2016 saw the highest developer activity in the history of the Polish office market. New supply is expected to remain strong in 2017 with 1.4 million sqm of new space currently under development. JLL published its preliminary summary of Poland's office market performance in 2016

JLL has been selected by the new owner of Swan Office & Technology Park as property and asset manager of the office building located in the Northern part of Bucharest. JLL's responsibilities comprise maintaining relations with tenants and extensive operational management services including overseeing subcontractors and maintenance costs.

Located at 111 Marszałkowska Street in Warsaw, the Saski Point office building has received the BREEAM In-Use International certificate with a “Very Good” rating in Building Management and Asset Performance. Cushman & Wakefield property manages the facility on behalf of CA IMMO. 

Arcona Capital has entered into a long-term lease agreement with Knorr-Bremse Group to lease a total of 2,700 square meters of office space in the administrative building in the city centre of Liberec. The building will then be fully occupied. Arcona Capital, manager of property portfolios in Central Europe, owns nearly 60 commercial properties in the Czech Republic.

Skanska has sold the Nordic Light office building in Budapest, Hungary, to the real estate funds of Erste Alapkezelő Zrt. – one of the subsidiaries of Erste Asset Management GmbH. The value of the transaction is €67 million. The transaction has been recorded in December, with the transfer of the property scheduled for the first quarter of 2017. Skanska has also started its newest office development in the Hungarian capital.

Nordea Bank AB Branch in Poland is one of the new tenants of Olivia Star, a newly constructed building of the Olivia Business Centre in Gdańsk. It leased two floors there occupying nearly 2600 sqm. Colliers International supported the Scandinavian firm in this transaction.

Prague's office market has witnessed several records this year: the lowest annual office supply in history and one of the highest demand volumes. By the end of 2016, Prague´s office market will have 3,245,000 sqm of modern offices. At the same time, the Czech capital recorded the lowest annual office supply in history with only 33,600 sqm in 6 projects, On the contrary, over 180,000 sqm of new office space will be delivered to the Prague market next year. 

Warsaw’s office stock topped 5 million sqm in 2016. High growth dynamics and changing market conditions have led to inter- and intrazone tenant migration in the past two years. Building age is still central to the choice of a suitable location. Cushman & Wakefield presented its findings in a report on the future of the Warsaw office market.

Skanska has attained an occupancy permit for the third building of Silesia Business Park in Katowice. The office complex is one of the biggest office parks in Katowice and already has lease agreements signed for over 23,000 sqm of space.

On 1 December 2016, international real estate developer HB Reavis and Savills Investment Management on behalf of a Global Pension Fund client, concluded the sale agreement of two of buildings within Gdanski Business Centre in Warsaw. In one of the largest transactions of the year in Poland and also in the CEE region amounting to €186 million, Savills Investment Management has acquired buildings A and B of the Gdanski Business Center, totalling 48,000 sqm.