2018 Forecasts: Office Demand Will Keep Pace With Deliveries and Could Exceed the Level of 2017 by 25-30%

“We estimate that in 2018 the demand will go side by side with deliveries of new office space and can be even 25-30% higher than in 2017 unless there are significant disturbances in the labor market and whether the IT&C and BPO sectors will not stop growing.

Most future tenants will move to new spaces, in the buildings being delivered “, said Alexandru Petrescu, managing partner at the real estate consulting company Esop Consulting, for the prestigious economic publication Ziarul Financiar, in the material published in the print edition of January 5, 2018.

Most of the projects under construction are already pre-leased by companies.

Real estate developer Globalworth, controlled by Greek businessman Ioannis Papalekas, signed a contract with the American giant Amazon for one of the buildings that are part of the Globalworth Campus complex from the northern part of the Capital, writes further in the article made from the information provided by Esop.

The Austrians from CA Immo have signed a contract with Bitdefender, one of the most significant global players in the IT security market, which will move its offices this spring in the Orhideea Towers project, near the Grozăvești metro station in the Capital.

“Office buildings with larger spaces than in previous years are in the project phase or under construction, of which a total of 286.000 sqm are announced for delivery in 2018 and 2019 about 191.000 sqm, totaling a projected volume of over 470.000 sqm in the next two years (2018 and 2019). A good part of these spaces is already pre-rented from 2017 or are in advanced negotiations.

Is possible that a percentage up to 20% of the total spaces announced register for various reasons a delay in delivery of up to 6 months compared to the original deadline, according to the experience of previous years “, Alexandru Petrescu also estimated, for the publication Ziarul financier, in the real estate analysis article.

“We are working on a continuous fire on ten office sites in the Capital. More than 25.000 employees will move to new offices by the end of the year in Bucharest “, appeared on January 5.

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