BUCHAREST OFFICE Q4 2022
Bucharest, October 2020: The Râul Doamnei – Eroilor section of the M5 metro line, inaugurated in September, will shorten the travelling time for 150,000 Bucharest inhabitants who live near the 10 newly built stations, also offering a quick travel alternative for almost 20,000 employees working in companies whose office buildings’ headquarters are located in the Eroilor – Progresului – Politechnica areas.
The Râul Doamnei, Constantin Brâncuși, Valea Ialomiței and Romancierilor metro stations, located at the western end of the new metro line, each have a catchment area of between 18,000 and 22,000 people who can access the metro within a 10-minute walk, according to data from the Cushman & Wakefield Echinox real estate consulting company.
At the opposite end, the residential density decreases to 8,000 – 10,000 inhabitants near the Orizont, Academia Militară and Eroilor stations, as these areas are office development hubs. Buildings with a total leasable area of 191,000 square meters are located in the extended vecinity of these metro stations, including here the projects from the Progresului (AFI Tech Park and Green Gate) and Politehnica (Campus 6, The Light) areas where between 18,000 and 20,000 employees work under normal circumstances.
Moreover, additional spaces of around 200,000 square meters are curently planned or under construction in those areas. The largest projects under construction are One Cotroceni Park (75,000 sq. m that will be delivered in two phases near the Academia Militară metro station) and Campus 6.2 and 6.3 (41,000 sq. m which can be accessed both via the Politehnica metro station, as well as via the new Orizont metro station, located at around 1 kilometer away).
The Râul Doamnei – Eroilor section has a total length of 7.2 km and is the first part of the M5 metro line that should connect the Drumul Taberei and the Pantelimon neighborhoods.
Vlad Săftoiu, Research Analyst, Cushman & Wakefield Echinox: “The real estate market has been and still is in a period of continuous development which has not often been doubled by infrastructure investments from the authorities. The inauguration of the first Drumul Taberei metro section is a huge step forward regarding a highly populated area, which did not have a direct connection to the fastest mean of public transportation, and which will now benefit from higher mobility, also pertaining to the commuting time to and from work. If we take into account the current office buildings in the area, representative buildings for the local market, such as AFI Business Park, AFI Tech Park I, Campus 6.1 or The Light One, as well as future major developments such as One Cotroceni Park and the next phases of the above mentioned projects, we can estimate that up to 40,000 employees will be able to benefit from this important infrastructure project.”
Cushman & Wakefield Echinox is a leading real estate company on the local market and the exclusive affiliate of Cushman & Wakefield in Romania, owned and operated independently. The team of over 60 professionals and collaborators offers a full range of services to investors, developers, owners and tenants.
Cushman & Wakefield, one of the global leaders in commercial real estate services, with 53,000 employees in over 60 countries and € 8.8 billion in revenue, provides asset and investment management consulting services, capital markets, leasing, properties administration, tenant representation, design and evaluation services. For more information, visit www.cwechinox.com.