Latest News  

Bucharest office market: Over 30 per cent of the demand came from the companies that moved from old buildings in modern projects

Companies have rented in the first quarter almost 70,000 square meters of office space in Bucharest, one third of the demand came from companies that formerly had its headquarters in old, small buildings or in other spaces than modern buildings (noncompetitive stock), JLL says.

2018-04-12 11:58:01

This segment of demand increased compared with last year, when accounted for only 7 per cent of the total take-up.

On average, each companies that moved its offices for the first time into a modern office building contracted 2,200 square meters, more than the average of the total demand, of 1,166 square meters.

"The growing interest of these companies in modern office space can be explained by the fact that either the spaces they occupied previously no longer respond to theirs requirements, or because most of them expanded their business and needed more spaces. In addition, there are cases when companies consolidate their activities from several small buildings into one modern project. In addition, as we observe, more and more companies are having difficulty finding and retaining employees, and the work environment has become an important tool in recruiting employees", comments Mădălina Marinescu, consultant Office Department JLL Romania.

The areas in Bucharest targeted by companies that moved their headquarters into modern office buildings were Center, with more than half of the demand and West, with 30 per cent of the total.
IT & communications companies continued to be the most active tenants with more than 60 per cent of demand in Bucharest, followed by energy companies which cumulated over a quarter of total take-up.
More than 60 per cent of the total take-up represented new demand (new contracts, extensions of the existing offices and pre-lettings), which can accommodate at least 4,100 employees.
On supply side, only one building was delivered in the first quarter, Globalworth Campus Building 2, with an area of 28,000 square meters.

For the whole year, developers plans to deliver around 230,000 square meters new office spaces, compared to 140,000 square meters completed in 2017.

Almost 80 per cent of the demand outside Bucharest targeted Timisoara and Cluj-Napoca

The demand for offices outside Bucharest - Timisoara, Braşov, Craiova, Iaşi and Cluj-Napoca totaled 17,000 square meters in the first quarter. Nearly half of the demand outside Bucharest was recorded in Timisoara (8,239 square meters), while 30 per cent of the rented spaces (5,100 square meters) targeted Cluj-Napoca.

IT, BPO and professional services companies were the most active tenants, with nearly 60 per cent of the total take-up.

JLL estimates that the modern office stock in Braşov, Timişoara, Iaşi and Cluj-Napoca will increase by almost 25 per cent this year, to about 865,000 square meters. In Timisoara, developers announced projects of 83,000 square meters, in Cluj-Napoca, the stock will grow by 43,000 square meters, in Brasov will be delivered 25,000 square meters, and in Iasi only 9,200 square meters will be completed in 2018.



0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
Co-working hubs get big on the office market in Bucharest

In the first half of this year, coworking spaces operators are said to have rented office space of nearly 20,000 square meters in existing or emerging buildings in the capital, accounting for 13.4 per cent of t

 Read Full article »
Stefanini achieves 2 digit growth for the 5th consecutive year in Romania and EMEA

Stefanini Romania increased its net turnover by 13.5 per cent last year, to 38.8 million Euro. The company has also seen an important 12 per cent growth at EMEA level last year, where it registered revenues of

 Read Full article »
Ubisoft Coding Campus records 1,000 applicants for 24 positions

Ubisoft, one of the entertainment industry leaders, announces the start of the Coding Campus courses, a 6-month international accelerated learning program based on a curriculum developed by Ubisoft's online pro

 Read Full article »
CBRE: Building owners choose to outsource their property management

According to the latest findings of real estate consultant CBRE, the percentage of outsourcing of property management services has increased over the last few years in retail and office segments; In 2017, 79 pe

 Read Full article »
Veeam launches the global CSR program Veeam Cares and donates toys for 50 children of Hercules Association

Veeam launches the global CSR program by introducing the Veeam Cares initiative, encouraging its employees from around the world to engage in voluntary activities for the benefit of selected NGOs.

 Read Full article »
Zitec launches its new office space of 1,700 sqm in Timpuri Noi Square

Zitec, specialized in the development of personalized technology solutions, services and products, announced it launched its new headquarters in the Timpuri Noi Square office on a surface of 1,700 square meters

 Read Full article »
SAP will "adopt a school" also in Cluj-Napoca, Timisoara and Bucharest

SAP continues in 2018 the project Adopta o Scoala (Adopt a School) through which the company's employees support Scratch programming courses in three primary schools in Bucharest, Timisoara and Cluj-Napoca.

 Read Full article »
CBRE advises London Stock Exchange Group in Romania

CBRE, the world and local market leader in real estate consultancy, advised London Stock Exchange Group (LSEG) in the leasing transaction of 3,000 sqm office space for a new Business Services Centre in Buchares

 Read Full article »
Portland Trust unveils the new symbol of Oregon Park

Closely related to events celebrated in 2018, the year of Romania's 100th anniversary, Portland Trust unveiled the statue that will highlight the identity of the award winning office complex Oregon Park.

 Read Full article »
96% of the first generation of ABSL Master's graduates were employed in business services

96% of the first generation of ABSL Master's graduates were employed in the same field they have studied - business services, within the member companies of the Association of Business Leaders in Romania (ABSL)

 Read Full article »
 
 
MOST READ ARTICLES
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» Committed to growth
» The Outsourcing industry announces its...
» Genpact's COO: Staying ahead of the cu...
» PwC: The competitive advantages of Rom...
» Zitec's digital marketing division reg...
» Luxoft expands Asia Pacific presence w...
» Olga Botusan, Stefanini: There is a hu...
» EXCLUSIVE: ABSL Timisoara - BPO and SS...
» How does leadership look today?
 
EDITOR CHOICE
In the search of the best next available resource, human or not

With the work demand expressed for the "traditional" job openings in ITO, HRO, BPO or SSC, the question formulated by the industry stakeholders points to some concerns regarding the future availability of the s

 Read Full article »
Competing in outsourcing: racing of endurance and skills

As Romania's outsourcing sector is currently estimated to employ more than 100,000 people, a constant evolution in the past years (with 15.000 employees registered in 2007), the local market is a popular nearsh

 Read Full article »
How to become people savvy?

The discussions in the panel of this summer's OT Learning and Development's roundtable underlined the necessity of providing the learning and the knowledge transfer when the necessity occurs, customized and app

 Read Full article »
From a Romanian business venture to a place called home

Vivek Bakshi, the General Manager of International Operations (Europe) at Wipro Technologies has spent more than a decade in Romania, heading the Wipro's International Locations/ Delivery Centers Europe from Bu

 Read Full article »
George Didoiu, Colliers: The trend in office development is going towards an area where people are encouraged to interact

The co-working spaces are already present and gaining grounds. The classical close-doors offices will be rare and a strong trend is to include features now present in the hospitality area in the company offices

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area | GDPR policy
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events