The IT&C sector is followed by the companies in the Medical & Pharma and energy sectors which made up 14% and 13%, respectively, of the total number of newly leased spaces.
Over the last five years, the sectors of IT&C, Financial, Professional Services, Medical & Pharma and Constructions & Real Estate (including the co-working operators) have constantly dominated the market.
The decline of the share held by the IT sector has been felt since 2021 along with a growing demand from companies in the medical sector. Subsequently, the demand for office space from companies operating in this sector kept a constant trend, accounting for 14% of the demand for new spaces in the first quarter of 2023.
Bucharest’s North-Center area was the most sought-after for space relocations or expansions, accounting for 71% of companies’ preferences, being followed by the Center-West area, with 13%.
The Center-North area will hold the top spot in 2023 in terms of deliveries of Class A office buildings, with 54,000 square meters, being followed by the Center-South area with 35,000 sqm and Center-West with 34,000 sqm, respectively.
Office buildings with an overall area similar with last year’s, covering a total 153,000 sqm of office space, are due to be completed by the end of 2023.