New Measurement Standard For Office Spaces

24/04/2014  – Expansion

Several large companies, BBVA, Iberdrola, Mapfre, Repsol and Telefonica along with real estate firms like Realia, Pontegadea, Espacio and Colonial among others, have jointly decided to establish a uniform measure for office spaces, a genuine Spanish Office Measurement Standard.

“The aim is to assure transparency which would allow international investors to compare offices in their countries with those found in Spain”, explains Emilio Colomina, director of Mutua Inmobiliaria. “Right now leasing an office space invloves lots of negotiating, especially on the square meter figure”, adds José Luis Guillermo from Inmospace.

The system creators have been inspired by the European Rics and the U.S. Boma standards. Now the rental area will be clearly defined as gross area consisting of its net area and the working space.

At present, the Spanish Office Association disposes of more than 6 million square meters of space that are owned or leased.

The next challenge of the group will be the creation of a single financial area in Madrid, instead of current six scattered around the city.



Original article: Expansión (by R. Ruiz)

Translation: AURA REE