Vastint Romania’s plans for short and mid term

Antoniu Panait, our Managing Director, gave an interview to Business Review about the company’s plans on the office segment for short and medium term.

Has the pandemic period impacted your future development plans in Bucharest?

The global pandemic that started over a year ago has had an impact on the entire global economy and on every single industry, generating issues in terms of planning and executing any type of project. We have faced the same types of challenges as everyone else as a result of the restrictions. Things are nevertheless moving forward, albeit at slower pace than we had anticipated. We are confident that the situation will soon improve and that this whole period and its effects will be overcome.

Considering our long-term commitment regarding both ongoing and future projects, our plans in Bucharest remain on track, progressing at a normal pace, and our general technical specifications (healthy air conditioning, 100 percent fresh air supply, openable windows) are proving even more fitting now considering tenants’ needs and expectations.

What does your development pipeline look like for 2021 and 2022?

We aim to continue with all the projects in our pipeline, which are currently in different stages of development. All future decisions will depend on market conditions, demand levels, and the feasibility of each project.

Is the emerging hybrid work system changing your investment plans for the office sector?

As I mentioned before, the lack of predictability in how companies will decide to function in the future does not detract from the general importance of office spaces. Having in mind the limited amount of information that we currently have regarding the impact of this hybrid working model on the wellbeing of employees and how it will impact productivity in specific industries, it’s difficult to forecast future demand and this phenomenon’s future effects on the office market. Nevertheless, there will certainly always be a need for office spaces and we will continue to focus on maintaining a high technical standard and overall quality in our projects, because this shall always be important for any office user, and so will the location.

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