Nearly 47 pct. of the offices to be delivered this year are already rented, while 64 pct of the area to be completed in2018 is already signed. The total existing office stock in the city slightly exceeds 244,000 square metres, with 77 pct A class, offices, 10 pct. B class and 13 pct. C class. Cluj market is the second largest in Romania, after Bucharest.
”Office market in Cluj – Napoca is going through an effervescence period, both in terms of deliveries and rents. Nearly half of million persons are living in the metropolitan area of Cluj – Napoca, considering bth Floresti, basicly a new district, and the high number of students. Annually, there is a steady request of nearly 20,000 square metres of modern office spaces, considering every year nearly 6,000 students become employees, without thinking about professional reconversions”, explains Cristian Simon, Office Division director within Coldwell Banker Transilvania.
Largest part of the new office spaces this year is included in the third of The Office project (16,770 square metres rentable area) and Novis Plaza (14,171 square metres rentable area). Other projects which will deliver significant area of offices this year include Vivido Business Center, nearly 7,000 square metres and Central Business Plaza, with nearly 4,000 square metres.
Most important office projects to be completed in 2018 are United Business Center, together with the adjacent building Riviera and Scala Center.
The vacancy rate of the offices within the city is of nearly 7 pct., with an average vacancy rate of 4 ct. on the A class offices segment. Monthly average rent is EUR 11.5 per sqm on the A class office segment. (source: zf.ro)
