Software company leases 8,000 sqm in CA Immo’s new Orhideea Towers

Financial software producer Misys has leased 8,000 sqm of office spaces in Orhideea Towers, a new office project developed by Austrian group CA Immo in Bucharest. Misys is the first tenant of Orhideea Towers, a project comprising 37,000 sqm of gross rentable floor space, developed in the central-west area of Bucharest, next to Grozavesti metro station and the Regie student campuss. Misys, a global company with more than 2,000 customers in 130 countries, will move to Orhideea Towers in March 2018. The company has a ten-year lease agreement, with the option of expanding to a total of 13,000 sqm. Real estate consultancy firm CBRE Romania brokered the lease. Misys has been a tenant of a CA Immo portfolio building since 2008, with their Romanian office located at River Place, a project in the vicinity of Orhideea Towers. As the company continues to grow in Romania their premises have steadily expanded from 2,200 sqm to the current level of 6,500 sqm. Misys has been active in Romania since 2006. The company had a turnover of EUR 13.2 million and 428 employees in 2014. Orhideea Towers is the first personal development of CA Immo in Romania. It will absorb a total investment of EUR 75 million. Construction started in 2015, and the overall project will be delivered 2017, with Austrian group PORR Construct assigned as general contractor. The project will have a total gross rentable area of 37,000 sqm and includes two towers, linked by a bridge enveloped in a glass façade. The two towers 13 and 17 storeys respectively. CA Immo has been active in Romania since 2001 and owns five offices building: Opera Center 1 and 2, River Place, Europe House, and Bucharest Business Park, with a total rentable space of 106,300 sqm. The portfolio value was approximately EUR 258 million and the occupancy rate stood at 93%, at the end of December 2015. What makes Bucharest’s office market so hot right now? Andrei Chirileasa, andrei@romania-insider.com