ARTICLES LABELLED WITH TAG office

It took 17 months for Avestus Real Estate to develop the construction of the Imagine complex at the intersection of Al. Piłsudskiego and Al. Śmigłego-Rydza in Łódź.

IMS Budownictwo has completed the sale process of Building A of the Zabłocie Business Park in Kraków. A company from the Austrian insurance group Uniqa became the office property’s new owner. The final agreement was signed on September 12th, with the transaction amounting to nearly €30 million. Knight Frank acted on behalf of the seller.

Ambitious revitalization plans, a thriving academic centre, nearly one million inhabitants living within its metropolitan area, as well as an increasingly improving infrastructure and extensive transport network are factors that are shaping the image of Łódź as a strong location for real estate investors. However, not only the office market is developing rapidly in the city. According to the report concluded by JLL, the City Hall of Łódź and HAYS Poland entitled "Łódź - Revitalizing a vibrant business and living hub", the residential and hotel segments are also achieving better results.

Bucharest’s modern office stock will increase by over 500,000 sqm in 2019 and 2020. According to Colliers International Romania, these dynamics of the office market could generate variations in the office buildings’ market values of plus or minus 5% during the indicated period. To measure these possible changes, three factors were considered: the average vacancy rate, the level of the incentives packages that owners offer to tenants and yield compression.

Warburg-HIH Invest Real Estate is about to acquire the River Garden 1 in Prague via a share deal. The office building with its gross lettable area of 19,000 square metres and another 1,300 square metres of patio space is earmarked for the individual fund of a German investor. In addition to flexible office accommodation on six floors, the property from 2012 offers around 2,200 square metres of retail area.

CA Immo has begun the construction of two premium office properties in the River City Prague complex, which is located in Prague’s Karlín district. Mississippi House and Missouri Park will complete the office complex, which currently includes three Class A- office buildings (Amazon Court, Nile House and Danube House).

One United Properties, a company with Romanian capital, has ongoing office projects of 150,000 sqm for the following three years, totalling investments of €220 million.

Wrocław is one of the most rapidly developing business centres in Poland and the third largest office market in the country. The city's office supply at the end of the first half of 2019 was 1.1 million sqm. The attractiveness of the Wrocław market is luring many employees from other cities, and as a result, up to 75% of specialists in Wrocław's business services sector are from outside the city, according to JLL.

Mihai Păduroiu has been appointed as the CEO of the Office Division at One United Properties, starting November 1st, 2019.

Tri-City continues to attract investments and the three cities' office sector continues to expand. The uniqueness of the Tri-City market is underpinned by the fact that the largest office complex in Poland is located here. What's more, Poland's first office park to be located within an airport is planned for Gdańsk, while Gdynia will offer unique office space situated on the waterfront. According to last year's JLL estimates, in 2021 Tri-City will be the third-largest regional market with office supply exceeding one million sqm.