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The real state of office real estate

A few years ago developers were eagerly building office space. Now the vacant stock is generating total monthly losses of EUR 6 million for its owners By Roxana Cristea

October 2011 - From the Print Edition

5 Photos
However, builders and agents are optimistic and hope that in the near future the market will recover, after big companies announced their arrival in Romania, the construction of new projects began and the market started to see pre-lease contracts again.
“Soon we will start to build a new project in Piata Presei Libere – a 26-floor green office building of 35,000 sqm which will require an investment of about EUR 60-70 million,” Shimon Gallon, general manager of GTC, told The Diplomat-Buchare...

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