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Office Flashpoint: Company Expansions Boosts Office Occupancy in January
23 February 2018
More than 50% of the 13,717 m2 of offices allocated in Lisbon in the first month of 2018 were occupied due to existing companies’ need to increase the size of their facilities, JLL revealed in its latest Office Flashpoint newsletter.
The two most significant transactions included Fujitsu’s expansion at Torre Oriente, adding 2,085 m2, and a financial services company at the Edificio Pórtico, which took on approximately 3,000 m2.
With these two expansions, JLL is currently responsible for 50% of the area allocated in January, thereby strengthening its market share compared to the 40% at the end of last year.
“January continues the noticeable improvement in the business environment that formed the backdrop for office allocations in 2017, with several companies demonstrating the intention to expand and upgrade their facilities, as well as new companies seeking to enter the Portuguese market. This month, more than half of the absorption was motivated by expansions, and another 5% were due to the entry of new companies, for a total of about 60% of net absorption, above the average 53% registered in 2017,” Mariana Rosa, director of JLL’s Office Agency, stated.
Original Story: Construir
Translation: Richard Turner