Q View on the
Q1 2022
TABLE OF CONTENTS • Where tenants go
1
• Griffes @ SEE Real Estate Awards
2
• Good news from Muse
3
• How to reach us
4
22,900
Banea
• Ne • Ca • Go • Excellent parking ratio • Large floor plates • Proximity to largest park in Bucharest
31,000
Location, location, location – 23% of tenants (respectively 83,000 sqm) preferred [centrally located buildings] when leasing new office space since the beginning of 2021. Excellent accessibility and great range of facilities within walking distance attracted tenants to relocate or renew in the city centre. During this period, 60,000 sqm office space has been delivered to the market.
20,000
Where tenants go Piata Presei
Expozitiei
Floreasca -
67,000
11,400
• Newly built office compounds • Proximity to residential areas • Easy access to public transportation
• Best served • Proximity to
Since 30% of office demand was driven by the tech sector, it should come as no surprise that most of them chose to be in the proximity of a large pool of technical skills, represented by the Polytechnic University and the ecosystem that crystallized around it.
105,100
73,000
Center West
Bucharest - 2021 & Q1 2022 356,500 sqm
Total office demand (sqm)
317,300 sqm
New deliveries (sqm)
• Great pool of techni • Excellent access to • Large floor plates
In terms of building type, half of the office demand turned to campuses, while a quarter chose towers. Campus like buildings have usually large floor plates, open-plan, non-hierarchical offices designed to foster collaboration between departments rather than hinder it. On the other hand, office towers offer visibility and representativeness, especially as they are typically located in business districts and prime areas of the city. Boutique office buildings were also highly appreciated and attracted 12% of the transactions.
asa
45,500
earby airport ampus like buildings ood value for money
16,500
• Competitive prices • Large floor plates • Easy access to northern Bucharest
28,400
65,000
d office district o business partners
Traditional CBD: Victoriei
Downtown • Boutique office buildings • Prestige and personality • Wide range of amenities within walking distance
• Close to major residential areas • Large floor plates with terraces • Vast green areas
33,000
21,700
ical skills o public transportation
44,400
• Reputation • Coagulates blue chip companies & institutions • Excellent connectivity with all other areas • Diversity of amenities
30,200
52,700
As workplace functionalities change, large terraces and green spaces become more attractive for office tenants and therefore a selling point companies use for attracting employees back in the office. 30% of the office space leased since the beginning of 2021 is located in buildings that facilitate and accommodate outside collaborative spaces, where technology blends with nature.
Dimitrie Pompeiu - Pipera
- Barbu Vacarescu
Center South
Technical characteristics of an office building have always been on the check list for decision makers, and lately even more. Thus, more than 50% of the new leases were signed within less than 5-year-old buildings.
Griffes @ SEE Real Estate Awards
The
SEE Real Estate Awards Gala is the only event that brings together the most active international and local developers, bankers, investors, lawyers and real estate professionals operating in the South Eastern European region. During the gala that took place on March 31st, Griffes won two awards including Agency and Professional Woman of the Year for the company’s co-Managing Partner Andreea Paun. We are honoured to have been recognised for our successful advisory operations on the market and our intensive growth rhythm. Our success is the result of hard work and great collaboration we have with our partners, for which we are very grateful. The achievement tops Griffes’ 5 years of activity on the Romanian real estate landscape.
Good news from Muse Our exclusive project Muse is growing day by day. The site is buzzling and we have just reached the first level of the construction.
We are now working on the structure and creating facilities in the building: a bistro, a caffe and a secluded garden will be hosted on the ground floor.
For office or retail space enquiries, feel free to contact us at:
iuliana.vintila@griffes.ro
How to reach us
I
I +40.721.711.634
I
I +40.727.823.036