Dynamism taking over the North-Western office market in Romania: 70% of COS's shared offices & coworking space business comes from Stables Cluj, up by 14% vs. the previous year
Stables space in Cluj, owned by COS, generated revenues of EUR 423,000 in 2023, accounting for 70% of the total COS shared offices and coworking business. - Stables' occupancy rate was 95% last year, up by 15 percentage points compared to…
- Stables space in Cluj, owned by COS, generated revenues of EUR 423,000 in 2023, accounting for 70% of the total COS shared offices and coworking business.
- Stables' occupancy rate was 95% last year, up by 15 percentage points compared to the previous year.
- 75% of the demand for shared offices and coworking office comes from well-established companies or big corporations, not from freelance activity.
- The significant volume of demand for shared offices and coworking space is correlated with the dynamics of technology and start-ups. 70% of COS clients in this segment come from these sectors.
COS, one of the leading providers of integrated fit-out services and a pioneer in this segment in Romania, reports revenues of over half a million (0.6 million) EUR from the rental of owned shared offices and coworking office spaces alone, on the back of accelerated growth in the segment. 70% of the total revenue on the shared offices and coworking office space segment comes from Stables, COS’s space in Cluj-Napoca.
Stables is a nearly 1,000 sqm space launched by COS in 2020, spanning 2 floors of a 200 year old building, which was turned from a production facility to a modern office space, following a 750,000 EUR investment. The space’s capacity is 86 seats in private offices, 16 dedicated desk and 20 hot desks, a common area and networking space, 5 meeting rooms and a conference area. Stables serves as headquarter and showroom of COS in the North-Western part of the country, catering for its main design and build services.
COS reported a 95% occupancy level for Stables at the end of 2023, up by 15 percentage points from the same period in 2022. On average, around 95% of the customers consider that the design positively impacts their productivity and creativity, they value the comfort and ergonomics of the space and appreciate Stables as a trusted partner.
Contrary to market preconceptions that the shared offices and coworking office space area in Cluj is mainly for freelancers - and not companies, 75% of Stables' revenue comes from well-established companies or large corporations.
“In only 4 years of activity in Cluj, we managed to establish Stables brand as a reference when it comes to the shared offices and coworking space activity. A clear differentiator for Stables on the market is the care we offer to our clients, beyond the services, the vibrant design and the community spirit nurtured by the space. Based on COS` 26 years of solid design and business expertise in Romania, pioneering this new quality shared offices and coworking spaces segment is a natural step forward for us." says
