COS, the pioneer of the Romanian fit-out market, continues its national development strategy and announces the premiere launch of a Research & Development (R&D) workspace Centre in the Northern area of Bucharest, following a €1.6 million investment. MASIA, the new 2.000 sqm space, is designed to function both as a serviced space for tenants and as a test space for customers` future work setups.
The launch marks 25 years of activity for COS, which was one of the first players in the local fit-out market, having contributed significantly to the development of this sector in Romania. In recent years, COS has expanded its expertise by investing in its own spaces portfolio, which currently reaches a total of 4,200 sqm in all its 4 locations in Cluj, Bucharest, Timișoara and Iași.
The new MASIA proposes a revolutionary approach to shared workspaces, as it also includes a testing feature where customers can pilot various ways of working before applying them in their own spaces. MASIA also embodies COS` TrueFlex design concept, a refined approach that encompasses 3 key elements: flexibility, mobility, and adaptability. COS stands out as a pioneering player in the workspace market to promote a fully human-centred design, focusing on people`s well-being through interior design, which has been directly linked with employees’ performance.
”Recent developments have highlighted the undeniable significance of flexibility in the evolving business landscape. Over the years, we have conducted comprehensive studies on the direct impact of physical spaces on business performance and decided to make strategic investments in shared spaces, collaborating closely with our customers to understand their unique requirements and explore innovative work methodologies. 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,” says Christophe Weller, COS founder and CEO.
With COS business having grossed a total of €28 million turnover in 2022, COS`s serviced offices portfolio is estimated to reach 0,6 million EUR annual revenue. COS`s first owned space was Stables in Cluj, which works primarily as a services office space for renting, with the newly launched MASIA being the second one.
“The local fit-out market holds strong potential, as Romania continues to attract investors and develop. But innovation is essential in maintaining COS`s competitive edge and market leadership. This is why we strongly believe in generating added value through research and development and fostering process efficiency through digitalization and tech infusion”, says Cezar Scarlat, Managing Partner and co-founder of SARMIS Capital, COS` majority shareholder.
According to experts at COS, the current average investment in interior design and build space ranges from €500 to €800 per sqm. For premium projects, the investment surpasses €800 EUR per sqm. With the one-stop-shop trend having evolved in Romania and clients preferring to work with integrator companies, COS has been the first design & build company on the local market, offering complete consultancy, interior construction, design and furniture solutions.
