Bucharest office leasing down 20% in 2024
Bucharest recorded a 20% decline in office leasing, to 339,000 sqm, in 2024, compared to the previous year, although it remained above the five-year average, according to a Colliers report.
Bucharest recorded a 20% decline in office leasing, to 339,000 sqm, in 2024, compared to the previous year, although it remained above the five-year average, according to a Colliers report.
Evo Properties, the owner of London & Oslo office buildings in Western Bucharest, has reached a 50% lease rate this year and aims to reach an occupancy rate of 85% by the end of 2025. At the same time, it continues to transform the project into a mixed-use hub that will include a premium hotel.
Meta Estate Trust has invested in a plot of land near Victoriei Square in central Bucharest, where it plans to develop a building that will be leased to a chain of private medical clinics.
In this mandate, Cushman & Wakefield Echinox is focused on creating the right mix of tenants, responding to the needs of the customers in the area.
CTPark Deva enjoys an ideal geographical location in Transylvania, in the heart of Romania, making it perfect for central distribution centers and manufacturing activities.
The lease renewal is one of the most significant transactions this year, both in the Cluj-Napoca market and in the office market overall.
Very few projects in Bucharest are expected to be delivered in the next two years: only 15,500 sqm in 2024 and 8,000 sqm in 2025.
According to data presented in November 2024 by the governor of the National Bank of Romania (NBR), Mugur Isărescu, the inflation forecast for the end of 2025 is estimated at 3.5%.
Government representatives have participated in a series of consultations with Romania's international financial partners to analyze latest financial and economic developments.
On a gross basis, compared with the same quarter in 2023, GDP in the fourth quarter of 2024 increased by 0.7%.
The project aims to reconfigure, modernize and increase the capacity of the Perișoru power line by replacing the line over a length of about 35 km.
The facility from Giurgiu manufactures spiral welded steel pipes with diameters up to 2.540 mm used in the construction of pipelines.