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November 29, 2022

SkyTower: Balance sheet in the 10th year of activity

Karl-Maria Pfeffer, RPHI: SkyTower, a decade of success  and a key asset for the business community   

SkyTower, the tallest office building in Romania, owned and managed by Raiffeisen Property Holding International (RPHI), reaches almost 100% occupancy rate and accomplishes ten years of successful activity on the local market.

Inaugurated in 2012, SkyTower has become the iconic landmark of the local office market and one of the main growth drivers of the northern business centre in Bucharest. Over the years, SkyTower has influenced the rapid development of the office sector in its area and secured a strong business community around this iconic building.

“SkyTower was a bold idea, implemented in a record time. Its innovative, modern, and safe construction attributes have put SkyTower on top of the business community’s preference for top office spaces and headquarters. Flexibility, sustainability, constant care for our tenants’ needs and unique high-tech features have been our focus during the last 10 years. Thus, we have become an iconic building not only for Bucharest, but for the entire country. Our capacity to transform, adapt, invest, and continuously improve has been crucial in becoming Romania’s most iconic office building and we will do everything for SkyTower to remain an icon. Our way forward is committed to be most responsive to the office market’s dynamics and tenants’ changing needs,” said Karl-Maria Pfeffer, CEO, RPHI.

In terms of office market trends, the RPHI official sees premium buildings fuelling market demand in the next period, with companies eyeing high technical standards, quality, and comfort. While the new market context will dictate higher rents, local offices will continue their transformation into social hubs, with companies shifting the focus from prices to quality.

“What would have happened eventually anyway, happened faster due to the pandemic context. The transformation of offices and workspaces in relaxing, social centres is a here-to-stay, long-term market trend. Also, sustainable, safety certified Class A office buildings will be the focus in the upcoming decade. This will be a strict, very important decision criteria for choosing an office building: SkyTower has all these relevant certifications,” added Pfeffer.

The SkyTower building has over 2,000 residents in a total leasable area of 40,450 square metres, with an average distribution of 1,157.70 leasable square metres per floor. Tenants cover various industries from IT, Energy, Banking, Pharma and Insurance to Beauty and Interior Design.

RPHI is committed to continuing its investment plans in Romania, with focus on current office building portfolio development (SkyTower and FCC Office Building).

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