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News from Members C&W Echinox: The number of employees in modern office buildings in Bucharest could reach 270,000 by the end of the year

C&W Echinox: The number of employees in modern office buildings in Bucharest could reach 270,000 by the end of the year

by Cushman & Wakefield Echinox August 30, 2018

The number of employees in Class A and B office buildings in Bucharest has reached about 253,000 at the end of the first semester of 2018, a slight increase compared to the end of 2017.


In H1 2018, the number of employees working in companies with headquarters in modern office buildings in the capital increased by 3,000, according to estimates of Cushman & Wakefield Echinox.


Considering the office projects whose delivery is announced for the second half of the year, the number of employees in modern office buildings in Bucharest could rise to 270,000 by the end of 2018.


Mădălina Cojocaru, Partner, Office Agency C&W Echinox: „As mentioned in our report, the number of employees working in Class A and B office buildings is steadily increasing. As the labour force availability is reduced, tenants are more and more interested in occupying office spaces in buildings that will support them to attract and retain talented employees. Thus, the owners and companies that manage office buildings are also starting to be involved in the process of attracting new talents and retaining the existing employees, proposing, for example, for common spaces a modern interior design with coworking areas, which creates an animated atmosphere meant to encourage the interaction of different departments. Another example is the diversification of the services offered, besides the traditional ones (restaurants, commercial spaces, etc.). The owners initiate a series of sporting events or entertainment activities to develop and enforce a micro-community concept.”


Pipera Sud (Dimitrie Pompeiu), Barbu Văcărescu - Floreasca and the Western area still occupy the top three positions in terms of number of employees in modern office buildings. Thus, approximately 52,000 people work in office buildings in the Pipera Sud area, around 45,000 in the Barbu Văcărescu - Floreasca area, and in the West approximately 38,500, the three areas concentrating 63% of the employees of the modern office buildings in Bucharest.


The number of employees is calculated according to the office destination and the occupancy rate recorded for each office area at the end of the first semester of 2018.


The majority of office buildings with the highest square meter per employee ratio are located in the Central and CBD areas (Central Business District - Victoriei Square - Charles de Gaulle Square), which mainly host company headquarters from consultancy, insurance, banking or pharmaceutical sectors.


The lowest square meter per employee ratio is still in the Pipera Sud (Dimitrie Pompeiu) area, a back office location, a destination chosen especially by outsourcing companies.


Cushman & Wakefield Echinox is one of the largest real estate consultantancy firms in Romania, active in all real estate market segments. In the first half of 2018, the company's office agency rented spaces with a cumulative area of approximately 30,000 square meters in office buildings in Bucharest and the country.


Cushman & Wakefield Echinox is the exclusive affiliate of Cushman & Wakefield in Romania, owned and operated independently. With a team of over 50 professionals and collaborators, offers a full range of services to investors, developers, owners and tenants across all segments of the real estate market, including the residential market.

For more information, visit our website cwechinox.com


Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. Find out more on www.cushmanwakefield.com

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