Knight Frank opens new office in growing Romanian market

Agent Knight Frank has formally tied the knot with its Bucharest-based partner The Advisers, becoming a fully branded Knight Frank business with effect from this month.

Knight Frank entered the Romanian commercial property market in May 2009, forming an association with The Advisers, whose directors have over 17 years of real estate experience.

The team, headed by Horatiu Florescu, recently transacted on the biggest leasing deals of the year: Oracle’s expansion in SkyTower (10,400 m2) and in Oregon Park (20,000 m2), and Genpact's pre-leasing of up to 25,000 m2 in the Hermes Business Campus.

The office specialises in office, capital markets, retail, industrial and land advisory services, as well as valuation and has recently added corporate residential to its business lines.

Chris Bell, managing director of Europe at Knight Frank said: 'After six successful years together, we are delighted to officially become Knight Frank Romania, and look forward to expanding our presence and success in the local real estate market.

Investment levels in Romania reached €1.15 bn in 2014, the highest figure since the onset of the financial crisis. While the rising demand for office space in Bucharest resulted in the highest take-up level in years in 2014, development activity is also on the rise, sustained by a surge in pre-leasing levels, the agent said.

'On the back of Romania’s strengthening economy, forecast to grow by another 2.8% in 2015, both occupier and capital markets continue to benefit from improved sentiment across all business sectors,' it added.