Office delivering level was 25% less than 2011 and 64% less than 2010. Last year registered 226,000 sqm office transactions, nearly 15% less than the precedent year. Last quarter of 2012 brought 68,000 sqm of office transaction. 30% of the total sqm of transactions registered for 2012 represents renegotiations and renewals. Most of the office transactions were registered for Pipera area (27%), followed by Northern Bucharest (23%) and Western Bucharest (20%). The biggest transaction of the 4Q 2012 was the contract renewal and extension of Orange in Europe House building. 19,000 sqm were added to the office market with the delivery of the first stage of Afi Business Park and the delivery of Unicredit “built to suit” project. Other buildings officialy delivered in 2012 are Bucharest Tower Center, Aviatorilor Plaza, Monolit Square, Magheru One and ART Business Center 6. The office supply is estimated to have a 135,000 sqm growth in 2013, with 2.35 million sqm, representing a 25% increase. The biggest projects to deliver in 2013 are Sky Tower, developed by Raiffeisen Property Holding International and Portland’s Floreasca Park. The un-occupancy rate of the Bucharest office spaces was 15.5% in 2012, with 340,000 sqm available A and B office spaces at the end of the year. In Bucharest, A class buildings rent starts from 16 euros/sqm/month in the central areas and from 11 euros/sqm/month in the peripheral areas. At the beginning of 2012, the basic rent will stabilize around an average of 18 euros/sqm. (source: