COS invests EUR 1.6 mln in R&D workspace centre in northern Bucharest

COS, a pioneer of the Romanian fit-out market, said it launched a research and development (R&D) workspace centre in the northern area of Bucharest on June 15, following an investment of EUR 1.6 million.

The new 2,000 sqm MASIA space is designed to function both as a serviced space for tenants and a test space for customers` future work setups.

The launch marks 25 years of activity for COS, one of the first players in the local fit-out market. In recent years, the company has expanded its expertise by investing in its own spaces portfolio, which currently covers a total of 4,200 sqm in all its four locations in Cluj, Bucharest, Timișoara, and Iași.

The COS business grossed a total of EUR 28 million turnover in 2022. Its serviced offices portfolio, Stables in Cluj and MASIA in Bucharest, are estimated to generate EUR 0.6 million in annual revenue.

Twenty-five years since its launch, COS has generated a cumulated revenue of EUR 345 million, and almost 50% of it is currently generated by customers outside of Bucharest. The company has constantly introduced innovative concepts and solutions in Romania and has signed so far a total of 19.000 projects for 2.700 large customers such as Orange, Telecom, Oracle, HP, IBM, Pfizer, KPMG, PWC, Ernst & Young, Accenture, BRD, Citibank, Radisson Hotel Chain, or Daruieste Viata Association (the hospital built at Marie Curie).

According to experts at COS, the current average investment in interior design and build space ranges from EUR 500 to EUR 800 per sqm. For premium projects, the investment surpasses EUR 800 EUR per sqm.

(Photo source: COS)