“Offices in the central-western part of capital Bucharest have potential to reach 907,000 square meters of leasable area, compared to 622,000 sqm at present. For instance, One United Properties plans to further expand One Cotroceni on the plot of land in the Vulcan area. AFI Europe still has land plots or further developments, beside other new buildings already announced“, said Roxana Bencze, COO of real estate consulting firm Knight Frank Romania.
The city’s central-western area currently accommodates four projects totaling 111,000 sqm, which already received building permits and whose works may start anytime, and five other projects totaling 174,000 sqm await building permits.
Currently, in 2024 and 2025, only 25,000 sqm of new office space are confirmed to be ready, which represents 10% of a single year deemed normal on the real estate market. Consequently, most tenants chose to stay in the existing headquarters and not to relocate to new buildings, as in the case of the year 2019 which faced the latest wave of new office space.