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Summer of 2019, turning point for office buildings market in Bucharest. The market will have to absorb a large volume of new buildings


The market will have to absorb a large volume of new buildings and the critical point will be summer of 2019, says the representative of the largest electrical engineering and security services company.

The year 2019 could be a turning point on the office buildings market, as it is expected to deliver a large volume of buildings that the market will have to absorb, said Fadi Rida, general manager of Global Technical Systems.

He had also added that some of the new projects will be directed to other areas of the country apart from the capital.

I expect in mid-2019 will be delivered a large volume of new office buildings that the market will have to absorb. This will lead to new important projects development in other areas from Romania, apart from Bucharest. We started to look pretty much to the country, said Fadi Rida, in the ZF Live business show. I hope that we will not get as it is in Dubai, where malls are still being built and there are mall tourists. Basically, the clientele is the same, but it moves from one store to another.

The company, specialized in software development and technology solutions for building efficiency and security infrastructure, estimates that at the end of this year is on track to achieve a turnover of approximately €30 million, the growth is expected to come as a result of obtaining a consistent portfolio of contracts that have been signed up to 80% by this date, according to the information provided by Global Technical Systems general manager.

Last year, we completed with a total turnover of over €17 million and this year we count on €30 million. At this moment, we are busy with many requests. Growth is also dictated by the appetite of companies to invest in technology, which will not stop too soon, explained Fadi Rida.

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