MassMutual enters Romanian market by opening a Global Business Service Center in Bucharest

MassMutual has chosen Orhideea Towers in Bucharest for their Global Business Service Center, signing a lease agreement for 1,300 sqm on the top floor. Including the MassMutual lease, the office building, which has been developed by CA Immo and was completed in 2018, has an occupancy rate of 91 percent. The company was assisted by the real estate consultancy company Griffes.

MassMutual is a leading mutual life insurance company with headquarters in the US. Starting in 2020, the company will be performing in Romania the software developing and technology-related activities of the group. With this move, they will gain access to a great talent pool in an upcoming world-class technology hub. The insurer plans to recruit at least 100 people this year, especially tech-savvy professionals.

MassMutual offices will be hosted on the 15^th floor in Orhideea Towers, the top floor offering a great panoramic view and excellent visibility. Also, the building has a great location in the new Centre-West business hub, across the street from Grozavesti metro station and close to the Polytechnic University Campus.

As a new property of CA Immo, Orhideea Towers was built according to the developer’s highest quality standards, in terms of design, technical specifications and sustainability criteria.

Marian Roman, Managing Director of CA IMMO Real Estate Management Romania, commented: “We are honoured that MassMutual selected Orhideea Towers to complement their strategic move. The property will offer MassMutual employees an ideal work environment, including amenities and technological infrastructure, to support business development and growth of their team.”

MassMutual appointed Griffes to offer them extensive company set-up services, the real estate consultant coordinating the entire process from site selection, real estate advisory, negotiation of the contract and project management of the fit-out of the new office.

“As a 100 percent Romanian company, we are particularly proud of the partnership between Griffes and CA Immo, as we were able to support the set-up of MassMutual in Romania, a giant insurance company that we guided throughout the process and mostly to the decision to choose Romania against other countries. The opening of the Global Business Service Centre is a solid foreign investment and a vote of trust for the Romanian market, in a period when such statements are very scarce, hence more precious,” said Andreea Paun, Managing Partner Griffes.