Office transactions outside Bucharest increased by 53 per cent last year, says ESOP
Office space transactions outside Bucharest have increased by 53 per cent last year, reaching a total volume of 71,560 sqm, according to a report released by ESOP Consulting.
Half of this space was rented in Timisoara, as much as all other cities combined: Iasi, Cluj-Napoca, Brasov, Arad and Pitesti. The report states that IT&C companies are starting to expand in more cities simultaneously, like Accenture (offices in Bucharest, Cluj-Napoca, Iasi), Deloitte (Bucharest, Timisoara), Ericsson (Bucharest, Pitesti), HP (Cluj-Napoca), and Huawei (Bucharest, Timisoara).
"Big universities cities in Romania attract companies seeking young talents especially for IT&C sector, share services, call centre, research and development, and the interest for such cities is increasing, with a strong impact on the office market in those areas for the next five years," said Alexandru Petrescu, managing partner, ESOP Consulting.
For this year, ESOP estimates that those companies will continue to expand in cities with young students or graduates with multilingual and technical abilities, such as Timisoara, Iasi, Cluj, Brasov and Sibiu, where the office market is also well established. According to the same source, the expansion will continue in the next years in cities such as Craiova, Constanta, Pitesti, Arad, Oradea or Galati.