#REGUIDE20 | Fulga Dinu, IMMOFINANZ: myhive brand to be rolled out to more office buildings

Mihai-Alexandru Cristea 09/11/2020 | 14:21

Real estate group IMMOFINANZ is upgrading its office stock in Romania under the myhive brand, with investments focused on employee wellbeing and greater flexibility for companies who lease spaces. The company inked leasing contracts for 40,000 sqm of office space in the first three quarters of 2020 and secured an occupancy rate of 91 percent for its local portfolio, according to Fulga Dinu, the country manager of IMMOFINANZ Romania.

By Ovidiu Posirca

 

What is your development strategy for myhive in Romania?

myhive is the office concept that sets a trend in the segment, having been created with one main goal in mind: to support successful companies in all their needs. As the workplace is evolving, there is a growing trend towards more spacious areas featuring lounge spaces, fitness and bicycle rooms, event areas, and conference rooms.

We are now in the process of rolling out this brand to two additional office buildings, namely myhive IRIDE | eighteen and myhive | IRIDE nineteen, which are to be re-opened soon. The investment projects bring an extra leasable space of approximately 28,000 square meters and a significant share of the new areas has already been leased.

The two buildings have gone through a full upgrade process. The refurbishment included a redesign of the main lobby areas to allow plenty of natural light and the implementation of an attractive and warm architectural design. This contributes to employees’ positive mood and it stimulates creativity, which is crucial for business development.

 

What is the feedback from tenants currently operating in office buildings under the myhive brand?

Reactions from employees and tenants have been good. Occupancy rate figures in our office buildings are very important indicators in this regard. We have eight operational office properties and two office buildings currently undergoing a modernisation process in Bucharest and Voluntari with a 91 percent occupancy rate.

Despite the pandemic, we signed contracts for more than 40,000 sqm during the first nine months of 2020. These included contract extensions and expansions as well as new tenants joining our office buildings.

As every aspect of the workplace needs to be taken into account – from a lively lobby to attractive outdoor spaces – myhive buildings have receptions and lobbies inspired by luxury hotels where our supportive staff make employees feel like home. The lively indoor and outdoor lounge areas are inviting spaces for tenants to use for networking during events and special activations organised by the myhive community manager for our community members, based on their wishes and needs (all employees working in myhive buildings are members of the myhive community). The buildings also include restaurants and cafeterias, conference and event facilities, fitness rooms for classes with instructors, bike rooms, showers, and lockers.

Office buildings nowadays must offer much more than simple workspaces; they’re more like living spaces, with employees’ wellbeing becoming a priority. This will be the essence of the office experience and we expect this trend to continue in the future as office landlords pay more attention to the needs of their modern customers.

Flexible working and the home office will be in even greater demand, but home offices will never completely replace the office workstation. We are convinced that the social aspect and personal interaction are crucial for innovation and productivity in companies. Therefore, we will continue to see demand for high-quality office spaces with benefits. In the medium to long term, there may of course be changes in the space requirements of individual tenants. Again, it is very important to focus on the needs of the customer: flexibility and community play a central role here.

This includes flexible rental space, for example. We’re already relying on this as part of the myhive concept. Large areas can be rented on a long-term basis and small areas can be added or disposed of at short notice as desired. In addition, we will have a membership service with monthly rates covering all services, including short-term booking of meeting rooms. We thus offer a mix of high-quality co-working space with the advantages of a modern headquarters, such as generous space, all-inclusive service, and excellent infrastructure.

 

How are you adapting your VIVO! shopping centre network to the ongoing health crisis?

The safety of all our visitors and employees in our shopping centres is a top priority.

In all VIVO! shopping centers in the country (Pitesti, Constanta, Cluj-Napoca, and Baia Mare), the cleaning staff is always working to sanitise and disinfect all common spaces (halls, toilets, elevators, locks, handles, tables in the food court area). We carry out disinfection by nebulisation with broad-spectrum biocides, both in common areas as well as through the ventilation system. We have disabled air recirculation in our centres to bring in 100 percent fresh air. We communicate safety shopping measures and instructions for proper hand washing and sanitisation across our centres on audio, digital, and print media.

We have installed hand sanitiser dispensers at entrances and close to toilets and restaurants. We have established one-way traffic in corridors to maintain the required 2-metre distance between visitors. In addition, we work closely with every shop and restaurant to ensure safety.

 

Are Romanians excited to resume shopping in large stores?

VIVO! shopping centres in Romania are operating with an average occupancy rate of 98 percent. The average footfall is recovering, as customers want to resume their usual activities.

The pandemic has had a significant impact on purchasing behaviour and at least for a while, customers will continue to go shopping with specific goals in mind. Time spent in stores decreases as protective and preventive measures come first.

 

Is IMMOFINANZ planning to buy or sell any real estate assets in Romania this year?

On the one hand, we are rolling out our myhive brand to additional office buildings – myhive IRIDE | eighteen and myhive IRIDE | nineteen – soon to be re-opened under the new brand. However, we are always open to new investment opportunities.

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