The Balance Sheet of Offices in the Country

The balance sheet of offices in the country: transactions with 60% of large ones in cities outside the Capital

In 2014, the office market outside the Capital experienced its third consecutive year of significant growth. In the cities of the country, the main transactions accumulated last year a volume of 37,377 sq m rented, 60% more than in 2013, and over 7 times more than in 2012. The three main cities of interest were Cluj-Napoca, Timisoara, and Iasi, which also have among the highest stocks of class A and B office spaces outside Bucharest.

“ESOP advised trading a total area of ​​about 4,000 square meters, which was contracted earlier this year, representing about 10% of the volume traded in 2014. We also noticed that after the first wave of development of large cities in the country, such as Cluj -Napoca, Timisoara, and Iasi, follows the second wave of university centers, within ESOP currently carrying out analyzes and negotiations for renting office space in cities such as Craiova, Targoviste and Targu-Mures “, says Alexandru Petrescu, Managing Partner ESOP Consulting l CORFAC International.

Compared to 2013, when most transactions were generated by IT&C companies, 2014 and early 2015 recorded relocations or pre-leases for companies in several industries: energy, automotive, manufacturing, IT & C. Thus, we can see the diversification of companies that move their area of ​​interest from the Capital to the main cities, amid the development of quality projects and the superior supply of labor.

Top cities in terms of office transactions

Regarding the top cities in the whole country, cities chosen for offices by large companies, in 2014, on the first place is Bucharest, on the second place, Cluj-Napoca, on the third place – Timisoara, on the fourth – Iasi and on the fifth place the city of Ploiesti.

Among the big tenants who chose cities other than the Capital are Recall, Bombardier, E On, EBS Romania, HP, Accesa and Genpact – who chose Cluj-Napoca, ZTE, Microsoft, Linde Gaz, Accenture, and Continental – who preferred Timisoara, OSF, and GFK who went to Iasi and Webhelp who went to Ploiesti.

“In the context in which the engine of this expansion of many companies in the cities of the country is the need of companies to access competitive and skilled labor, we believe that there is an opportunity – and priority at the same time – for local authorities: the development of access infrastructure and public transport between large cities on the one hand and localities in the suburbs or small towns nearby, on the other hand, to ensure a constant flow of labor, in the medium and long term and the preservation of attractiveness over time in that region in front of the employers, “considers Alexandru Petrescu, ESOP manager.

If you would like more information about the office spaces for rent in Bucharest, please contact the ESOP team by filling this brief form or by phone (+4) 0723.26.61.97 or (+4) 021.528.04.40. We’ll promptly answer your inquiry!