Software manufacturer Oracle, one of the largest tenants on the office market, has closed its office spanning nine floors in the Skytower Building in Bucharest, according to a decision published in the Official Gazette and quoted by Profit.ro. The office space rented in Romania thus shrinks by 19% upon the non-renewal of the contract for the nine storeys.

The company has approved the closure of the Skytower Building work point on floors 23, 24, 25, 26, 27, 28, 29, 30, and 31.

According to previous data, 2024 was the year the lease was due to expire.

The contract for the 10,400 square meters was renewed in 2016 and is set to expire in 2024, sources from the real estate market told Profit.ro at the end of 2020. A termination of this contract means a reduction of about 19% of the space contracted by Oracle in Bucharest, it was revealed at the time.

iulian@romania-insider.com

(Photo source: Inquam Photos/Octav Ganea)