1.5 million square meters, approximately 70% of the Capital’s office stock, are accumulated by the largest 50 business centers in Bucharest, whose value is estimated at around 3 billion euros, considering a price of 2,000 euros per rentable square meter, according to a ZF analysis.
40 of the 50 analyzed projects are controlled by foreign groups, with Romanian investors owning only ten of these business centers, with a cumulative area of 342,000 sqm (23% of the analyzed area). The largest office project in Bucharest remains IRIDE Business Park, in Pipera, owned by the Austrian group Immofinanz. This project will be expanded by 2016 with a 20,000 square meter building.
The largest portfolio among Romanians is held by Liviu Tudor, owner of the Novo Park and West Gate business parks, projects that are waiting for the signing of firm contracts with potential tenants to start expansion works.
Source: Imobiliare.Net
Frequently Asked Questions
What is the total value of Bucharest’s top 50 business centers?
The top 50 business centers in Bucharest are valued at approximately 3 billion euros, based on an average price of 2,000 euros per square meter.
Who owns the majority of the office space in Bucharest?
Foreign investment groups control 40 of the top 50 projects, while Romanian investors own only 10 centers, representing 23% of the analyzed area.
Which is the largest office project in the Romanian capital?
IRIDE Business Park in Pipera, owned by the Austrian group Immofinanz, remains the largest office project in Bucharest.