Dynamism taking over the North-Western office market in Romania: 70% of COS's shared offices & coworking space business comes from Stables Cluj, up 14% yoy
<ul>
	<li><strong>Stables space in Cluj, owned by COS, generated revenues of EUR 423,000 in 2023, accounting for 70% of the total COS shared offices and coworking business.&nbsp; </strong></li>
	<li><strong>Stables' occupancy rate was 95% last year, up by 15 percentage points compared to the previous year. &nbsp;</strong></li>
	<li><strong>75% of the demand for shared offices and coworking office comes from well-established companies or big corporations, not from freelance activity. </strong></li>
	<li><strong>The significant volume of demand for shared offices and coworking space is correlated with the dynamics of technology and start-ups. 70% of COS clients in this segment come from these sectors.</strong></li>
</ul>

<p>COS, one of the leading providers of integrated fit-out services and a pioneer in this segment in Romania, reports revenues of over half a million (0.6 million) EUR from the rental of owned shared offices and coworking office spaces alone, on the back of accelerated growth in the segment. &nbsp;70% of the total revenue on the shared offices and coworking office space segment comes from Stables, COS’s space in Cluj-Napoca.</p>

<p>Stables is a nearly 1,000 sqm space launched by COS in 2020, spanning 2 floors of a 200 year old building, which was turned from a production facility to a modern office space, following a 750,000 EUR investment. The space’s capacity is 86 seats in private offices, 16 dedicated desk and 20 hot desks, a common area and networking space, 5 meeting rooms and a conference area. Stables serves as headquarter and showroom of COS in the North-Western part of the country, catering for its main design and build services.&nbsp; &nbsp;</p>

<p>COS reported a 95% occupancy level for Stables at the end of 2023, up by 15 percentage points from the same period in 2022. On average, around 95% of the customers consider that the design positively impacts their productivity and creativity, they value the comfort and ergonomics of the space and appreciate Stables as a trusted partner.</p>

<p>Contrary to market preconceptions that the shared offices and coworking office space area in Cluj is mainly for freelancers - and not companies, 75% of Stables' revenue comes from well-established companies or large corporations.</p>

<blockquote>
<p>“In only 4 years of activity in Cluj, we managed to establish Stables brand as a reference when it comes to the shared offices and coworking space activity. A clear differentiator for Stables on the market is the care we offer to our clients, beyond the services, the vibrant design and the community spirit nurtured by the space. Based on COS` 26 years of solid design and business expertise in Romania, pioneering this new quality shared offices and coworking spaces segment is a natural step forward for us." says <strong>Marius Marza, COS National Sales Director and Stables Managing Partner</strong>.</p>
</blockquote>

<p>According to COS internal data, the growing demand for coworking offices is correlated with the constant increase in the tech industry and start-ups, as early-stage businesses prefer to move towards shared offices and coworking areas, from where they can grow their business.&nbsp;</p>

<p>In 2023, out of Stables’ current portfolio of clients, 70% come from the start-up and tech industry.&nbsp; Stables` extended portfolio includes clients from sectors such as the information technology (IT), transportations, legal services, intelligent infrastructure, creative services, marketing, e-commerce, architecture, banking and real estate. Stables' clients portfolio includes Datacor, Kinaxis, ComputaCenter, BNP Paribas, Picsart, Speedwell, Evo Marketing, Studio Contextual, ICG and others.</p>

<p>Launched in 2020, Stables offers a premium coworking environment tailored for entrepreneurs and multinational businesses, event space for the community and a showroom for COS’ design &amp; build projects. Currently, the number of clients' employees that use the space is above 150 persons in a hybrid mode, with an average of around 75 people coming to the office every day.&nbsp; Stables` accomodates a total capacity of 122 seats in its 1,000 sqm interior space.</p>

<p>&nbsp;According to COS internal data, the total coworking area in Cluj doubled in size, in the last 2 years and follows the global growth trends. Although the market currently does not evolve at the same pace as in the past, it is still growing faster than other components of the office market, COS specialists appreciate.</p>

<blockquote>
<p>“This data shows the growth potential of the segment and we continue to focus on developing a diverse coworking community, engaging events, as well as our design &amp; build projects.” ads <strong>Marius Marza</strong>.</p>
</blockquote>

<p>Active on the local market since 1998, COS [Corporate Office Solutions] is one of the largest suppliers of complete interior design solutions in Romania and operates across the full spectrum of relevant market segments: office, industrial (interiors in logistics parks and industrial facilities), hospitality (hotels, restaurants), healthcare (interiors for clinics and hospitals) and educational (private and public schools). COS currently has 4 national offices, 2 of which are dedicated to coworking and serviced &nbsp;offices rental segment, MASIA (Bucharest) and Stables (Cluj). COS portfolio reaches a total volume of over 2,850 clients and over 20,000 projects. COS has strong and long-standing partnerships in Romania with suppliers such as Steelcase and Interface, international leaders in the furniture and flooring solutions segments, as well as with local manufacturers.</p>

<p>The majority shareholder of COS is the investment fund SARMIS Capital.</p>

<p><em>* This is a press release.</em></p>