By the end of the closure of the print edition, officials of the Austrian company did not wish to offer details about the situation of rental contracts for the office building. Maria Florea, Senior Broker of Colliers International, believes that a developer in S+B’s situation must substantially reduce rents, resort to short-term rentals, offer facilities to potential tenants, with the most important being an offer to cover the costs for space arrangement.
“Considering the uncertainty on the market, developers come to meet the needs of the clients who want to rent for less than five years,” Florea added. However, in the case of Pipera Business Tower, the rental contract is for five years and the space arrangement is fully paid by the tenant, sources told Business Standard.
