Globalworth, real estate developer owned by the businessman Ioannis Papalekas, currently owns the largest office area in Romania. With more than 210,000 sq. m, have seven important projects locally and another three in development, with a total area reaching nearly 150,000 sq. m. After the completion of the projects in development – Bucharest One, Gara Herastrau and Globalworth Campus – the total area owned by the company will exceed 350,000 sq. m and a market value of EUR 500 million.
The second place in the top belongs to Immofinanz, a company which developed eight office projects locally and is preparing the development of an additional 20,000 sq. m in the first phase of the Metroffice project. After the completion of this project phase, the available office stock of the company in Romania will exceed 200,000 sq.m.
Next in the top is Genesis Development, a company owned by the businessman Liviu Tudor, which has a stock of 150,000 sq. m and plans to add 30,000 sq. m to its projects Novo Park and West Gate.
According to a recent study of JLL, the new office deliveries totalled 62,425 aq. m last year, half of the level registered in 2014 and the estimations for this year aim the completion of more than 360,000 sq. m, the second largest value ever registered in Bucharest (after the area delivered in 2009, 375,000 sq. m)
Most of the new office will be developed in Floreasca - Barbu Vacarescu and Dimitrie Pompeiu – more than half of the total scheduled for this year.
The total stock reached 2.3 million sq. m in the end of last year, so in 2016 the market will see a total of 2.65 million sq. m. (source: wall-street.ro)
