BANEASA BUSINESS & TECHNOLOGY PARK SA
A Romanian registered company established in 2005 as a specialized vehicle for developing, holding and operating an office project, located in Baneasa area, on the largest commercial platform in Romania. Baneasa Business & Technology Park is part of the mixed use Baneasa project, one of the largest commercial schemes in the Central and Eastern Europe. The retailers present in Baneasa project are Bricostore, Mobexpert, Carrefour together with Feeria Shopping Gallery and Baneasa Shopping City. Also, the first IKEA shop in Romania is also part of the above mentioned project.
In the current stage of development, the business park has a GLA of 27,000 sqm of class A office, spread over 24,400 sqm of land. The land retains also a further development potential, as much as 8,500 sqm of free land, that would enable some 15 to 20,000 sqm of additional GLA. Opportunity wise, the North office area of Bucharest is emerging more than the market average, but the main criteria for projects in pipeline is the accessibility, where even though it benefits of the highest road traffic in Romania, Baneasa lacks the benefits of a subway access. A project to link Bucharest with its main international airport by subway has been discussed by local authorities, but an actual implementation is still far from becoming a reality.
Nevertheless, given the above competitive disadvantages, the company performed, better than its competition in the proximity area. The rent levels decreased on average, but less than the market trend and the occupancy ratio remained constantly high, more than 90%.
Baneasa Business & Technology Park (BBTP)
The park comprises two office buildings with a height regime of UG+GF+4F+technical floor.