International property advisor Jones Lang La Salle yesterday announced it has opened a new office in Bucharest, Romania. The new addition follows seven other new offices opened over the last year in Dubai, Rome, London Heathrow, Zaragoza in Spain, Kiev in Ukraine and Kazakhstan capital's Almaty.
International property advisor Jones Lang La Salle yesterday announced it has opened a new office in Bucharest, Romania. The new addition follows seven other new offices opened over the last year in Dubai, Rome, London Heathrow, Zaragoza in Spain, Kiev in Ukraine and Kazakhstan capital's Almaty.
The new Bucharest office, managed by Charles Krick, will offer investment advice, office and retail leasing services and high/quality market research. It will be an extension of the firm's office in Budapest lead by Thierry Delvaux.
The Romanian market is poised for growth in both demand and supply across all property sectors, supported by a rapidly maturiing real estate sector and increased transparency over the next five years. The growth is also related to structural reforms associated with Romania's entry into the European Union this year.
'We have already been working extensively in Romania which, having joined the EU on January 1 continues to attract increasing levels of international developer and investor interest. As a result, the investment market has witnessed rapid yield compression and the growth of our investment business was ultimately the trigger for Jones Lang LaSalle to open in Romania', said the firm's ceo Alastair Hughes.
