“Historically speaking the area has had a less than 5% vacancy rate through market cycles; it is anchored by the access to the Promenada Mall and the Aurel Vlaicu subway station. We expect occupancy rate in the Floreasca-Barbu Vacarescu area to remain very high and the investors’ appetite to remain significant,” said Mihai Patrulescu, senior associate with the Investment Services department of real estate consultant Colliers International Romania.
The Barbu Vacarescu-Floreasca area takes the spotlight of the real estate market again after investors focused on the Orhideelor area for three years. It includes the two new Globalworth buildings along with the Skanska project – Equilibrium, which should be completed in the second quarter of 2019 along with the projects up for sale – Floreasca Park of GLL and Floreasca Business Park and Lakeview of NEPI-Rockcastle.
The Orhideelor or Central-West area of Bucharest is the location of the largest office space deal so far, the sale of The Bridge by Forte Partners to Dedeman for EUR200 million.
(English version by Loredana Fratila-Cristescu)