Exponential growth in the demand for office space. This is the conclusion of a survey authored by Jones Lang LaSalle, a global real-estate services firm specializing in commercial property management, leasing and investment management. According to JLL, in the first nine months of the year companies have leased in Bucharest office space for 8-10,000 new employees.
According to the Jones Lang LaSalle (JLL) survey, the new demand for office space in Bucharest totalled approximately 81,000 square metres, almost 40 per cent of the total surface leased by companies in the first nine months of the year. Considering an average 8-10 square metres of office space per employee, it means 8-10,000 new jobs will be created, the real-estate consultancy company’s representatives estimate.
“Almost 90 companies leased new office space in Bucharest this year. The local but especially multinational companies’ interest in opening new offices or in expanding existing spaces has returned on an upward trend in the last 2-3 years. Lately they are once again preoccupied with expansion, against the backdrop of favourable macroeconomic indicators and encouraging outlook,” Marius Scuta, head of JLL’s Offices Department, stated.
The biggest part of the new demand came from IT companies, a segment that has been the main employer in Romania in recent years, with over half of the total, or 42,200 square metres. New spaces were also leased by BPO, FMGC, health, pharma, retail and media companies, with a total of 16,500 square metres, which means offices for 1,600 persons.
The office space surface leased out in the first nine months of the year surpassed 211,000 square metres, up by 7 per cent from the 197,000 square metres registered in the same period last year. This year’s demand consisted of 81,000 square metres in new demand, 68,000 square metres in relocations from other modern buildings and 62,500 square metres in renewed contracts.
For this year company representatives estimate that the office space leasing market will reach approximately 300,000 square metres, a level comparable to the one registered last year. Bucharest has become a hub for many multinational companies, especially in the financial services, IT and BPO (business process outsourcing) domains.