LAND FOR SALE

NOKIA has started in 2015 a process to consolidate its offices in Timisoara into a single location, as part of the new Bega Business Park developed by Bega Grup.

The relocation and expansion activity followed several phases during 2015-2017, reaching today a total office area of 27,000 sq m leased by NOKIA in Bega Business Park. The company becomes the largest office occupier outside Bucharest.

NOKIA has started in 2015 a process to consolidate its offices in Timisoara into a single location, as part of the new Bega Business Park developed by Bega Grup.

The relocation and expansion activity followed several phases during 2015-2017, reaching today a total office area of 27,000 sq m leased by NOKIA in Bega Business Park. The company becomes the largest office occupier outside Bucharest.

NOKIA fully operates the park’s 1st building of 15,700 sq m GLA, currently under expansion with another 1,420 sq m, and has pre-leased 10,230 m2 in the second building that is now under construction, being assisted by the real-estate consultant ACTIV Property Services.

"Bega Business Park is located in the central area of Timisoara, at a distance of just 500 meters from the historic city center. The park’s location and modern characteristics have attracted NOKIA to relocate their offices here, extended now to over 27,000 sq m GLA. The succesful reconversion of the 1st building was followed by the start of construction for a new building of 14,000 sq m GLA, where over 70% of the area is already prelet by NOKIA.” says Felicia Vasiu, Head of Timisoara Office at ACTIV Property Services.

Bega Business Park is one of the main office projects under pipeline in Timisoara, following to include over 73,000 sq m GLA of A-class offices at completion. The first building of 15,700 sq m GLA was delivered in 2015 through the conversion of a former hall to A-class offices. The second building is now under construction, having 14,000 sq m GLA on 7 floors, with planned delivery for the beginning of 2018. Other three buildings, similar with the one under construction, are planned to be developed in future.

The office market in Timisoara witnessed a record-high activity last year, including major leasing transactions of over 45,000 sq m GLA. The demand is coming especially from the IT&C companies that continues to expand and consolidate their operation to modern offices. Timisoara is the 3rd largest office market in Romania, after Bucharest and Cluj-Napoca, including a speculativ stock of 185,000 sq m GLA.