English
The overall surface of modern office space in Bucharest has exceeded 1 million square meters following the delivery of over 130,000 sq.m. in the first half of the year. Some 200,000 sq.m. will add by the end of the year, according to a Jones Lang LaSalle report. The company estimates that half of the space currently under construction has been leased already. Of the total 330,000 sq.m. of office space scheduled for delivery in 2008 some 100,000 sq.m. was originally scheduled for delivery last year. However, the availability of labor and financing, as well as continual price increases, slowed down construction works by as much as a year. The risk of delay is also valid for recently started projects. Over 65% of the space delivered in the first half of the year is located in the north of Bucharest. Nearby areas such as Barbu Vacarescu, Floreasca and the town of Pipera were the most wanted in the first half of 2008. The average rent for superior quality office space is some 21 EUR/sqm/month in the center-north of Bucharest and 25 EUR/sqm/month in the center. In the west of the city, the rent is between 15 and 18 EUR/sqm/month.
Over 200,000 Sq.M. Of Office Space To Be Ready By Year-End
F.A.
English Section / 26 septembrie 2008
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