Vastint is expanding its approach beyond traditional office leasing, developing flexible event facilities and new culinary and cultural destinations to strengthen business communities, Maria Badea, Senior Leasing Manager at Vastint Romania, said at the People Empowering Business Forum, organised by The Diplomat-Bucharest.
The changing expectations of companies and employees are reshaping the office real estate market, pushing developers to rethink both the configuration of workspaces and the services offered to tenants, according to Maria Badea.
She explained that the shift towards more flexible working arrangements following the pandemic has significantly changed the way companies approach office leasing.
“Today, the real estate sector is all about adaptation. Before the pandemic, companies would often lease office space in anticipation of organic growth, signing long-term contracts. After the pandemic, things changed radically. The size of the space and the way it is configured have become extremely important considerations in the search for a new office,” she said.
In response to these changing needs, Vastint Romania has introduced new concepts within its Timpuri Noi Square office development in Bucharest, seeking to provide tenants with additional facilities and experiences beyond conventional office space.
The Venue: a flexible conference and events space
One of the company’s latest initiatives is The Venue, a versatile conference and events facility launched this year at Timpuri Noi Square. The space can accommodate a wide range of formats, from small board meetings to conferences involving up to 350 participants.
“We launched a unique product within our office portfolio at Timpuri Noi Square this year, called The Venue. It is a highly versatile conference space that can accommodate everything from small board meetings to conferences for up to 350 people,” Badea explained.
She said the decision to develop the facility was driven by the needs identified among the company’s existing tenants rather than by the availability of unused space.
“We did not create it simply because we had an empty space. We realised that all the clients in our portfolio had this need, so we reorganised our approach to events and developed a solution that could support them.”
The company is also considering replicating the concept in other developments.
New Tales: a 5,000-sq-metre culinary and cultural destination
Another project planned for the Timpuri Noi area is New Tales, a new culinary and cultural experience centre covering more than 5,000 square metres, which Vastint Romania plans to open next year.
The concept emerged from the company’s observations of how the neighbourhood has evolved following the arrival of office developments.
“As office buildings appeared, the entire Nerva Traian area began to transform. Small businesses emerged and developed, while the area’s infrastructure and accessibility made it easier for people to commute to work,” Badea said.
She added that Vastint identified an opportunity to create another destination that would encourage people to spend more time in the neighbourhood beyond their working hours.
“We felt there was a need for another attraction that would keep people in the area beyond working hours. That is how New Tales came about. It will be a culinary and cultural experience centre of more than 5,000 square metres, where different stories and experiences will unfold.”
The concept is designed to offer activities throughout the day, creating opportunities for social interaction and professional networking.
“You might start your day with breakfast and end it with a conversation in the evening, either with colleagues or with other business partners from the building,” she explained.
From tenants to business partners and communities
For Vastint Romania, these initiatives reflect a broader transformation in the way the company approaches office development and its relationship with tenants.
Badea said the focus is increasingly shifting from providing office space towards creating environments that support professional relationships, social interaction and stronger communities.
“We have transformed many aspects of our projects with the aim of responding more closely to our partners’ needs. Our tenants are not just tenants; they are partners. Together, we can build business relationships, communities and personal connections.”
Through The Venue and the upcoming New Tales project, Vastint Romania aims to expand the role of its developments beyond traditional workplaces, responding to the changing expectations of companies and employees while contributing to the evolution of the Timpuri Noi business district.