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Real Estate: Office spaces in Bucharest rented for 8,000 to 10,000 new employees in the first nine months of 2015
Companies rented, in the first nine months of 2015, office spaces in Bucharest for 8,000 to 10,000 new employees, according to a study released on Tuesday.
Most of the new demand came from IT companies, a segment that has been the main employer in recent years in Romania, with over half of the total, 42,200 square meters respectively.
The new demand for office spaces in Bucharest totaled, according to the Jones Lang LaSalle (JLL) study, approximately 81,000 square meters, almost 40pct of the total area rented by companies in the first nine months of 2015. Given an average of 8 to 10 square meters of office allocated to an employee, it means that 8,000 to 10,000 new jobs will be created, say the representatives of the real estate consulting company.
"Almost 90 companies have rented new office spaces this year in Bucharest. The interest of local companies, but especially of multinationals, in opening new offices or expanding the existing spaces, has resumed its upward trend in the last two to three years. Lately, these have been concerned again with expansion, in the context of some favorable macroeconomic indicators and the encouraging prospects," said Marius Scuta, the head of JLL Office Department.
For this year, the company's representatives estimate that the office space renting market will reach 300,000 square meters, comparable to that of last year. Bucharest has become the hub for many multinational companies, especially of those operating in financial services, IT and BPO (business process outsourcing).