Office developments in Bucharest next year to increase stock by 15%

Office developers will deliver some 382,200 sqm of office space in Bucharest next year, or 15% of the current office stock. Two-thirds of the new office space will be located in the north of Bucharest, whereas 15% will be in the west of the city, according to real estate consultancy CBRE Romania. About 41,600 sqm of office space will be due by the end of this year. The most important opening is AFI Park 4 and 5, developed by AFI Europe. The office stock in Bucharest currently amounts to some 2.2 million sqm, and could exceed 2.5 million sqm next year. The office vacancy rate reaches 13.1%, which means that about 300,000 sqm of offices are not occupied. editor@romania-insider.com