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CBRE maintains its market leader ranking with 24 per cent market share on the Bucharest-based office segment

In 2018, CBRE, the real estate consultant managed 24 per cent of the Bucharest-based office market, according to a release of the company.

2019-01-17 20:40:40

For CBRE, last year was characterized by an intense pace of development in the office buildings segment in Bucharest, with 144,000 sqm of newly built and delivered projects. In 2018, more office space was completed by 15 per cent than in 2017 when projects totaling 123,000 sqm were completed. Of the total area traded at the capital level, CBRE broke agreements for approximately 85.000 sqm. The company was also active in regional cities where it was involve in 12,500 sqm of office space operations. In the country, CBRE was involved in office transactions for 12.000 sqm office spaces.

"The year 2018 was extremely prolific for the office space market, which rose compared to 2017, as I had anticipated. For CBRE, it was a period of results that we are proud of, in which we have retained our leadership position for three years and we have managed to bring new and very important names on the Romanian market for the first time. I think that a major role in this success is played by both the talented team that worked on these transactions and the know-how accumulated at the local level. Also, the experience of decades and the support of CBRE consultants around the world are an unquestionable asset for our success in Romania. For 2019, we want not only to maintain our first position, for which we will continue to work at least as much as to bring innovation to this segment and contribute to the development of the office space sector in general that is already approaching fast-paced mature markets in Europe, "said Mihai Păduroiu, CBRE Romania's Head of Advisory & Transaction Services.

The company announced it managed over 40 office transactions in 2018, amounting over 85.000 sqm in Bucharest and 12.500 sqm countrywide in cities such as Cluj, Brasos and Timisoara. Within this volume, almost 40.000 sqm represented renegociations, over 23.000 sqm were pre-lease contracts, another 23.000 sqm represented relocations, expansions and new demands. The expansions and the new demands totalled 12.000 sqm, equalling 1.200 new work places.


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