The giant SCOR Romania occupies an area of 2,320 sq m in Business Garden Bucharest!
The giant SCOR has launched a large hiring campaign in Romania and is opening the first CONFIRMAR office
The French company SCOR, one of the largest reinsurers in the world, confirms that it is consolidating its presence in Romania by developing a strategic office in the capital and launching a large-scale hiring process of over 300 people in the Property & Casualty, finance, technology, data, operations and auxiliary functions sectors.
SCOR Bucharest aims to hire over 300 people by the end of 2026, of which 100 in the financial sector, 150 in technology and data, approximately 45 in the Property & Casualty area and 20 colleagues in the operations sector. As announced by Profit.ro, the recruitment process to strengthen the SCOR Bucharest team has already started. SCOR Bucharest joins the over 35 SCOR offices internationally. Together with 3,600 SCOR employees worldwide, the SCOR Bucharest team will contribute to serving clients in over 150 countries.
The group generated insurance premiums of 20.1 billion euros in 2024 and serves clients in over 150 countries, through its more than 35 offices worldwide. It also confirms that it has chosen Business Garden Bucharest, developed by Vastint Romania, part of VASTINT Group, for its first office in Romania, where it occupies an area of 2,320 square meters. The French company SCOR, one of the world's largest reinsurers, will open its Bucharest office in one of the office buildings owned by Vastint, with common shareholders with those of furniture retailer IKEA. This is one of the largest leasing transactions in the office segment since the beginning of 2026. For comparison, the largest transaction with new leased space in 2025 was 7,000 square meters, concluded by Procter & Gamble in Yunity Park.
The French are to open a strategic transformation office in Bucharest, connected to SCOR's international network. In Bucharest, it will consolidate activities in the areas of Tech & Data, Finance and reinsurance operations. SCOR Bucharest joins the over 37 SCOR offices internationally. The local office will be coordinated by Andrei Romanescu from the position of general manager of SCOR Bucharest. Profit.ro announced last year that SCOR is preparing to enter Romania directly, and more recently it has started a large recruitment campaign, offering positions such as General Accountant, Security Governance Analyst, PMO Expert and Record Keeping Officer.
Real estate developer Vastint is currently constructing two 60,000 square meter office buildings on the site of the former Timpuri Noi factory in Bucharest. The delivery of these buildings is scheduled for the end of 2026. The new buildings will double the available office space in Timpuri Noi Square, where 3 fully leased buildings already operate. The rent charged for this project is between 18 and 21 euros/square meter/month, depending on the signing date, aligned with the market level, according to previous statements by Vastint officials.
SCOR was created in 1970 with the support of the French government, and its original name was Société Commerciale de Réassurance, hence its current name. Today, the company has invested assets worth 24.2 billion euros, 3,621 employees of 65 nationalities and 5,000 clients in its 37 offices around the world. Among SCOR's most important shareholders is the Crédit Mutuel group, one of the largest banking groups in France, with over 30 million clients. New offices In 2026, companies prioritize space efficiency, strategic locations and buildings that comply with the latest modern and sustainability specifications, according to an analysis by real estate consultancy CBRE. Similar to core European markets, the fundamentals of the Bucharest office market strengthened in 2025, driven by resilient acquisition levels and a first year with zero new deliveries. Total leasing activity reached 280,000 sq m, down 27% year-on-year, largely reflecting lower development volumes, limited central availability and anticipated transactions from previous years, rather than a weakening of occupier demand. The total area of 166,000 sq m confirms a stable base of net demand, supported by new leases, relocations and expansions. Demand was led by the financial, IT, manufacturing and energy sectors; leasing activity was concentrated in the Floreasca-Barbu Văcărescu and Piața Victoriei areas, the central and western areas of the capital.
The vacancy rate has further decreased in the central areas reaching historically low levels of around 4%, while the city-wide vacancy rate stood at 11.1% at the end of the year. Given the limited increase in the supply of unleased spaces and similar levels of expected demand, the overall vacancy rate is likely to continue its downward trend, with the potential to reach a single-digit value. “The first year without deliveries of modern offices in Bucharest led to the vacancy rate falling below 5% both in central locations and in Floreasca – Barbu Văcărescu. The constant demand we have for quality buildings, well positioned and with easy access to the metro has strengthened the confidence of developers, and currently over 200,000 sqm of offices are being built in Bucharest”, noted Tudor Ionescu, Head of Leasing Office, CBRE Romania.
Source: www.Profit.ro
