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ROMANIA OFFICE Q4 2023

Arghezi 4 (8,000 sq. m GLA) was the only office project delivered in Bucharest in Q4, thus bringing the total 2023 new supply to
110,500 sq. m, the lowest level since 2015. However, the Q4 2023 transactional activity was robust (116,000 sq. m), as the total for
the year exceeded 463,000 sq. m (+43% y-o-y), thus setting an all – time annual take-up record in the city, with an increase of 19%
compared with the previous record of ~390,000 sq. m set in 2019, the year before the Covid-19 pandemic.

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