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Published byJoy Preston Modified over 9 years ago
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Think outside the Bucharest box
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4 emerging locations in Romania 2 Bucharest - the 6th largest city in the EU, with an official population of close to 2 million inhabitants Like Poland, but unlike the other CEE countries (Hungary and Czech Republic) Romania has a large number of significant secondary cities – 20 with over 100,000 inhabitants The major regional centers in Romania are the cities with over or close to 300,000 inhabitants, namely Cluj-Napoca, Iasi, Timisoara and Brasov Growing sophistication in the range of real estate options available in these cities Interest in the secondary cities expected to increase, fuelled by the growing competition for qualified employees in Bucharest
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Cluj-Napoca Photo: ©Tudor Cenescu
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The Office (20,000 m² GLA)Liberty Technology Park Ph. 1 (9,000 m² GLA)United Business Center (17,000 m² GLA) Cluj-Napoca 4 The second largest city in Romania (324,576 inhabitants) Steady growth of population during the last years 2 nd largest academic center : 10 public and private universities (> 60,000 active students) One of the largest modern office stocks among Romania’s regional cities - 120,000 m² Impressive pipeline (>105,000 m²)
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Iasi Photo: ©Tudor Cenescu
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Iasi 6 The largest municipality in the Moldova region and the fourth largest in the country (290,422 inhabitants) The oldest and the third largest academic center : 10 public and private universities (> 48,000 active students) The largest office stock outside Bucharest – 142,000 m² Excellent alternative to the capital city for foreign BPOs and SSCs from a cost perspective United Business Center (30,000 m² GLA)Tudor Business Center (5,500 m² GLA)Iasi Business and Bio-Technology Campus (70,000 m² GLA) – planned
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Timisoara Photo: ©Tudor Cenescu
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Timisoara 8 The third largest city in Romania (319,279 inhabitants) Excellent planned and existing infrastructure One of the largest technical universities in CEE Modern office stock estimated at approximately 100,000 m² Demand generated by the international tenants searching for flexible spaces and extension options CBC (16,500 m² GLA)Optica Business Park (11,000 m² GLA)Open Ville (89,000 m² GLA) - planned
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Timisoara Brasov Photo: ©Tudor Cenescu
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Brasov 10 253,200 inhabitants Excellent location (approximately 170 km away from Bucharest) Planned airport and highways connecting it with Bucharest and Budapest Total office stock of approximately 90,000 m² Demand generated by occupiers relocating form Bucharest Brasov Business Park (20,000 m² GLA)Coressi Business Park (15,000 m² GLA)Brasov Business Park 2 nd phase (20,000 m² GLA) - planned
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12 International destinations The new ‘factories’ of the major cities in Romania Cluj-Napoca HP Genpact Evalueserve Office Depot Bombardier Solution Emerson E.ON Yander Iasi Amazon Development Center Continental Automotive NESS Endava XEROX Timisoara HP S&T Wipro Microsoft Bosch Communication Center Siemens IT Solutions Alcatel Lucent Continental Brasov CGS Siemens IT Solutions IBM CDG DCI Database Wind Technologies Bucharest HP IBM Oracle EMEA Deutshce Bank Microsoft WNS Global Solution CGS Societe Generale Solutions Genpact Ericsson Huawei 34 International destinations 6 International destinations 67 International destinations Source: KPMG
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Office market in the regional cities and Bucharest Technical specification in the secondary cities are similar to the one in Bucharest Real estate cost gap is not that wide between Bucharest and secondary cities, considering that occupiers usually compare prime projects in regional cities with quality assets located in semi central markets in the capital city 12 Rental levels for large IT occupiers Stock per 1,000 capita in Bucharest and the secondary cities
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For further details, please contact: Marius Scuta Head of Office Agency and Tenant Representation Tel: +40 21 302 34 00 marius.scuta@eu.jll.com Jones Lang LaSalle Victoria Center 145 Calea Victoriei, 10th floor Bucharest, Romania
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