Bucharest has nearly 2.5 million sqm office space only in those more than 200 modern buildings, plus older ones or large villas.

„Twenty years ago there wasn’t the space efficiency concept. But, in latest years, the companies became more concerned with costs control and bet on the efficiency, which translated also through a better use of the office spaces. In these conditions,  depending on the range of activity, one employee is getting up to ten square metres, compared to 15 square metres ten years ago“, says Maria Florea, head of office agency-contractor JLL Romania. Compared to twenty years ago, the office stock in Romania has increased almost 70 times, considering that in the end of the 90s the only modern business were Bucharest Financial Plaza, on Calea Victoriei and World Trade Center, in Piaţa Presei Libere, both in Bucharest.

„Considering the average space allotted to an employee, those decreased with the implementation of the open space offices in most of the offices which became more efficient, with less common or unused spaces. In the last period we notice an increase of the area for the leisure and entertainment spaces, mainly within the offices of the IT companies, therefore the average area for each employee has a slight growth trend“, says Mădălina Cojocaru, partner office agency of DTZ Echinox.

Only few weeks before the end of the year, the real estate developers are ready to inaugurate new projects, now in their last mile.

In Bucharest, more than 294,000 sqm of A class offices will be delivered by the end of the year, according to the latest numbers of CBRE regarding the real estate market. In the first quarter, 155,000 sqm were delivered in eight projects.

Almost half of the total offices already delivered this year, namely 48 pct., are situated in northern Bucharest, within the three large projects developed in the area Global­worth Tower and Gara Herăstrău Office Building, developed by Globalworth, as well as the last building in the project Green Court Bu­charest, developed by Skanska, with a total rentable are of 15,670 sqm.

„From the total of offices announced by the end of this year, 68 pct are situated in Pipera area. A fifth of the new offices in Pipera, namely 22 pct. are represented by the first phase of the Metroffice project developed by Im­mofinanz, scheduled for delivery in the fourth quarter of 2016“, shows CBRE.

Vastint Romania moves forward with the construction works for Tim­­puri Noi Square real estate project, one of the largest in central Bucharest. The complex will include 100,000 sqm rentable area  and will include offices, retail and residential.
Currently, works have begun for the first two buildings of the project, an area of 34,000 sq.m. (source: zf.ro)