MARKET PULSE REPORT - JUNE 2020
BUSINESS COMPETITIVE EDGE IN CHALLENGING MARKET CYCLES Market players respond and adapt differently in the current crisis situation, but all seek a competitive edge by reevaluating their strategies and core purpose, finding different means to incentivize and explore their creativity and innovative skills. Below are some perspectives on market changes from one of the largest real estate developers in Timisoara, Western Romania, Vox Property Group, led by Virgil Tornoreanu.
We have adapted measures included in a comprehensive campaign for the return of our tenants in Vox Technology Park office building. We have purchased two thermal body scanners, installed in each of the lobby entrances, measuring employees and visitors’ temperature through an automated method, both entering and exiting the building. This safety measure will also lead to savings for the tenants, both financially and in time, which will no longer need to individually measure the temperature of employees and visitors. Amongst the measures, we will disinfect the HVAC system and will install cleaning and air filtrations devices (nebulizers) in conference rooms. We are constantly disinfecting all surfaces, have installed antiseptic rugs and nano-septic foils for the protections of bars and handles and have placed disinfectant dispensers in all common areas. All the traffic circuits within the building have been redesigned. The employees and visitors will thus enter and exit the office spaces and the building through different access ways. Distancing measures have been implemented also regarding the elevator access, restricting it to two persons, instead of full capacity. All visitors will be handed face masks and gloves. Our goal is not only to ensure the safety of our tenants, but also to provide useful precautionary measures during this period. Even if they may seem complicated at this point, we must all get used to these measures in the following period, without becoming hyper-protective. These are the best measures we can take for the safety of our tenants and employees, including our own – all our offices are in the same building. We’ve been innovating since the design of the building and we will continue to do so, constantly improving the office of the future.
The status of current projects and investments Our current project is the residential building, Vox Vertical Village. This
project is ongoing, as planned, even if the pandemic situation has forced us to adapt the construction rhythm according to the pace of the emergency situation. Moreover, we are not downgrading the project quality in order to save costs. Up to this point,
the prices are unchanged and as Vox Vertical Village has its unique characteristics, we are confident that even in case of a fluctuation of the residential market, the products’ high quality will represent a durable and safe investment, with considerable 55