CBRE: Bucharest university centres attract new business poles

Most new investments in office buildings have been concentrated around Bucharest's university centres, which have become increasingly attractive for real estate developers, CBRE shows.

2017-12-06 16:43:43

In Bucharest, over 300,000 people are currently working in modern Class A and B buildings, not counting the employees in the unconventional office spaces or Class C buildings. Accordingly, a total of 40,000 students enrol in Bucharest's 16 universities, representing the pool of future employees for the big companies.

Romania has become an attractive market for investments in the past years, when increasingly more foreign companies have shown interest in expanding their activity at a local level, due to the availability of qualified staff, the economic development and workforce expenses lower than other regional markets.

"We have the potential to become a regional business hub, and this is due to a superior intellectual and linguistic abilities of employees in our country," said Mihai Paduroiu, CBRE head of advisory&transaction services. "More than 90 per cent of the total number of students are proficient in English, a decisive factor and a reason why an increasing number of companies announce new investments in large Romanian cities. The local universities have understood that and have adapted their curriculum to the real demands of the labour market."