Therefore in Cluj there are scheduled for delivery this year 50,000 sq. m, according to JLL. “The city’s modern dimension, the modern infrastructure and the lower costs attract a larger number of investments. The real estate developers have seized the opportunity and they will deliver over 50,000 sq. m on new office spaces only this year.”, said Andrei Vacaru, head of research&consultancy within JLL.
The main office deliveries announced this year in Cluj are the first phase of The Office project, developed by Ovidiu Sandor and NEPI (19,000 sq. m), the second phase of Liberty Technology Park (13,400 sq.m), developed by Fribourg Development, United Business Center Tower (10,000 sq. m), developed by Iulius Group and the second phase of Cluj Business Center (8,000 sq. m), an investment of Felinvest, according to JLL.
The new development will add to an existent office stock estimated by DTZ Echinox at 150,000 sq. m. The office stock in Cluj is estimated to double by 2016, considering the projects in development. (source: wall-street.ro)