DOINGBUSINESS.RO

  |  2013-08-01

CBRE Romania: Best post crisis year for the office market

The total area of offices traded in the capital is expected to reach 240,000 to 260,000 square meters by the end of this year, the highest level in five years, according to CBRE report on the office market in Bucharest in Q2 2013. Compared to 2012, the increase is 10%

Razvan Iorgu - General Manager CBRE Romania

The trading activity registered in the second quarter of 2013 in Bucharest included 68,800 square meters, up 13% from the previous quarter.

The modern office stock reached 2.23 million square meters, after the delivery of two buildings in April-June: CSDA Siriului, with an area of ​​3,600 sqm and 100% occupied, and Armand Calinescu, with an area of ​​3,500 square meters and a occupancy rate of 70%. By the end of the year will be delivered another 55,800 square meters, consisting of three new office buildings, and other 30,500 square meters, following two conversions. The most important projects that will be completed in the next period are Floreasca Park, developed by Portland Trust, and City Offices, as a result of City Mall conversion.

 

"For 2014 there are only 48,700 sqm in construction, which would be the lowest level of deliveries from 2000 to present. Also, another 25,100 sqm under construction are due for delivery in the first quarter of 2015, the most notable being the first phase of the building Green Court Bucharest, developed by Skanska. Of the total area of office buildings in construction, 30% is located in the west of the capital, " said Razvan Iorgu, General Manager CBRE Romania.

 

Please find more information in the Romanian version of the article, here.

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