Pipera is an area generally chosen by large and average corporations considering the number of employees. However, according to the research the smaller companies can also find an efficient office solution in the area, and are heading more and more towards it.
According to Global City Business Park’s representatives, apart the spaces occupied by large companies (over 200 employees), 25% of the offices in Northern Bucharest are rented by average companies (100-200 employees) and 5% by small ones (under 100 employees).
Even if those shares remained constant in the last years, the small and average companies are more and more interested by the class A offices due to their availability, lower rents and their benefice of having an office in a proper development space.
Global City Business Park, one of the main office projects in Northern Bucharest and owned by the investment fund Global Finance, has a various tenant mix, the rented office space varying from some hundreds sq. m to almost 6,000 sq. m.
The project is 48% rented by big companies, representing approx. 24% of the total rentable area, 38% by average companies occupying 19% of the total area and 14% - small companies, occupying approx. 7% of the total rentable area of the project.
Global City Business Park has 56,000 sq. m built area and 51,000 sq. m rentable A class office space, in two buildings. Moreover, the project includes 28,000 sq. m underground area with 844 parking places. The project started in October 2007 and was completed in February 2010.
Global Finance, established in 1991 in Athens, is an independent investment company, among the pioneers of the private equity and venture capital fields in the region. The operations of Global Finance include the private capital funds management, real estate development and advisory services in SEE.
In 2005, Global Finance entered the real estate market, aiming investments in Romania, Bulgaria and Serbia. Global Finance has offices in Athens, Sofia, Bucharest and Belgrade.
The company, which made more than 80 investments in 11 countries, entered the Romanian market in 1996, ever since investing in different fields, such as pharmaceuticals, technologic, telecommunications, food, recycling, insurance and real estate. (Sursa: economica.net)
