Office Market in 2015

60% of the total office market are transactions with over 3000 sqm

  • The share of transactions with office areas larger than 3,000 sq m increases and the other segments decrease;
  • At the level of ESOP Consulting, the total leased area increased by 22% compared to the same period last year; the largest transaction assisted by ESOP was 4,000 sqm, Hella company in the City Business Center building in Timisoara.

In the first three quarters, the most significant “slice” of the office market belongs to large tenants: the share of transactions with large office areas of over 3,000 square meters increased even more, to 60% in 2015, compared to the same period in 2014, when it represents 37%, according to a study conducted by the real estate consulting company ESOP.

Transactions with office areas of over 3,000 square meters were made mainly in Bucharest. Still, essential contracts were signed with areas of 3,000 square meters and above in cities such as Timisoara, Brasov, and Iasi.

“Confidence in the Romanian economy is growing, and the economic and political stability of the last period has determined a part of the companies with over 300 employees present on the Romanian market to resume the expansion plans. IT&C, BPO, Share Services, professional services, automotive, were the most dynamic fields in the first 9 months of 2015, observing both in Bucharest and in the country an increase of interest and rented areas. We believe that this trend will be kept for the next 24 months,” says Alexandru Petrescu, Managing Partner of ESOP Consulting | CORFAC International.

Among the big tenants that found office space in 2015 are Oracle, Hella, Genpact, KPMG, NNDKN, Luxoft, Siveco, and Alcatel. Last year, in the same period – the first three quarters – the share of spaces over 3,000 square meters was 37% of the total, which is just over a third of total transactions (according to the chart below).

22% increase in the area traded through ESOP

At the level of ESOP Consulting, the total traded area was 28,234 sq m in 2015, 22% more than in the same period of 2014, and the average area of a transaction increased by approximately 30% during this period. The largest deal made by ESOP in 2015 was the rental of office space of 4,000 sqm, in Timisoara, in the City Business Center building.

Maria Neda

PR & Media Coordinator, PR & Media Consultant, with background as a journalist in the economic press and experience as a consultant in Urban Development.

Postari similare

Renegotiations pulled up the office space market in the third quarter

During the third quarter of 2020, which just ended, the office market rental reached 56,730 sqm, a transaction level closet o the one registered in the same quarter in 2019, namely 88% of that period, according to ESOP Consulting. For more than half of these spaces, tenants preferred to stay in the same office buildings, […]

Read more

The Large Office Transactions, of Over 10,000 Sq m, Were Made Only by Companies in the IT&C and Financial Fields, in 2019

Dividing the office market by the size of new traded spaces: the large office tenants dominated the market in 2019, in Bucharest, the segment of transactions with areas of over 10,000 sqm cumulating the most significant volume of new traded spaces 75% of the large tenants were in the IT&C field and 25% in the […]

Read more

What would be an improvement for office working conditions of 200,000 employees in Bucharest

In Bucharest, more than 200,000 employees work in office buildings built by private companies, which are more than 10 years old. Also, more than 250,000 employees are in office buildings inaugurated in the last 10 years, according to an analysis by the real estate company ESOP Consulting l CORFAC International. Tenants are looking for new […]

Read more

Join the discussion

*/ ?>