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Siemens Energy signs a lease for 7,500 square meters of office space at One Cotroceni Park Office Phase 2

One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces a large-scale project for One Cotroceni Park Office Phase 2.

Siemens Energy, one of the world’s leading energy technology companies, signs a lease of 7,500 square meters. The lease of the space is due for a period of 10 years, and the transaction was brokered by JLL Romania.

With its portfolio of products, solutions, and services, Siemens Energy covers the entire energy value chain – from power generation and transmission to storage and new energy business fields, like hydrogen. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world.

This is a collaboration between two companies that are guided by the same values, as One United Properties is a promoter of sustainable construction practices for energy-efficient, sustainable, and healthy buildings. One Cotroceni Park benefits from LEED Platinum v4 pre-certification, which attests to its sustainable operation and minimum environmental impact, and is in the process of obtaining the WELL Health and Safety certification, which assesses health and well-being at work, offering sustainable commercial and office spaces.

“Siemens Energy’s interest in One Cotroceni Park Office Phase 2 is a good signal for the Romanian market, which is becoming increasingly attractive for large international companies looking for modern and sustainable commercial and office locations. At the same time, it represents a collaboration with a partner with whom we share the same values about sustainability, at a very good moment, when Romania is launching a new wave of investments in green energy. We are glad that our landmark development will host Siemens Energy, one of the world’s leading energy technology companies, and thus contribute to the creation of a new commercial hub and office on the map of Bucharest, which will generate a substantial number of jobs with a direct positive impact on local economic growth”, says Mihai Păduroiu, CEO Office Division One United Properties.

“Siemens Energy has been an independent, listed company since 2020. As a company, we are shaping the energy transition and using our technology and partnerships to bring reliable, affordable, and secure energy to the world. Romania is moving forward with its energy transition to create a low carbon grid and reach net-zero targets by 2050. Romania aims to increase national use of renewable energy sources like wind, solar, and hydrogen to 30.7% by 2030 and over time plans to reduce reliance on carbon-emitting oil and gas. Romania is an attractive market for Siemens Energy and this expansion of Siemens Energy in Romania will bring benefits to the local economy through job creation and supply chain opportunities”, says Antonia-Denisa Efron, Siemens Energy Romania Representative.

“The new hub of Siemens Energy in Romania will be a reference for the green energy industry and highlights our country on the map of specialized and high-quality service providers in the region. We are pleased to have assisted our client, Siemens Energy, in the process of identifying the best options and selecting the project that will host the new hub in the current market conditions, where investors aim for high flexibility in order to dynamically adapt to the new business reality. The fact that our country has been selected for such an investment is gratifying and indicates Romania’s attractiveness due to the skills developed by the local workforce in recent years, increasingly sought after by top global employers. The net take-up of office space recorded in the first quarter of 2021 amounted to 60% of total traded space. An important part of the net take-up indicator is represented by new companies entering the market, such as the Siemens Energy hub, which will not be the only new entry reported in the Q2 net take-up, nor the last of 2022”, says Alexandru Orzea, Consultant Tenant Representation JLL Romania.

One Cotroceni Park is shaping up as the most ambitious urban regeneration project in the city and is developed on the site of the former Ventilatorul platform, on an area of 5.8 hectares. It is strategically positioned in one of the most highly regarded residential areas and the most dynamic business hub currently developing in Bucharest. At the beginning of this year, the developer One United Properties has already marked the handover for Phase 1 of One Cotroceni Park, an office and commercial building, with a gross leasable area (GLA) of 46,000 sqm. Phase 2 with a gross leasable area of 35,000 sqm, also under development, will be delivered in 2022.

Once completed, the multifunctional development of One Cotroceni Park will give back to the city an untapped area, with multiple benefits for the entire community. This unique real estate concept is shaping up as a true city within a city, composed of a residential area with 868 apartments, a business park with two office buildings, and a commercial area that will provide access to a wide range of integrated services and facilities: green spaces, restaurants, running and cycling tracks, cafes, gym, swimming pool, pharmacy, cleaning services, cinema, educational facilities.

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