Jones Lang LaSalle opens office in Bucharest, Romania

Jones Lang LaSalle has announced that it has opened a new office in the Romanian capital, Bucharest. Charles Krick has relocated from Jones Lang LaSalle in Budapest to lead the Bucharest team which will offer investment advice, office and retail leasing services and high quality market research. The office in Bucharest will be an extension of the firm's office in Budapest under the leadership of Thierry Delvaux as Managing Director.

Alastair Hughes, Jones Lang LaSalle's CEO EMEA at commented: “We have already been working extensively in Romania which, having joined the EU on 1 January continues to attract increasing levels of international developer and investor interest. As a result, the investment market has witnessed rapid yield compression. With a market leading investment advisory business in the CEE region, we view Romania as the logical next step and the growth of our investment business was ultimately the trigger for Jones Lang LaSalle to open in Romania.”

Bucharest is Jones Lang LaSalle's seventh office opening in the last 12 months; the others include Dubai, Rome, London Heathrow, Zaragoza in Spain, Kiev in the Ukraine and Almaty in Kazakhstan.

A new Jones Lang LaSalle World Winning Cities report to be released shortly examines Bucharest from an economic, demographic and business perspective and analyses on Bucharest's real estate market which is developing rapidly. Pre-EU accession excitement has paved the way for an increase in real estate capital values over the last three years. Moreover, Bucharest's favourable economic growth prognosis, combined with the structural reforms associated with EU accession, point to rapid market evolution over the next five years. The market is poised for growth in both demand and supply across all market sectors, supported by rapidly improving real estate maturity and transparency.

Jones Lang LaSalle