Three major office property deals in Bucharest

2010-02-04

Three of the largest office area tenants in Romania, the oil company Rompetrol, the energy provider Transelectrica and the Raiffeisen bank, have signed leases for a combined 24,000 m² of office space in the past two months, accounting for 2% of the total office area in Bucharest.
Rompetrol rented 9,300 m² over six floors in the City Gate office towers, Transelectrica rented more than half of the Platinum Center building, about 6,700 m², and Raiffeisen renewed its lease for 8,000 m² in the Charles de Gaulle Plaza.
In 2009, the number of office space leases in Bucharest fell by more than 60% in comparison with 2008. The office space stock in Bucharest fluctuates around 1.3 million m², with some 200,000 m² of unrented space, mostly on the outskirts of Bucharest.
The construction of new office building projects, such as Orhideea Towers, developed by Europolis, and Sky Tower, developed by Raiffeisen Evolution, is due to start this year and to be completed in 2012 at the earliest.