Reinsurer SCOR Romania to move into Vastint development in Bucharest
SCOR, a leading global reinsurer headquartered in Paris, announced that it will move its local headquarters to the Timpuri Noi Square Phase 2 development operated by Vastint in Bucharest. The move will take place in the summer of next year.
Before the announcement, the company had decided to establish its first office in Romania in the Business Garden Bucharest, also part of Vastint Romania’s portfolio.
The reinsurer generated premiums of EUR 18.7 billion in 2025 and serviced clients in 150 countries.
In Romania, the SCOR office currently occupies a space of 2,320 square meters. The relocation will allow it to have 3,250 square meters for its activities.
“Signing this pre-lease agreement with SCOR for the next phase of Timpuri Noi Square marks a natural continuation of a partnership that started within our own portfolio,” said Antoniu Panait, Managing Director, Vastint Romania.
“We are pleased to see this collaboration continue and to support SCOR in the next step of their development in Romania. At the same time, we are in advanced discussions with several other companies interested in Timpuri Noi Square Phase 2, further confirming the strong appeal of our flagship project,” he added.
Timpuri Noi Square 2 project, set for completion in Q4 2026 and fully operational in 2027, is currently the largest of the very few office projects under construction in Bucharest. Phase 2 will add 60,000 square meters (GLA) and introduce two new office buildings, effectively doubling the available office and retail space within the Timpuri Noi Square complex up to 112,000 square meters of GLA.
The 3 buildings in the first phase of Timpuri Noi Square, with a total rentable area of 52,100 square meters, are now 100% leased, among the tenants being Playtika, Ayvens, Radio AG (Kiss FM, Magic FM, and Rock FM), Fratelli, Zitec, Bolt, Go Pro, Vola, and others.
Phase two of the project will benefit from an additional 690 underground parking spaces and a wide range of retail spaces. Also, phase two will host the largest food hall in an office building in Romania, with an area of nearly 6,000 square meters.
"Our decision to move next year into a larger space reflects our confidence in our success on the Romanian market and our long-term commitment to growing our presence here,” said Andrei Romanescu, General Manager SCOR Bucharest.
Vastint Romania has been active in the Romanian market since 2008 and is part of the international Vastint Group, with over 36 years of experience in real estate. The company owns and manages two landmark office projects in Bucharest: Timpuri Noi Square and Business Garden Bucharest, comprising a total leasable area of 95,257 square meters.
Upon completion of the second phase of Timpuri Noi Square, Vastint Romania’s portfolio will reach 155,000 square meters GLA of modern office space.
(Photo source: Vastint press release)
