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CBRE: 300,000 sqm of office space to be delivered this year in Bucharest

Over 294,000 sqm of class A office space will be delivered this year on Bucharest, on 16 real estate projects, according to a CBRE research.

2016-10-26 10:24:08

So far in 2016, 155,500 sqm were completed in eight projects and another 138,500 sqm of office space are to be delivered by yearend. Almost half of the office stock delivered this year is located in the North of Bucharest. Overall, 68 per cent of the total office spaces for 2016 in Bucharest are located in Pipera, according to CBRE.

For the next year there are nine projects that will bring approximately 179,000 sqm on the office market.

"Bucharest office market is consolidating and expands steadly at a pace that reflects the performance of the dynamic industries in Romania - such as IT, outsourcing and the financial sectors - which are the engine of economic growth," said Mihai Paduroiu, head of advisory and transaction services, CBRE Romania.

According to CBRE, 2018 will be a dynamic year for the real estate market in Bucharest, with 433,000 sqm of office spaces to be delivered in 19 projects.



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