ARTICLES LABELLED WITH TAG office

A 44% higher demand for offices in Prague was recorded year-on-year in Q4 2022. Renegotiations accounted for 58%, the remaining transactions included new leases, expansions, and subleases. By 2025, an additional 400,000 sqm of new office space, currently in different stages of preparation, is due to come online in Prague, says JLL.

The Warsaw office market saw a shrinking volume of space under construction and increasing pressure on rents in 2022. However, according to the latest report by Cushman & Wakefield, the capital's market could see a significant tenant recovery as contracts signed in the record period of 2018-2019 come up for renewal.

The office vacancy rate in Budapest increased to 11.3%, representing a 0.3 pps increase quarter-on-quarter and a 2.1 pps increase year-on-year. Net absorption has remained positive by the end of the fourth quarter, amounting to 53,480 sqm and reaching 158,510 sqm year-to-date, the Budapest Research Forum (BRF) reports.

Face2Face Business Campus, an office complex in Katowice with a combined area of close to 50,000 sqm, has a new property manager. Its owner, a joint venture of the Czech fund INVESTIKA realitní fond and Luxembourg-based private equity investor Bud Holdings, has instructed Savills to provide property management for the complex.

According to a report published by Newmark Polska, in 2022 Poland’s regional city markets overtook Warsaw in terms of total modern office stock. Their overall vacancy rate held firm amid moderate development activity.

In 2022, Karimpol Polska signed 11 leases with a total area of nearly 22,200 sqm in Skyliner, its flagship project in Warsaw’s Wola district. The commercialisation of the building has reached 80%. CBRE Poland has brokered the lease of all spaces.

The development firm has invested in the technical modernization of its buildings and reassured "BREEAM in Use" accreditation for the Váci Greens D complex.

Currently, more than 80% of employers in Romania have less than half of their employees in the office on a normal working day, according to a survey conducted by Colliers among 75 companies whose headcount ranges from several dozen to hundreds of employees. 

Real estate group Globalworth has received 47 ESG-related certifications for its Romanian portfolio during 2022. One of the highlights in terms of sustainability was the scoring achieved at Globalworth Square, which got a BREEAM Outstanding accreditation, with a 99% scoring.

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