The modern office stock should increase in 2016 following significant office completions in New Belgrade

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At the end of 2015, modern office stock totaled 600,000 m², of which Class A amounted to 63% and Class B to 37%. Stock is expected to increase with the development of the New Belgrade CBD zone with more than 90,000 m² of buildings throughout 2016. These include developments such as the Fortyone office complex that totals 27,000 m². The first phase was completed in October 2015 for 10,000 m² and the second phase of 8,000 m² is under construction and due in Q3 2016. Market activity was dominated by the renewal of existing contracts, whilst new leases were mainly motivated by relocations. IT and Banking sectors remained the main drivers of demand growth in the office real estate market.

Source : BNP Paribas Real Estate

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