ARTICLES LABELLED WITH TAG office

At the end of 2018, the total office stock of Katowice, Poland’s fifth largest office market, stood at 519,300 sqm. Last year’s new supply amounted to 50,800 sqm (+218% y/y) delivered across ten office projects, the biggest completions being .KTW (18,200 sqm), Silesia Business Park IV (10,700 sqm) and GPP Business Park IV – Bloch (7,500 sqm). Another 52,000 sqm of office space is expected to be constructed at seven new office schemes in the coming 12 months, according to Cushman & Wakefield.

According to a recent report by BNP Paribas Real Estate Poland, Kraków and Wrocław are at the lead of cities with the highest volume of new office supply for 2018 in Poland. The two markets hold 59% of the new space completed and delivered in the eight key regional cities and account for more than half of the net take-up generated last year.

Wing entrusted JLL and Cushman & Wakefield real estate agencies with the leasing activities of its 42,000 sqm Liberty office building. The building will be realised next to the new Telekom headquarters and its delivery is expected in 2021.

mBank’s headquarters will be located in the tower of the Mennica Legacy Tower complex. The total office space at the complex developed by Golub GetHouse and Mennica Polska S.A. at the intersection of Prosta and Żelazna streets in Warsaw has thus been commercialized. The agreement signed by the bank and Mennica Legacy Tower investors is one of the largest transactions in the history of the office market in Poland.

At the end of 2018, modern office stock in Poland’s eight biggest cities (Krakow, Wrocław, Tricity, Katowice, Poznań, Łódź, Szczecin and Lublin) stood at more than 4.9 million sqm (+12% y/y). Krakow, Wrocław and Tricity topped the league table for total office stock. The Wrocław office market was the second regional city after Krakow to see its volume of office space exceed one million sqm. Cushman & Wakefield has summarized 2018 on Poland’s regional office markets.

Hong Kong will retain its title as the world’s most expensive office market despite rents being forecast to decrease in 2019, according to Knight Frank’s latest Global Outlook Report. Knight Frank's chief economist believes that there is a compelling global case for continued rental growth across the global cities.

The Heweliusza 18 office building has been given a valid occupancy permit. Tenants will start to move into the building from spring.

One and a half years after starting work on the site in the western part of Bucharest, Globalworth has finalised the construction of Renault Bucharest Connected (RBC). The project includes 40,000 sqm of Class A offices, served by an underground level with approximately 240 parking spaces, with a further 760 spaces outdoors. Renault Bucharest Connected includes an 8,000 sqm design centre, and the employees who work there will benefit not only from a 350 seat amphitheatre but also other facilities such as a restaurant, gym and a medical office.

The local real estate market has entered a new year of development on all its major segments, as developers plan to deliver industrial, retail and office spaces with a cumulated area of 1.2 million square meters, a new market record. In comparison, new spaces of around 850,000 square meters were delivered in 2018, according to data from Cushman & Wakefield Echinox.

AFI Tech Park, AFI Europe Romania’s latest business campus in Bucharest, announced two new tenants of AFI Tech Park 1, the first building of the office complex: New Work and Afcon Electra Romania. Following this transaction, AFI Tech Park 1 reaches an occupancy rate of 80%