CBRE estimates 20 pc increase of project management services market this year

The real estate agency CBRE representatives estimate an increase of more than 20% in the project management services in 2018. According to the company, this trend will continue in the future because market experience has shown that investing in professional project management services generates savings that cover several times the fees of the consultants involved.

“Outsourced project management services have long been considered a luxury in Romania. Currently, the situation has changed and more and more companies have found that the added value of these services and cost management bring significant savings, ”Gabriel Balaban, head of building consulting CBRE Romania.

Among the most famous names in the CBRE portfolio, in the project management sphere are: Sun Plaza (the initial phase of the expansion), Airbus Helicopters (Braşov helicopter factory), ThyssenKrupp Bilstein (production unit for vehicle shock absorbers, in Sibiu County) or Kimball Electronics (electronic systems factory, in Timisoara).

The company also handled projects involving large office space (4,000 sqm or 8,000 sqm) in schemes developed by Skanska (Campus 6), CA Immo, Forte Partners (The Bridge) etc. The agency has performed technical due diligence services as well as project management and cost monitoring for the London Stock Exchange Group, Johnson & Johnson or Misys/Finastra.

“The due diligence component is extremely important in the selection process for an office and not only. This service usually goes hand in hand with the consultancy provided by the transaction management team, and its goal is to ensure that the target site is also the best and technically, our company working to provide our customers with integrated services in to help them achieve the best results, “added Gabriel Balaban.

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Costs for Class A offices

Regarding the average costs of setting up a Class A office, there are no significant differences between Bucharest and the rest of the country. According to CBRE estimates, average costs are generally between EUR 200/sqm and EUR 500/sqm, without taking into account the budget allocated to special IT furniture and equipment.

Usually, office floor plans include expansion to the aesthetic area and employee welfare. The well-being of office workers and the experience of working environment that provides optimal conditions are the main trends in this market segment. The latest CBRE studies have revealed that beyond functionality, comfort and safety, new generations are looking for a complete experience including the wellness side.

“CBRE is currently the only player in the real estate consulting market to have the resources to provide customers with a full range of integrated services. If, for example, we receive a request from a large company tomorrow to open an office on the local market as soon as possible, we have the capacity to handle the whole process: from searching and choosing the best location to the transaction , drafting a concept concept and providing the highest level project management and facility management services, “concluded Gabriel Balaban.

The CBRE Building Consultancy Department was set up in Romania in early 2012, and the range of services it offers includes: project management, technical due diligence, project monitoring for banks and investors, concept design, workplace consulting, change management, as well as other technical and non-technical consulting services in real estate.