One year ago, CBRE, the global and national real estate consultant market leader, promoted a Romanian as the coordinator of the real estate management division for the Central and Eastern Europe (CEE). In just one year, the managed portfolio expanded by 50 percent, and with it the team grew, so at age 39, Luiza Moraru coordinates a team of over 600 people, being the only real estate consultant in Romania with a position of management at regional level.
Luiza Moraru has over 18 years of experience in the real estate consulting market, of which the last 11 years at CBRE Romania, plus five years in Eurisko, a company previously acquired by CBRE. In the role of Head of Property Management CEE, Luiza is responsible for managing and expanding the real estate portfolio in Romania, Poland, Austria, the Czech Republic, Hungary and Slovakia. In addition, the eight EEA countries (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro, Serbia, Slovenia and Greece) were added in 2019, with CBRE opening the property management division in these markets.
In the past year, the portfolio of properties managed by CBRE has increased by 50 percent, exceeding 6 million square meters of office space, shopping centers and industrial premises. The Property Management team has also expanded with specialists from different domains that bring added value to the real estate market, from the hotel industry to digital and technology experts.
“The property management market continues to grow both in Romania and in the region. It is a natural development, due to increasingly diversified and personalized services that can increase the value of properties in the medium and long term. If at this moment, the administration outsourcing rate is 30-35 percent at the level of the region, we estimate that within three years we will exceed the 50 percent threshold, with mature markets above 80 percent,” he said Luiza Moraru, Head of Property Management CEE, CBRE.
Customizing Property Management services for an office building or a shopping mall include assigning a team dedicated to the project, Community Management – responsible for organizing specific events in positioning the building, the profile of tenants and their employees, sensorial marketing, and technology integration in the everyday life of occupants of the building by using mobile applications. All these services have the role of transforming the environment inside and outside a building so that the use of premises, whether working in an office building or shopping at a shopping center, becomes an experience as pleasant as possible.
“On the office market, the decision to relocate companies is increasingly linked to what employees want, and the office and the community around them become decisive factors in attracting and retaining talent. Therefore, services that can make life easier for employees are extremely important. It is a chain reaction: employee satisfaction leads to loyalty, which results in the loyalty of tenants, or lease agreements for longer periods, which translates into increasing the value of the properties for the clients we represent,” explained Luiza Moraru.
The same is true for shopping centers, where services and experience creation have a major influence on the decision to choose a particular destination. In Central and Eastern Europe, CBRE manages a portfolio of 138 retail projects with a total area of approximately 2.2 million square meters, similar to the total office space area (2.3 million sq m). The retail sector has always been focused on consumer experience, and for CBRE this element has not been limited to retail, as experience is a transformative factor in any environment.
“With the help of a strong team and already having a considerable portfolio of retail space, we were able to develop the property management services for office buildings in a unique way. CBRE uses the know-how accumulated in the management of shopping centers and adapts it to the needs of office buildings. It is a complete transformation of the way the occupants of a building interact with space, from the moment they approach the building and can see online how many parking spaces are free and until they leave the office and find out what events happen at the restaurants or pubs in the area,” concluded Luiza Moraru.
In Romania, the property management department was set up at the end of 2013. In the past three years, the local managed portfolio has increased sevenfold, exceeding 770,000 sqm, including the Sun Plaza Bucharest, VIVO! Cluj, VIVO! Constanta and the New Square Times Square offices, Aviatorilor 8, Floreasca Business Park, Lakeview, Campus 6.1 or Victoria Park.