Outsourcing property management reaches 79 pct of new real estate projects in Romania

The percentage of outsourcing of property management services has increased over the last few years in retail and office segments. In 2017, 79 percent of new projects turned to outsourced services for real estate management activities, compared with only 24 percent in 2015.

“Initially, the local property market was managed exclusively by internal resources. For CBRE, the first segment that broke the ice in Romania in 2013 was retail through Sun Plaza, which turned to us for rental, financial, marketing, and technical services for the general management of the project, including execution, modifying and monitoring contracts. Among the great owners of shopping centers who have decided to teach large areas in the management of specialized consultant departments, I would like to mention, besides S Immo with Sun Plaza, our VIVO! Customers at national level or the Felicia Shopping Center in Iasi,” explains Luiza Moraru, coordinator of CBRE Real Estate Management Division for the Central and Eastern Europe.

Outsourcing is also felt in the office building market, where a spectacular evolution has been noted over the past three years. While 24 percent of the office building projects delivered in 2015 used the outsourcing of property management services, 57 percent adopted this mode of work in 2016. The year 2017 marked a new leap: nearly 80 percent of the office space benefited by the services of companies specialized in the field.

The development of the property management market by specialized consultants in the office buildings segment is steadily increasing:

• In 2015, the office space stock was 73,000 sqm, of which 17,700 sqm, representing 24 percent, turned to outsourcing property management services;
• In 2016, 294,000 sqm of office space were delivered, of which 167,300 m2 (57% of the total area) were administered by external teams;
• Year 2017 marked the maturity approach of this segment: out of a total of 123,000 m2 of finished office space, 79% of which was 97,300 m2, were outsourced.

According to CBRE representatives, by retail and office space, 2018 will be the year of the industrial sector in terms of increasing the number of externally managed projects. 

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