Deliveries of new office space amounted to 62,425 sqm in Bucharest last year, half compared to the level recorded in 2014.

About 360,000 sqm of office space could be delivered this year, according to estimations by real estate consultancy firm Jones Lang LaSalle (JLL).

This would be the second highest value ever recorded in Bucharest. In 2009, the new office projects delivered totaled to 375,000 sqm.

The Floreasca-Barbu Vacarescu and Dimitrie Pompeiu areas, in northern Bucharest, will see the highest volume of new office space, with over half of the total space delivered this year.

The modern office space available in Bucharest reached 2.3 million sqm at the end of last year, and could amount to 2.65 million sqm by the end of this year. When compared to other capitals in the region, Bucharest is still underdeveloped. Warsaw has 4.5 million sqm of office space whereas Prague and Budapest each have some 3.2-3.3 million sqm of office space.

editor@romania-insider.com