Work on real estate office projects in Bucharest continue, albeit at slower rate

Office buildings totalling about 450,000 square meters are under construction in Bucharest, with completion scheduled in 2020 to 2022, and the developers have kept the construction sites active, with all the necessary sanitary protections for workers.

The approximately 450,000 sqm will be delivered over about two and a half years and will bring the office market in Bucharest to about 3.5 million sqm.

So far, work on no construction site has stopped due to the coronavirus pandemic, but measures have been taken to protect workers.

Although according to unofficial sources about 20% of construction companies have stopped working and only around 40% have remained completely active, Economica.net points out that activity has not been discontinued on any office project site.

The most active developers are those controlled by Romanian investors: Forte Partners, controlled by Geo Margescu and the Jabra brothers, which develops four office projects with a total area of over 63,000 sqm, and One United Properties with a total of 127,560 sqm under construction. Third by the number of ongoing projects is Swedish company Skanska, with Campus 6.2, Campus 6.3, already for sale, and Equilibrium, with a total area of 77,900 sqm under construction.

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