The Best Semester for the Bucharest Office Market

H1 2014 was the best semester for the Bucharest Office Market in the past six years. In the first six months of this year have been leased 108,000 square meters of office spaces in Bucharest – the largest volume of rentals in one semester since 2008, according to a report from the real estate consultancy company DTZ Echinox. The demand for office spaces has increased gradually in the first part of this year, and this trend will continue in the following quarters, declared Madalina Cojocaru, head of office department of DTZ.

“The tenants continue to prefer to relocate into existing buildings or in buildings that will be delivered within 6 to 12 months. This behavior is encouraged by the occupancy costs and by the quality of the new office spaces delivered. We identify in the market big companies looking for Read more

The Office Investments do not Stop

There is a real interest from multinationals in industries such as IT, Back-office centers and even from the banking industry for developing their operations in Romania, and this is a positive aspect for the companies that invest in office buildings, declared Johan Karlstrom, president and CEO of Skanska, a Swedish group with businesses of 15 billion euro in 2012.

Skanska started in February this year the construction of its first office project in Bucharest, named Green Court, and so far it built the foundation and the underground parking in the project located near the corner of Barbu Vacarescu Avenue with Pipera Drive. By the end of this year is scheduled the completion of the structure with 12 floors of the first building in this project, with a rental surface of 19,500 square meters – an investment of 46 million euro which will be delivered in the second half of next year. “We are studying the Romanian market since 6-7 years ago and I can say that at that time it was overheated. We believe that now is a good time to enter the market and Bucharest is a city where Read more