The year 2024 brings zero sqm of office space in large projects for the first time in a Bucharest market that is used to at least 100,000 – 200,000 sqm. If small projects are taken into account, then about 33,800 sqm of office space could be delivered in 2024, as the number of new buildings shrinks to four this year, according to Fortim Trusted Advisors data. In 2024 the largest building to be delivered will be AFI Loft, a project that will be integrated into the AFI Cotroceni project, but it will be 16,000 sqm.
The year 2023 brought a number of firsts – One United signed the largest-ever contract for the development of a dedicated office building for German giant Infineon, while other companies rethought their office strategy.
In the case of BCR, at the end of 2022 came the announcement that it was giving up the 14,000 sqm of office space in the Bucharest Business Garden project in the Orchid area of the capital, while the giant Oracle also decided at the end of 2022 to reduce its contracted office space.
