Most important offices to be delivered in 2011, 80% empty

The area of the new office buildings due to be finalised in Bucharest this year will halve against 2010, to 135,000 square metres, but real estate developers have not found tenants for these projects, either, for the time being. Thus, 80% of space will stay vacant, taking into account contracts inked so far.

According to CB Richard Ellis (CBRE) real estate consultancy, the most important buildings scheduled for opening this year include Platinum Business & Convention Center, in Băneasa, Crystal Tower on Iancu de Hunedoara Boulevard, Swan Office Park of Pipera and Frumoasă Office Building and Magheru Plaza projects, two smaller buildings downtown.

Of these, only the building on Frumoasă Street, developed by Tănăsoiu family, has a significant occupancy rate, with Net Consulting firm due to fill more than half of the 3,100-sqm building, while for the rest of projects developers are still seeking tenants.