Bucharest accounted for 75% of the total office space that was leased across major Romanian cities in Q1 2023 according to a study by Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance. 

Software industrial company Honeywell has expanded its lease in Globalworth’s BOC office building in Bucharest and will occupy over 24,000 sqm.

Romanian developer One United Properties has sold Bucharest-based One North Gate, an office building spanning 4,500 sqm with an occupancy rate of 80%, to Element Investiții Imobiliare, owned by domestic investors, in a deal worth €6 million. 

Romanian developer Iulius has announced plans for a new office building in the Palasi Iași complex. This will be the eight-office building in the complex that will be developed following an investment of around €40 million. 

E-commerce player eMAG has leased 10,000 sqm in Globalworth Square in Bucharest for its new HQ in one of the largest office leasing deals closed in the year to date.  

Cushman & Wakefield has summarized the first quarter of 2023 and trends shaping the Polish office market. While development activity in the core office locations continues to slow, occupier demand appears to be recovering, particularly in regional cities. Prime office rents in central locations are, however, on an upward trajectory.

Q1 2023 saw a recovery in the Prague office space market. Growing demand may be met with lower availability of new premium space in the coming years, as only a smaller number of new projects are currently under construction. This may affect the currently stabilized price level of rents. Serviced office centres and ESG-compliant projects are on the rise. These findings come from a quarterly market survey conducted by Colliers.

Cushman & Wakefield has summarized the first quarter of 2023 and trends shaping the Warsaw office market, which came third among key European office locations for take-up. The Polish capital is entering a phase of renewing leases made in the peak years of 2018-2019. Another positive development is the prospect of several new construction starts in the city’s central zones. According to Cushman & Wakefield, new projects will experience the strongest upward pressure on rents.

The largest office complex in Central and Eastern Europe – Business Park Sofia, started its long-term transformation into a greener and more active urban space that offers complete experiences, recreation, and culture to its residents and guests.

Following other large corporations, New-York based asset manager BlackRock will order a massive return of its employees in the office starting this autumn. The company added a day to its current requirement of three days a week in the office in a bid to boost collaboration and training of its employees.