Globalworth plans new office construction

Globalworth is in the final phase of analyzing the opportunity to start new office construction, almost 5 years after the completion of Globalworth Square.

“We are in the final stages of analysis to start new developments. Half speculative, half pre-leased. There is a clear need for new developments. If a company wants to move to Bucharest now, it finds that it does not have much choice in terms of new buildings. The most modern building in Bucharest was delivered in 2021, and if you are planning to move in 2027, the building will be 6 years old. For some we already have authorization, and for others we are working on it,” says Andrei Boca, Leasing Director at Globalworth.

Andrei Boca said that, in the first phase, during the pandemic, Globalworth faced a reduction in some of its tenants, and the spaces received back were very quickly absorbed by the market, by companies that moved from inaccessible areas or from class B buildings, such as eMag and Coca-Cola.

“In the past, we assumed to leave a floor or two of a building, for possible phases of tenant growth. In 2025, we are fighting to regain this flexibility, because almost all buildings are fully occupied, which leaves very little room for maneuver for those who want to grow. We have cases of companies that have reduced their footprint and that want to grow again. They have a number of employees, which corresponds to a number of jobs. During this period, companies have grown, but the number of jobs has remained unchanged and overlaps of employees in the office work schedule may occur,” explains Boca.

Source: Profit.ro