65
65

Take-Up of Office Space Grows 197% in September

16 October 2017

In September, 22,762 m² of office space was taken up by companies in Lisbon, 197% more than in the same month last year, bringing the total volume this year to 113,471m².

The numbers were reported in JLL’s monthly Office Flashpoint analysis, according to which the consultancy has managed a 34% share of the negotiated area since the beginning of the year.

Maria Empis, Director of Strategic Consulting and Research at JLL, commented that “September’s activity, the most active month so far, reflects the growing demand for large areas since only five businesses with areas greater than 1,000 square meters were responsible for about 58% of the monthly tally.” She added that “also in cumulative terms, the number of large operations continues to grow, which shows the vitality of the capital’s economic base.”

In the month in question, Prime CBD was the most dynamic zone, accounting for 4 of the five operations with more than 1,000 square meters. TMT’s & Utilities continued to lead, with 42% of the area occupied in September and 23% of the area taken since January.

40 office operations were closed in Lisbon in September, in an average transacted area of 569m², similar to the 570m² of the average of the first nine months of the year. 50% of the area represents expansions or entry of new companies in the market, both in the year to date and in September.

Original Story: Vida Imobiliária – Ana Tavares

Translation: Richard Turner