In January-June 2018, companies in the IT&C sector were the most active occupants, holding nearly 31% of overall transactions, while companies in the energy (oil and gas) sector, come second with a 13.5% market share. The third spot is held by co-working space operators, considering that three new companies, namely, Mindspace, Spaces and Rent-a-desk, decided in the first half of 2018 to expand their business activity in Bucharest.
Nearly 40% of the volume of transactions was concentrated in the West, but the Center and Center-North also saw an intense lease activity, with 19.6% and 14.4%, respectively, of the volume of transactions. The space vacancy rate stayed below 8%, and the office space areas with the fewest spaces available were the Center-North, with 3%, CBD (Central Business District), with 4.3%, and the West, with 4.5%.
In terms of deliveries, the first half of 2018 saw the completion of a single office building, namely, the second building within the Globalworth Campus project. Eight more projects with a leasable area of over 150,000 sqm are to be put into use by the end of 2018.
According to data provided by Cushman & Wakefield Echinox, 70% of the spaces within the buildings due to be delivered in the second half of 2018 have already been leased.