Across the country, in the last three months, companies have leased modern offices with a total area of 108,747 sqm, both new offices and contract extensions, up 9 percent from the same quarter of 2021, according to an analysis by Fortim Trusted Advisors, an alliance member of the BNP Paribas Real Estate.
At the country level, large cities have an increasing share in the total number of office rentals, to the detriment of the capital. In Bucharest, contracts were rented, pre-rented and extended for a total office area of about 75,700 sqm, while in Iasi of 11,355 sqm, in Cluj-Napoca of 9,293 sqm and in Timisoara of 6,415 sqm.
“The regionalization of the office market will remain a constant of the coming years, as it happened with the development of several business poles in Bucharest. Over time, their number has increased, and business areas have covered a larger area of the city, reducing the pressure on the transport infrastructure, and creating a diversity of supply. In the same way, office segments in cities such as Cluj-Napoca, Iasi, Timisoara are developing, but more cautiously. Investors only move from one stage of the projects to another after making sure that there is a current demand. Until now, regional markets have attracted more and more large demand, from multinational companies, which have seen an opportunity in the well-trained workforce, in regional universities and which are now expanding easily from one city to another, depending on the availability of quality office spaces,” says Nicolae Ciobanu, Managing Partner – Head of Advisory Fortim Trusted Advisors, an alliance member of the BNP Paribas Real Estate.
The largest transaction outside Bucharest was made in Iasi, where Preh Romania pre-leased an area of 4,500 sqm offices, in a building still under construction, in the Palas Campus project.
