Endava Romania renews lease at UBC Cluj-Napoca in major office market deal

British software services company Endava has renewed its lease for another five years at the United Business Center (UBC) building, part of the Iulius Mall Cluj development. The transaction, brokered by real estate consultancy firm Colliers, involves 4,300 square meters of office space, enabling Endava to strengthen its presence in Cluj-Napoca and continue expanding its local team.

This lease renewal is one of the most significant office deals of the year, reflecting a broader trend in the market where many companies are opting for contract renewals amid uncertainties surrounding hybrid working. Endava, a key player in Romania’s IT sector, has been a tenant in the UBC building since 2013, forming a long-term partnership with developer IULIUS, a major real estate operator in Romania.

IULIUS is known for its large-scale, mixed-use urban regeneration projects across Romania, including Iulius Town Timișoara and Palas Iași, as well as its national network of Iulius Mall centers. The company’s portfolio also includes 15 Class A office buildings, and sustainability is a core focus, with its projects LEED® or EDGE certified.

“Endava sought a location that met its needs in terms of quality, location, and services,” said George Didoiu, Director of Tenant Services at Colliers. “After an in-depth market analysis, Endava decided to remain at UBC, cementing its partnership with IULIUS. Cluj-Napoca’s economic growth, which has been remarkable both nationally and across the European Union, adds to its appeal as a business hub.”

Endava’s decision to renew highlights the demand for high-quality office spaces in Cluj, Romania’s second-largest business center after Bucharest. Cluj has become a base for leading IT companies and is increasingly attracting real estate investors. The deal also reinforces IULIUS’s reputation for offering office spaces that integrate seamlessly with retail and recreational areas.

Silviu Băbțan, Office Buildings Manager at UBC Cluj, emphasized the importance of the continued partnership with Endava: “We are proud that Endava has chosen our offices in all cities where we operate UBC centers—Iași, Cluj-Napoca, and Timișoara. Our ongoing collaboration for another five years confirms the quality and uniqueness of our offices. The integration of workspaces with diverse services, from dining and social facilities to parks and medical services, ensures a high level of satisfaction for employees.”

The renewal reflects broader trends in Romania’s office market. Roughly half of the leases signed in the first half of 2024 were renewals, compared to a pre-pandemic average of 28%. Although hybrid working has led some companies to reduce office space, the feared “office apocalypse” has not materialized.

“Cluj-Napoca’s office market remains stable and mature, with vacancy rates below 3% in premium locations,” added Didoiu. “The city continues to meet the high standards demanded by tenants, maintaining stability in its real estate sector and ensuring that large tenants retain their spaces.”

Endava’s lease renewal signals confidence in both the company’s long-term growth and the strength of Cluj-Napoca’s office market.

Photo: George Didoiu, Director of Tenant Services at Colliers