Some of these transactions target the consolidation of operations into one building, as is the case of Raiffeisen and Oracle, SCT Bucuresti chose to move its offices into a building in the Pipera-Tunari area (northern Bucharest), while Bitdefender will relocate from the West Gate project in the Preciziei area (western Bucharest) into a building on Delea Veche (southern Bucharest).
Overall, the 10,000 employees make up around 6-7% of those who work in modern office buildings in Bucharest.
Design companies and suppliers of office furniture say it costs at least EUR2,000 to relocate an employee. The amount includes designing and setting up the new space, new furniture, spending for the actual relocation and the fee paid to the agent who brokers the transaction.
Major companies choose central buildings on the Piata Victoriei square – Piata Aviatorilor square – Floreasca axis, while smaller firms and companies with back-office activities are relocated to less central areas.
The biggest moves of the year will be made by Austrian bank Raiffeisen and by IT giant Oracle, which will relocate around 4,000 employees into two new office projects in the Floreasca-Barbu Vacarescu area, close to the Pipera overpass.
“Our estimate is that the relocation will be finalized in July. The process concerns around 1,700 people (the bank’s central administration and subsidiaries)” say representatives of Austrian bank Raiffeisen, which will leave its offices on Dimitrie Pompeiu boulevard and in Charles de Gaulle Plaza for six floors in the Sky Tower building on Barbu Vacarescu boulevard and for spaces in the nearby Floreasca Office building.
Oracle on the other hand currently has around 2,000 employees in the Floreasca Business Park, Oracle Tower and Nusco Tower buildings, but last year signed a contract to rent an around 20,000 sq-m area in the Floreasca Park project that Portland Trust wants to make operational by the end of the year next to Pipera overpass.
The question is whether Oracle will keep any operations in any of its current offices, but for the time being neither Oracle representatives nor those of NEPI (the owner of Floreasca Business Park) or of the Uniqa group (owner of the Oracle Tower) have provided information on the matter.
Who else is moving?
“We have started to set up the Tower Center offices and I think the relocation process will be finalized at the end of April. Around 200 employees will work there,” said Remus Borza, judicial administrator of state-run Hidroelectrica, which rented 3,200 sq m in Tower Center in Piata Victoriei square.
Insurance group Generali will move around 400 employees in May from Piata Victoriei square to the Charles de Gaulle Plaza building in Piata Aviatorilor square.
One of the few companies that chose to rent offices in Pipera is SCT Bucuresti, which chose to move its offices into the North Center building owned by Austria’s Immofinanz in the Pipera-Tunari area.
Bitdefender, one of the leading global providers of antivirus solutions, developed by Romanian Florin Talpes, will in the coming weeks relocate around 400 employees from West Gate Militari business park to a building on Delea Veche street, in a deal brokered by real estate consultancy Crosspoint.
(English version by Daniela Stoican)