28 January, 2021
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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