In the third quarter of 2021, four office projects were completed in Bucharest: J8 Office Park with Buildings A and B, the first phase of U-Center – Building A, Globalworth Square and Politehnica Business Tower. All these projects totaled an area of approx. 120,000 sqm, representing a record level of deliveries – approx. 44% of the total estimated for 2021.
In Q3 2021, Bucharest was rented a total area of 79,270 sqm of modern office spaces, out of which 34% were represented by the renewal of lease contracts in the current premises and 66% net take-up (newly contracted offices and expansions in the existing ones).
The most sought-after area was the Central-North one, with 61.7% of the companies’ preferences for renting new spaces, followed by the Downtown area with 12% and the North area with 10.6%.
The most active tenants were companies in the Medical & Pharma and IT&C/BPO/SSC sectors, with 36% and 18% of the net take-up, respectively.
By the end of 2021, over 100,000 sqm of modern office space is forecasted to be completed, with the largest surfaces in One Cotroceni Park, phase 1 – 46.000 sqm, and MIRO – 22.850 sqm.
The map shows the rent levels by class in the main business areas. By the end of the year, some adjustments might take place.
The year begins with a positive evolution in terms of the level of transactions, in the first quarter of 2022 being traded in Bucharest a total area 41% higher than in the same period of 2021. Download the ESOP study_Office Market Snapshot_Q1 2022 At the end of the first quarter of 2022 in Bucharest, five […]
New Deliveries in 2021: 263.000 sqm of office spaces in Bucharest, with 67% more than in 2020, and with 23% more than the last 5 years average deliveries Over 78% of the spaces got delivered within the second semester (approx. 207.000 sqm) New spaces had a more balanced distribution in terms of areas, compared to […]
in Bucharest, was rented a total area of 80,400sqm of modern office spaces the most active tenants were companies in the Medical & Pharma sector, with 25% of the net take-up Download the ESOP study Office Market Snapshop in Q2 2021 Overview In the second quarter of 2021, one office building, Tiriac Tower, with a […]