Office &amp; mixed-use development

According to Axi Immo’s summary of the office market activity, 2022 was a good, strong year on Polish market. After a downturn, it was time for a long-awaited boom in demand. Companies have adapted to new working conditions and encourage employees to return to their offices. On the other hand, we will see lower development activity in both Warsaw and regional office markets in the coming quarters, which should last until 2024.

Hungary ODD in the CityZen Budapest

Odd Consulting has leased offices for its team in the CityZen building in Budapest. The office building, which is managed by ConvergenCE, is thus fully leased.

Romania Equilibrium 1 fully leased

SMS Metallurgy Romania has signed a lease for office space in the Equilibrium 1 building in Bucharest, securing 100 pct occupancy. The company will start its operations in the facility in July 2023.

Romania 275k of offices on its way outside Bucharest

According to the Cushman & Wakefield Echinox Office Market Regional Cities report, the modern office stock should reach approx. 1.3 mln sqm in the next 5 years. Developers announced the construction of more than 275,000 sqm of new office projects in the major regional cities – Cluj-Napoca, Timisoara, Iasi and Brasov.

Poland Warsaw offices buoyant in 2022

20 February 2023

In 2022, the Warsaw office market recorded one of the highest levels of demand in history at over 860,000 sqm, with its structure including a preponderance of new leases and relocations, as well as expansions over renegotiations. According to Savills, nominal rents are stable and rising mainly due to indexation, however service charges represent an increasing proportion of the total rental costs.

Czech Republic Prague offices stabilising

17 February 2023

According to a survey by Colliers, the Prague office market should grow to the 4 mln sqm mark by 2025. Although the supply of newly completed space increased by 34 pct year-on-year, the total volume was again below the long-term average of approx. 130,000 sqm per year. Yet, 2023 is expected to bring about some changes. This is mainly due to developers' plans to start construction of up to 300,000 sqm of office space.

Germany Tichelhaus already fully let

14 February 2023

Quest Investment Partners has rented the entire office space of the currently developed Tichelhaus property in Hamburg. The telecommunications company o2 Telefónica will move to the new 7,000 sqm location at the end of 2024.

Romania Equilibrium 1 announces a new tenant

10 February 2023

Opr./edited by JC

The European online travel agency FlyGo is relocating its Bucharest offices to Equilibrium 1, the first building of the Equilibrium complex developed by Skanska in the Northern area of the capital. With over 15 years of experience in Europe, the company offers its customers low-cost and regular flights.

Slovakia New office for Flaga in Bratislava

10 February 2023

Flaga, a liquid gas supplier operating in Slovakia, will move into a new office in May 2023. The company has leased 300 sqm in Westend Square in Bratislava.

Panattoni with a bigger office in Silesia

09 February 2023

Panattoni has moved its regional branch to new offices on the 27th floor of the .KTW II office building in Katowice. The company took up 900 sqm of space created by the Panattoni Office Project Manager with the help from the Massive Design architectural studio.

Poland Infinity at your service

09 February 2023

More companies are joining the group of tenants in the Wrocław office building Infinity, developed by Avestus Real Estate in cooperation with its business partner Alchemy Properties. Thus, the retail and service area, located on the ground floor of Infinity, is almost fully leased.

POLAND OmniOffice to open in Warsaw Unit

01 February 2023

Opr./edited by NN

Polish serviced office operator OmniOffice has leased 3,090 sqm in Warsaw Unit from Ghelamco.

Romania Bucharest attracts with competitive rents

01 February 2023

Around 500,000 sqm of office spaces are unoccupied in Bucharest, reflecting a vacancy rate of 15.2 pct. 50 pct of the total vacant spaces can be found in buildings developed over 15 years ago, most of them requiring investments to attract new tenants.

Romania Egis moves to America House

31 January 2023

French engineering and construction group Egis has leased 1,100 sqm in America House in Bucharest. The Romanian branch of the company will move into its new headquarters in the summer of 2023.

Poland GTC blooms in Warsaw

30 January 2023

Opr./edited by JC

GTC closed the year by achieving a very high occupancy rate for its office buildings in Warsaw. Particularly important for GTC's result was a contract-laden end of the year. The company signed office leases from its Warsaw portfolio for nearly 20,000 sqm, 34 pct of all transactions were new tenants.

Poland PINK’s data on the regional office market

30 January 2023

Polish Chamber of Commercial Real Estate (PINK) has published figures summarizing office market in major regional markets in Poland for Q4 2022. The data is sourced from advisory companies BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark Polska, Savills) and includes information on existing modern office stock, new completions, take-up volumes and vacancy rates.

Poland At work by the lake

30 January 2023

Three new tenants are moving into Malta Office Park, a Poznań office complex located by the Malta Lake. The total area covered by the contracts is nearly 750 sqm of A-class office space.

Poland Interest and optimisation

27 January 2023

In 2022, the demand for offices in Warsaw exceeded 860,000 sqm. The highest tenant activity could be seen in Q1 and Q4 of the previous year. Traditionally, most Warsaw offices were contracted by companies from the financial sector, business services and the IT industry.

HUNGARY Orbico drinks in H2Offices

26 January 2023

Opr./edited by NN

Logistics provider Orbico Hungary has leased 1,253 sqm of office space in the first phase of H2Offices complex in Budapest.