London-headquartered Knight Frank has officially extended its global coverage to Romania.

Amid forecasts that the Romanian economy will grow another 2.8 per cent this year, global property consultancy Knight Frank has formally launched in Bucharest.

The expansion comes as the consultancy's Bucharest-based real estate partner, The Advisers, becomes a fully branded Knight Frank business. 

Knight Frank has been working with The Advisers in the Romanian commercial property market for the past six years. The local firm, which will continue to be led by Horatiu Florescu, will now officially take the Knight Frank name. 

Its team specialises in office, capital markets, retail, industrial and land advisory services, as well as valuation. The new business will cover all property sectors, adding Corporate Residential to its range of service lines.

“After six successful years together, we are delighted to officially become Knight Frank Romania, and look forward to expanding our presence and success in the local real estate market, under the leadership of Horatiu Florescu – an exceptional professional with outstanding results. We are confident the Knight Frank brand will continue to flourish in Romania,” said Knight Frank's managing director of Europe, Chris Bell.

In a market outlook report for the second quarter of 2015, Knight Frank identified 2014 as the most successful year the Romanian investment market has seen since the global crisis. According to the report, total investment levels here reached €1.15 billion ($1.3 billion), spurred on by rising demand for office space in Bucharest. And 2015 is expected to follow suit.

“This exciting direction comes both as the recognition of our office as a local powerhouse and as a sign of confidence of a global leader in the Romanian market,” added Florescu.