REALTY Forum 2021 | Andreea Cotiga, IMMOFINANZ: It is important to redefine the standards of the Romanian office market and the myhive concept is one way to do it

Aurel Constantin 17/08/2021 | 14:20

The first half of the year was very fruitful for IMMOFINANZ, as the company managed to secure up to 30,000 square meters of offices, which is also a positive signal for the entire market, not only for the company, said Andreea Cotiga, Senior Leasing Manager at IMMOFINANZ, during Business Review’s Realty Forum.


All the transactions made by the company were important, with the same resources allocated. One that is worth mentioning is the acquisition of Bucharest Financial Plaza from BCR, a building located in a premium area, in the Old Center of Bucharest, for a value of approximately EUR 36 million.

”For us, this transaction is important in terms of consolidating the premium office portfolio and the myhive concept, and for this property we propose a significant renovation and a transformation into a modern office building that offers space for quality offices. A sustainable building adapted to our new myhive office concept. In fact, we intend to turn it into an emblematic myhive property not only for our portfolio but also for the community, this is why we intend to increase the public space, to have green terraces,” said Andreea Cotiga.

She also mentioned the long-term lease signed with Provita Group in April. Provita will occupy 11,000 sqm in the fully renovated Iride 18 building, inside Iride Park, and will open at the beginning of 2022 a multidisciplinary hospital with a large capacity of 110 beds and 7 operating rooms. ”It was an important step because we managed to be pioneers in diversifying the mix in the Dimitrie Pompeiu area and what we are most happy about is that we managed to expand the range of business services for the community there,” explains Cotiga.

Diversification is important for the myhive concept, but IMMOFINANZ will not leave the traditional lease area. ”We will continue to offer high-quality office space with private access and infrastructure under the name of myoffice if they are located in myhive but in addition, we will be able to offer premium flexible offices, with an inspirational design, under the umbrella of mycowork products,” continues Andreea Cotiga.

myhive is a concept that redefines the standards of the local office market. myhive buildings are modern buildings with common functionalities, welcoming receptions and generous lobbies. ”Very often, although it is a standardized concept, you have the feeling that you are entering a hotel rather than an office building and in the end, all this contributes to creating experiences and I believe that is a trend that will continue. In every country we go to, we have at least a community manager who coordinates projects dedicated to the community members (meaning all the employees working in the respective properties), from after-work events to sports hours, sports classes, or workshops with various themes.”


IMMOFINANZ is already offering flexible and customized solutions for clients, a product that brings an upgrade to the myhive concept

”Through this product we will be able to rent office space for short or long term. They will be able to benefit from all-inclusive rental options. Our tenants will be able to use all the myhive locations in Bucharest, where we will have such a product available or they could reduce or expand their surfaces, according to their needs. This product has been already successfully implemented in Vienna and Warsaw, which are obviously more mature and educated markets in terms of renting office space. Currently, we are preparing to implement it in our myhive properties in Bucharest and other cities where the IMMOFINANZ group is present. And even if this is a product which is very suitable for the current market circumstances, it was not generated by the pandemic. Actually, we started working on it since 2019, however, the pandemic only accelerated its implementation at group level,” concludes Andreea Cotiga.

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