O1 Properties reports new lease contracts for 25,000 sq.m. in 2020

January 28, 2021. O1 Properties published business results for 2020. The company signed lease contracts for around 100,000 sq.m. of office space during the year, of which 25,000 sq.m. were new contracts. The largest volume of new lease space was at the White Square business complex (White Square and White Stone business centres).

The largest new lease contracts in 2020 are shown in the table:

Tenant

Area(sq.m.)

Building

BNP Paribas Technology

2 197

White Square

Confidential tenant

1 219

White Stone

CRCC

1790

Krugozor

Pergam Engineering

1112

LeFORT

GPB Kit

999

Lighthouse

VMWare

917

White Square

Pavel Barbashev, Chief Commercial Officer at O1 Properties, said: “The pandemic has had significant impact on the office strategies of tenants. Companies are working to optimize their arrangements by reducing or partially sub-leasing office space. Nevertheless, there is still demand for high-quality buildings with good location and infrastructure that provides additional on-site functions without the need to go out into the city, as well as landmark projects that offer image benefits (such as the programme to improve environmental performance of offices). We have successfully filled part of the vacant space, despite all the negative factors. The vacancy rate across the O1 Properties portfolio remains at an acceptable level of 8%, which is below the market average for class-A offices in Moscow."

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  1. O1 Properties reports new lease contracts for 25,000 sq.m. in 2020 28 January 2021 Download PDF