Romania’s COS opens 1.6 mln euro R&D workspace in Bucharest

Masia, the new 2,000 sq m facility, is designed to function both as a serviced space for tenants and as a testing space for customers’ future work setups, COS said in a press release.

“Today, we are confident that resilient businesses rely on the ability to adapt spaces to accommodate team dynamics, facilitate diverse setups such as collaborative environments and hybrid workspaces, and create multifunctional spaces capable of seamlessly accommodating physical, technological and social changes,” Christophe Weller, COS founder and CEO, said.

The new venue is designed to be flexible, mobile and adaptable, while its testing feature allows customers to pilot various ways of working before applying them in their own spaces.

COS has grossed a turnover of 28 million euro in 2022 and its serviced offices portfolio comprising its first owned space in Cluj, Stables, and the new Masia venue, is estimated to generate 0.6 million euro in annual revenue.

The local fit-out market has strong potential, as Romania continues to develop and attract investors, with COS focusing on generating added value through R&D while fostering process efficiency through digitalisation and tech infusion, Cezar Scarlat, Managing Partner and co-founder of Sarmis Capital, COS’ majority shareholder, said.

So far, COS has signed 19,000 projects for 2,700 customers. The company has been focusing on the local fit-out market for 25 years, generating a cumulated revenue of 345 million euro and expanding its expertise by investing in its own portfolio of spaces, which currently reaches 4,200 sq m in its four locations in Cluj, Bucharest, Timisoara and Iasi.

($=0.9254 euro)