Bucharest Office Marketbeat 2016

• At the end of Q4 2016 modern office stock in Bucharest surpassed 2.5 million sq. m. Throughout the year 275,000 sq. m of office spaces were delivered, this being the highest level recorded since 2009.

• For 2017 more than 190,000 sq. m of office space are planned for delivery.

• When compared to the previous year, 2016’s net take-up figure is higher by 50%. Demand for office space has increased significantly mainly because the area required by tenants for expansions and new operations (new companies entering the market & existing occupiers opening new businesses) was higher by 42% y-o-y.

• Development activity will continue going forward, given that more than 400,000 sq. m of office spaces are planned to be delivered by the end of 2018.