In 2022, most office spaces will be put into use in the Cotroceni – Răzoare – Grozăvești areas.
“In total, in 2022, we estimate that a total area of 162,087 sqm of class A office space will be delivered. Approx. 59% of these spaces will be delivered in the Center-West area of the capital (94,723 sqm), while in the Center-North area 29% of the spaces are announced” says Alexandru Petrescu, Managing Partner at ESOP Consulting I CORFAC International.
In the Center-North area, where the largest office spaces were inaugurated this year, next year will have only two deliveries of notable office buildings: @Expo building A and Equilibrium Phase II, with a total of 47,686 sqm.
In the Downtown of the Capital we have only one office building under construction, estimated to be completed next year: Tandem, in the Universitatii area, with a total of 19,678 sqm and about 2,200 sqm on each floor. Tandem is a green project, with green spaces on the roof and generous terraces, but located in the most cosmopolitan area of the Capital, on Calea Victoriei, with easy access to all means of transport, close to the University of Bucharest and ASE, the main state institutions, embassies and with numerous restaurants, cafes, terraces nearby. The building will be BREEAM Excellent certified.
One Cotroceni Park Phase IIwill be the largest office building inaugurated next year in Bucharest and is the second office building of the project with the same name, close to the Răzoare metro station, near the Cotroceni Palace.
The infrastructure of the area is in full modernization process, with the purpose of becoming an important junction between the central area and the Drumul Taberei neighborhood. In the end, One Cotroceni Park will be a complete urban development, at the western level, with all the facilities. The One Cotroceni Park project will have office buildings and living spaces but also own shops and services.
The first building of One Cotroceni Park is delivered in the last quarter of 2021 when the first tenant will move in their offices that are already arranged. In total, One Cotroceni Park phase I has a leasable area of 46,000 sqm and an occupancy rate of over 75%.
Tenants include Superbet, DB International, SII IT&C Services.
The entire project is made according to new construction standards, sustainable, with low energy consumption and compliance with current health standards, being pre-certified LEED Platinum and in consideration to WELL Health and Safety standards.
One Cotroceni Park is a mixed-use project, in the future it will be completed with 850 apartments and its own shopping center, cafes, fitness room, dry cleaning, etc. The concept is Live/Work/Play in the same place.
Sema Parc is the second largest project, with several new spaces to be put into use in 2022. It is estimated that two buildings will be completed, Sema Parc Oslo, with 10,177 sqm, and Sema Parc London, with 21,347 sqm, located right on the banks of the Dambovita River and in the immediate vicinity of the Petrache Poenaru metro station.
AFI Tech Park II is located in the central area, near Vulcan Center, with access to two boulevards – Progresului and Tudor Vladimirescu, to the Marriot Hotel and the Parliament Palace. The office spaces are class A. In total the building will have eight floors, with an average of 2,000 sqm per floor. The construction is made for certification to LEED Platinum standards, expected to have a low energy consumption by about 20% compared to an ordinary office building. In the basement, there are 220 parking spaces and bicycle facilities.
Also, next year, Expozitiei 1 building A will be completed, in the area of the Casa Presei Libere – Expozitiei. In total, it will have 28,300 sqm class A spaces for rent, pre-certified BREEAM Excellent. @Expo building A will have bicycle parking, charging stations for electric cars, sensor-based lighting, and LED system as well as shops and service areas on the ground floor.
The only new office building in the Barbu Văcărescu area in 2022 will be Equilibrium II, with a total of 19,386 sqm, which will complete the Equilibrium project, estimated to be put into use in the fourth quarter.
The office spaces will be class A, a special signature of the project being the large green space, in front of the two office buildings, which allows spending more time outdoors, for networking and relaxation. In this vibrant green area, WiFi coverage and urban furniture are provided, suitable for outdoor work. Equilibrium also benefits from bicycle parking, locker rooms, a point where you can rent bicycles, and charging stations for electric cars.
In short, next year fewer office buildings will be put into use than this year, with a smaller but higher quality stock. They will be added to the stock of new offices completed this year, currently in process of renting. However, next year’s buildings will be notable office buildings, with numerous facilities, which currently have competitive rents on the market, in the pre-lease stage, suitable for companies whose leases will expire in 2022-2023.
For the year 2023, the delivery of only approx. 153,000 square meters of high-class office space. The pace of construction of office buildings has slowed down significantly in Bucharest in recent years, and 2022 was the first year in which this was visible. Some of the scheduled multiphase projects have postponed the development of the […]
With an area of 171,341 sqm, nine office buildings have space deliveries scheduled for the next year in Bucharest. All have construction works on time, and five of them have pre-leased spaces that reach approximately 60,000 sqm. As a novelty, more of the buildings have outdoor terraces, more generous than in the past. Furthermore, these […]
One Cotroceni Park is most likely one of Bucharest’s most ambitious urban regeneration projects: a landmark mixed-use project, with over 75.000 sqm A-class offices in a modern business park, 800 apartments, and 20.000 sqm retail spaces. And it is also probably one of the best pre-leasing opportunities in the office market in 2020 – 2021 […]