Private Medical Operators Expand Presence in Bucharest's Office Spaces

Private medical operators in Bucharest occupy over 215,000 square meters of space, with 40% in modern office buildings. In the past two years, they leased over 40,000 square meters, accounting for 2.5% of the city's total modern office space.

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Aqsa Younas Rana
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Private Medical Operators Expand Presence in Bucharest's Office Spaces

Private Medical Operators Expand Presence in Bucharest's Office Spaces

Private medical operators have significantly impacted Bucharest's real estate landscape, occupying over 215,000 square meters of space, with 40% of this area located within modern office buildings. In the past two years alone, the private medical sector has leased more than 40,000 square meters in these buildings, accounting for approximately 2.5% of the city's total modern office space of around 3.4 million square meters.

Why this matters: The expansion of private medical operators in Bucharest's office spaces reflects a broader trend of increasing demand for quality healthcare in Eastern Europe. As the private medical sector continues to grow, it may lead to improved healthcare outcomes and increased economic activity in the region.

According to Alexandru David, Head of Research at iO Partners Romania, private medical service operators strategically position their facilities near the city's primary office areas to ensure a consistent flow of customers. The top preferences for medical operators include Dimitrie Pompeiu (31%), Central Business District (21%), Floreasca – Barbu Văcărescu (18%), and Center-West (14%).

Maria Florea, Head of Office Advisory at iO Partners Romania, emphasizes the integral role of private clinics and hospitals in the office space market, despite their distinct and intricate requirements compared to traditional office tenants. "Careful analysis is essential before any decisions are made regarding suitable spaces," Florea states.

The growing demand for private medical services in Bucharest is driven by increasing incomes and the COVID-19 pandemic. Opportunities for expansion or relocation of private medical facilities to higher-quality or better-located premises, relative to potential clientele and public transportation networks, remain significant. Many areas in Bucharest, particularly major residential neighborhoods and specific office districts, still lack sufficient private medical facilities.

The private medical sector in Bucharest has experienced rapid growth, with 40,000 square meters of modern office space leased in the past two years. As incomes rise and the demand for quality healthcare continues to grow, the private medical sector is expected to further expand its presence in the city's office market, providing essential services to the population and contributing to the dynamic real estate landscape of the Romanian capital.

Key Takeaways

  • Private medical operators occupy 215,000 sqm of space in Bucharest.
  • 40% of this space is in modern office buildings, accounting for 2.5% of total office space.
  • Private medical sector leased 40,000 sqm in past 2 years, driving office market growth.
  • Top locations for medical operators: Dimitrie Pompeiu, CBD, Floreasca, and Center-West.
  • Rising incomes and COVID-19 pandemic drive demand for private medical services in Bucharest.