Total demand from medical service providers increased as well, with such companies leasing 31,540 square meters of office space in Bucharest, after having rented 10,280 square meters in 2020.
“Hospitals sign long-term leases, usually more than 10 years, because the initial investment is rather high. Since a hospital requires a hefty investment and it rents a lot of space, the base rent is usually less than EUR10/ square meter and may stay at this level or go up depending on who makes the investment, the tenant or the owner (…),” Alexandru Petrescu, managing partner of ESOP Consulting said.
A medical facility can bring value to a project both because of the proximity of necessary services for employees and because of the possibility to sign contracts for occupational medicine plans or for medical plans offered to employees as part of the benefits package, Petrescu added.
Medical and pharmaceutical companies rented the highest amount of office space for clinics, hospitals or headquarters in the first nine months of 2021, about 23% of the total market, overtaking IT&C companies (22%).
The medical and pharmaceutical companies that rented new space include Trident Clinic, Provita Hospital, Medicover Hospital, PMEC Medical Equipment Center, Alcon and Astellas.
They chose such buildings as Global Business Center, Empire Tower, Herastrau Office Building, Iride Business Park, Multigalaxy Building, Green Court and One Tower.
(English version by Loredana Fratila-Cristescu)