Where value meets convenience
According to the iO Partners report (October 2024), average office fit-out costs in Romania rose by 10–15%, reaching EUR 850–950/m², including furniture. Still, Romania remains one of the EU’s most cost-effective markets. This reflects a shift in workspace expectations—toward sustainability, ergonomics, and tech for hybrid work. At Zity, we’ve just completed a 1,000 m² fit-out, divided into smaller units (100–350 m²), fully functional and ready to rent. Though second-generation, these offices offer class A quality at class B pricing. They balance comfort, flexibility, and performance, letting businesses adapt spaces to their growth. Whether launching or relocating, our offices offer a smart, budget-friendly start. When space matters, the right setup becomes a real competitive edge.
We expect to close 2024 with low double-digit business growth—a notable achievement considering the context. Operating with the same leasable area, our revenues improved due to stronger anchor tenant performance and rent adjustments in our office segment. Is there room for more? Absolutely. We see clear potential in upgrading our modern office stock and continuing to offer top-tier value in the class B market. We’re also actively seeking a key partner for our next major retail project, for which we’re preserving a prime location and amenities—set for development over the next two years. In parallel, we aim to reimagine our complex starting with the Zorile building, honoring its architectural roots while transforming it into a flagship property with modern technical upgrades. This will unlock its full potential for decades to come.
Zity Office is taking a major step toward sustainability by initiating the LEED (Leadership in Energy and Environmental Design) certification process — a globally recognized standard developed by the U.S. Green Building Council. This certification highlights the Owner's strong commitment to responsible construction, focusing on reduced energy and water use, recyclable materials, better indoor air quality, natural light, and access to sustainable transport. The process will be implemented in phases, with input from international experts. A series of technical analyses and optimizations will align Zity Office with global sustainability standards, reinforcing its position as a forward-thinking, environmentally conscious office project.
Traffic to our properties stabilized at 2.2 million visitors in 2024, remaining flat year-on-year. This was expected, given that some upgrades in February limited access to key stores. We remain cautious about substantial growth in 2025, as macroeconomic conditions—like persistent inflation and modest 3% GDP growth—offer limited support. Still, we believe that progress toward resolving the regional conflict may boost optimism and consumer confidence, potentially reviving emotional shopping. A promising path forward is attracting new retail brands, ideally international ones. We have potential developments in the pipeline and are committed to building strong, long-term, mutually profitable partnerships with global businesses.
On May 3rd, ZityMall’s square came alive with children’s laughter and hurried footsteps. Parents found rare calm — the kind that comes when you’re exactly where you should be. The MeliMi concert gathered hundreds, but it wasn’t about numbers. It was about the joy in a child’s eyes seeing favorite artists live for the first time. About dancing freely, laughing, living a dream — even for a moment. Parents weren’t just watching, they were part of it. The event offered more than a show; it created space for real, meaningful moments. A safe, open setting where even a quiet song or a quick hug mattered. For some kids, it was their first time near a stage; for others, their first autograph. For all — a lasting memory. Maybe the start of a dream. ZityMall hosted the day, but its true value came from the people who gave it meaning — families, friends, children, all coming together.
