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Articles - office rentals

Bucharest offices – best quarter in the last 21 months

The office request (except for renegotiations and extensions) reached 48,500 q. m in the first 3 months of the year, with more than 55% prelease transactions.

Microsoft, Linde Gaz and ZTE rented 3,500 sq. m in Timisoara

The companies Microsoft, Linde Gaz and Chinese group ZTE rented offices with a total area of nearly 3,500 sq. m within the first building of Optica Business Park project developed by the brothers Marius and Emil Cristescu in Timişoara, the building reaching 90% occupancy rate, according to Activ Property Services, in charge with renting the spaces.

Office development possibilities in Zagreb and Belgrade

Zagreb and Belgrade are generally viewed as offering office development possibilities despite being at different points in the development cycle. Belgrade has close to zero vacancy with limited stock while Zagreb has high vacancy and an “overheated” office market. Development opportunities are anticipated with an economic upturn in the Croatian economy in the next 2-3 years.

Immofinanz rented 5,400 sq. m office spaces in Bucharest

Immofinanz Group, one of the most important real estate investors on the local market, attracted in the recent months tenants for nearly 5,400 sq. m in the office projects Iride Business Park, Victoria Park and S-Park.

Genpact expand lease in office project IRIDE in Pipera

The outsourcing company Genpact increased its leased area with 3,200 sq. m in Iride Business Park in Pipera, a property in Austria’s Immofinanz Group portfolio, where the company could set offices for at least 300 employees, according to ZF estimations.

Bucharest’s Top Office Tenants

Largest tenants in Bucharest’s office buildings are HP (32,000 sq. m), Romtelecom - Cosmote (28,000 sq. m) and UniCredit (28,000 sq. m), according to ZF study based on the data provided by the real estate agency Colliers, saying that only 20 companies and banks have rented in Bucharest spaces exceeding 10,000 sq. m each.

The spaces exceeding 3,000 sq. m raised the office market in Bucharest in Q1

The share of the transactions exceeding 3,000 sq. m has increased from 19% to 43% of the total Bucharest office spaces in the first quarter.

Office market 1st quarter: the demand is up by 13% in Bucharest and 50% in the rest of the country

The office area transacted in the first quarter of this year has increased both in Bucharest and in smaller cities in the country, such as Timisoara and Cluj-Napoca, mainly due to the development of the IT&C companies, which continue to recruit thousands of employees and to occupy new floors in business centres.
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