. Still, I believe that tough times are launch pads for the most exciting opportunities, and with the support, capabilities, and know-how of the CBRE teams I intend to showcase this”, stated Marius Scuta, Head of Business Development at CBRE Romania.
According to CBRE, the office sector in Romania is going through a period of repositioning due to the macroeconomic context, remote work, and the lack of new office spaces. Even with no new deliveries in 2024 and a limited number in 2025, the third quarter of this year was a record year for total leasing activity. As companies remain cost-conscious, lease renewals and flight-to-quality relocations were the main demand drivers this quarter. Over 164,000 sqm were transacted in Bucharest and this has a positive aspect, which could be interpreted as a reconfirmation of the long-term commitment of existing companies in the market.
“(…) There is a lot of potential in the local market, especially in these challenging times for the key sectors, office and investment, which benefits those who are bold and creative, and Marius is bringing a fresh, competitive spirit that we need for growtth”, said Razvan Iorgu, General Manager of CBRE Romania.
In January-September 2023, the modern office space market has fluctuated, sending mixed signals, but the overall leasing activity, of 352,500 sqm, exceeded the figures recorded in the previous year and could reach a historic level.
Nevertheless, this period represents an opportunity for owners of existing office buildings to improve the quality of spaces through solid rehabilitation works and the introduction of missing ESG elements so that older buildings can achieve a level similar to that of new ones. At the same time, companies continue to optimize their office space by adapting to hybrid work. However, companies risk being unprepared for possible waves of new hires or increased office presence.The office market in Romania has reached a level of stability that has absorbed the changes brought by hybrid work, and it will eagerly welcome new buildings that meet the attributes sought by tenants. A mature evolution towards a superior and sustainable office market is anticipated.