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CEE REGION Belgrade tops CEE fit-out cost league – C&W

Office & mixed-use development
Belgrade currently has the highest fit-out costs in the CEE and SEE regions, followed by Prague and Warsaw, according to research by Cushman & Wakefield.

The average fit-out cost in Belgrade per sqm comes to EUR 1,121, while in Prague the average cost is EUR 1,037 and in Warsaw EUR 1,010. In the EMEA region, London has the highest fit-out costs, at EUR 2,798 per sqm on average, according to C&W’s EMEA Fit-Out Cost Guide,

The Covid-19 pandemic posed a real challenge for the entire construction sector. However, in the EMEA region it has remained resilient, and after an initial slowdown companies have returned to a reasonable level of profits. Despite the increased investment activity, the uncertainty related to the return of employees to offices is still noticeable on the market due to the implementation of the hybrid workplace model and the focus on savings on occupancy and office fit-out costs. The war in Ukraine, tightening supply chains and the challenges posed by the availability of construction materials have directly led to upward pressure on fit-out costs per sqm this year.
Bogumiła Kompowska, an associate and design & build lead in the project and development services department at Cushman & Wakefield in Warsaw

In Warsaw, the costs for furniture, fit-out, audiovisual and IT systems and professional services account for 15 pct, 63 pct, 12 pct and 10 pct of the total costs, respectively.

Despite the turbulence of the last few years, the office is very much alive and, in our opinion, will continue to serve as a work, meet and as a social hub for corporate occupiers. Office design will evolve, and sustainable solutions and materials will become mainstream.
Andrew Frizell, an international partner and head of project & development services at Cushman & Wakefield

C&W claims that due to soaring inflation and the conflict in Ukraine, office fit-out costs have risen sharply because of the increasing costs of material and labour. As a result, contractors are reviewing their project pipelines and factoring in larger ‘risk’ allowances, while the last two years have seen the approach transformed to creating user-friendly and multifunctional offices. There is now a greater focus on flexibility, while there has also been a reduction in the number of assigned desks. Smaller and larger meeting spaces are now being provided as well as chill-out space.

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schedule 08 December 2022
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schedule 08 December 2022
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Office & mixed-use development

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schedule 08 December 2022
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schedule 08 December 2022
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schedule 07 December 2022
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schedule 07 December 2022
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schedule 07 December 2022
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schedule 07 December 2022
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schedule 07 December 2022
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schedule 06 December 2022
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schedule 06 December 2022
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schedule 06 December 2022
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schedule 06 December 2022
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schedule 06 December 2022
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Office & mixed-use development

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schedule 05 December 2022
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schedule 05 December 2022
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Office & mixed-use development

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schedule 05 December 2022
Opr./edited by ANZ

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Warehouse & industrial

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schedule 05 December 2022
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schedule 05 December 2022
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Latest in Office & mixed-use development

schedule 08 December 2022

Chemical tenant for P180

A global distributor of chemical raw materials has become the latest tenant of the P180 office building in Warsaw. The company will occupy app. 1,500 sqm of office space.

schedule 05 December 2022

EPAM expands into Brain Park

Polish IT specialist EPAM has leased almost 8,500 sqm of office space in Brain Park in Kraków, which is being developed by Echo Investment.

schedule 05 December 2022

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schedule 30 November 2022

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schedule 30 November 2022

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schedule 30 November 2022

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schedule 29 November 2022

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schedule 24 November 2022

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schedule 22 November 2022

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schedule 21 November 2022

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schedule 18 November 2022

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schedule 16 November 2022

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schedule 16 November 2022

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schedule 15 November 2022

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schedule 14 November 2022

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schedule 10 November 2022

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schedule 10 November 2022

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schedule 09 November 2022

CTP Q3 2022 trading update

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schedule 08 November 2022

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schedule 08 November 2022

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