Operational costs were influenced by the minimum wage hike, as well as by the rising number of employees returning to offices.
“The operational costs of a building are still the main concern of property managers and keeping them at a competitive level that best meets the needs of tenants, secure quality standards and also fit in with the financial projections of building owners is a challenge for the teams managing the projects,” said Mihaela Petruescu, Partner Asset Services Cushman & Wakefield Echinox.
The Asset Services team of Cushman & Wakefield Echinox has a portfolio of 14 real estate projects with an area of over 450,000 square meters and a market value of almost EUR500 million.
(English version by Catalina Apostoiu)