Top domains from which most companies that pre-rent offices come from IT&C, BPO, and Finance & Banking
The first place in the top of the fields that rented or pre-rented new office space is the IT&C field. The companies with this profile signed 51% of the total area included in all rental and pre-lease contracts from 2017.
In the second place, at a great distance in weight, with a total of 16% of the market is the field of Finance, Banking, and Insurance.
38% of the office spaces in Bucharest that are under construction and planned to be put into use in 2018 are already pre-leased since last year, according to an ESOP Corfac l International analysis.
In the first two months of 2018, the IT&C field dominates the demand for office space in Bucharest.
“Earlier this year, most companies looking for a new headquarters came from the IT&C sector. 89% of the total office space brokered by ESOP in the first two months, where new employees will move, has been reserved by IT&C companies. Among the office buildings chosen by ESOP, clients are Campus 6 and Timpuri Noi Square, state-of-the-art projects with many facilities for employees.
And further, we estimate that this trend will be maintained, so that three out of five companies looking for new offices that will sign leases in the next six months will be from the same fields IT&C, research and development, BPO, shared services, call-center or financial-banking field, in Bucharest and in the main university centers in the country”, says Alexandru Petrescu, Managing Partner at ESOP Consulting l CORFAC International.
In 2017, the share of contracts for renting, pre-renting, and expanding new office space in the total market increased by 74% compared to 71% in 2016, totaling over 228,000 sqm of the total of approx. 308,000 sqm traded.
The center-north area was in the first place in 2017 in the preferences of tenants.
In terms of areas of interest, most new office contracts (lease, pre-lease, and extension) were registered with office space in the center-north area, with a total of 135,168 sqm, followed by the second place of the center-west area with a total of 49,361 sqm and on the third place the center-south area with 23,373 sqm.
This top mostly followed the top of the areas where the most deliveries of new modern office spaces, class A and B, took place in 2017.
In 2018, the center-west area will have a higher share in the total rented spaces, given that 56% of the projects completed in 2018 are concentrated in this perimeter.
2017 was a record year for ESOP
The company’s turnover in the ESOP group was 1.5 million dollars in 2017, the highest recorded in the last 16 years, 85% of revenues coming from the intermediation of office space, and the rest from sales-purchases of real estate.
ESOP mediated in 2018 transactions of office space totaling over 44,000 sqm.
The office rental segment remains the company’s main activity as a share in turnover. Still, in 2017, the Investment Department’s percentage also increased, which brokered real estate transactions in Bucharest with a total value of over 10 million euros.
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