Bucharest office market: Over 30 per cent of the demand came from the companies that moved from old buildings in modern projects - OUTSOURCING-TODAY.RO
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
Larry Ellison announced the availability of Oracle Autonomous Transaction Processing

Oracle Executive Chairman and CTO Larry Ellisonrecently marked a major milestone in the company's autonomous strategy with the availability of the latest Oracle Autonomous Database Cloud Service, Oracle Autonom

 Read Full article »
Ness Digital Development center in Iasi expands activity, creates new jobs

Ness Digital Engineering, one of the leading global providers of IT services, is consolidating the activities of its center based in Palas Iași, adding two major companies in the field of telecom, media & ente

 Read Full article »
BearingPoint expands its Security Advisory Center of Excellence in Romania

Technology consultancy company BearingPoint announced that it is expanding its Security Advisory Center of Excellence (CoE) in Romania.

 Read Full article »
Connections signs partnership with UiPath, aims 5 mln Euro from robots in 2019

Digital transformation company Connections, operating in Romania, Bulgaria and Serbia, has signed a partnership with UiPath, the Enterprise Robotic Process Automation (RPA) platform with the fastest acquisitio

 Read Full article »
Endava marks IPO and first day of trading on New York Stock Exchange

Endava opened for trading on the New York Stock Exchange (NYSE) under the ticker symbol "DAVA" following its initial public offering.

 Read Full article »
Colliers: Co-working changes Romanian office leasing data

The end of the first semester has brought into light great achievements from regional cities in all real estate segments. Bucharest has also performed well and, according to the real estate consultancy company

 Read Full article »
Atos, closer to acquire Syntel

Atos and Syntel have entered into a definitive merger agreement under which Atos will acquire Syntel for cash consideration of c. 3.4 billion US dollars, 41.0 Us dollars per share, representing apx. 14 per cent

 Read Full article »
Turkey's TotalSoft completes acquisition of Romania's Architected Business Solutions

Turkish-owned software company TotalSoft said on Monday it has completed the acquisition and merger of Romanian business management consultancy group Architected Business Solutions (ABS). The deal was announced

 Read Full article »
SAP and Lufthansa launch world's first "Aviation Blockchain Challenge"

The Lufthansa Innovation Hub and the SAP.iO Foundries program in Berlin launched the "Aviation Blockchain Challenge" to draw attention to the potential of blockchain technology in the aviation industry, uncover

 Read Full article »
Endava specialists put 3-month work in Via Transilvanica platform

The Via Transilvanica online platform, a concept initiated by the Tăşuleasa Social Association, was developed pro-bono by an Endava team in three months. A smartphone application, interactivity and tagging fu

 Read Full article »
 
 
MOST READ ARTICLES
» The Outsourcing industry announces its...
» Endava expands its IT team in Republic...
» Olga Botusan, Stefanini: There is a hu...
» French energy operator Total opened su...
» PwC: The competitive advantages of Rom...
» Central European Investment Volumes Re...
» Jacek Levernes: Promoting Romania and ...
» Daniel Adumitrachioaiei, HRD, CapGemin...
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» Amazon to continue expansion in Romani...
 
EDITOR CHOICE
The long way from Learning to Development

How to succeed in reaching the young and the valuable employees and wining their hearts and minds, so they will forever be committed to gain knowledge, evolve in profession and build a strong career inside the

 Read Full article »
Synergy of skills

There are over 250.000 employees only in the class A and B office buildings in Bucharest and around one million employees spread around the city. How does the office market cope with the need of companies to ac

 Read Full article »
Risk management in industry 4.0. The risks are new, how is the management?

The ink is not yet dry in terms of GDPR's EU compliance regulations and the last few months have been a very useful exercise for everybody, either vendor, producer or consumer to understand that rigid concepts

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