Developers To Deliver 25,000 Sqm Of Office Premises In Bucharest In 4Q
Developers will complete office buildings in Bucharest with a total surface of 25,000 square meters in the final three months of the year, half of the surface launched in the third quarter, realty consultants CB Richard Ellis said Wednesday.
The new office buildings launched in the third quarter, Platinum Business & Convention Center, Golden Blitz OB and Grawe II, increased the stock by 49,700 sqm. This was the highest level of new deliveries seen this year, up 65% compared to the second quarter and up 36% on the first quarter, said a CBRE report. In the fourth quarter there is a 25,000 sqm surface of office buildings set for completion.
Buildings set for delivery in the final three months of the year include Elite BC, CrystalTower and Barbu Vacarescu OB, according to the report.
Bucharest office buildings have a vacancy rate of 15.9% right now, and the rate is on a downward trend.
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