In Bucharest, the volume of transactions, including relocations, pre-lease contracts, expansion contracts and renegotiations rose 5.57% on the year in 2014, to 308,353 square meters. In the main Romanian cities Cluj, Iasi, Timisoara and Sibiu, office space transactions rose 61% on the year to 37,377 sqm.
“In 2014, there was a positive change in the trend of pre-lease transactions, possibly due to the higher number of attractive projects launched on the market in the last 12-18 months, which will be delivered in 2014-2015. The evolution was also triggered by the slightly positive trend of the Romanian economy, a higher confidence in the Romanian environment but also a real need of companies to resume business expansion, approach new markets or implement new ideas and technologies,” Alexandru Petrescu, managing partner Esop Consulting, stated.
Last year, 120,000 square meters of rentable office space were delivered, similar with 2013.
For this year, Globalworth, controlled by businessman Ioannis Papalekas, plans to finalize Bucharest One building, totaling 48,000 square meters, while AFI Europe plans to deliver 30,000 sqm in AFI Business Park IV&V buildings.