Office real estate in Poland, as in the entire CEE region, is trying to forge a new identity for itself in the new times of hybrid work and lower demand. Participants in the panel on the future of offices at Future of Real Estate 2023 discussed how this process is taking place. The event was organised by Property Forum and RICS in Warsaw.

Penta Real Estate is selling the fully occupied coworking centre "Base", which is part of the Churchill office complex in Prague 2, to Scott.Weber Workspace, a company continuing its expansion in the Prague flexible office market. Neither party would comment on the size of the deal, online daily newstream.cz reports.

S Immo successfully concluded the disposal of the Eurocenter office building in Zagreb, Croatia. In addition to offices, the Eurocenter also includes a bank branch and a café and has a gross lettable area of around 9,000 sqm. The transaction of the centrally located and well communicated mixed use office building with an asset value of €26.5 million to buyer Atlantic Grupa d.d. was carried out by way of a share deal.

Technology is capable of extending offices’ lifespans and reducing the necessity for extensive renovations. However, due to economic and geopolitical events, investors are more restrained, Colliers reports.

Justyna Filipczak, Head of CEE at Cromwell Property Group, talked to Property Forum about the current investment trends, the attractiveness of retail and office properties and the company`s ESG agenda.

Romanian developer HILS Development has announced the launch of a new mixed-use scheme in Bucharest that will include residential, office and retail components that will cover 180,000 sqm.

In the third quarter of 2023, the total value of the Echo Investment Group`s assets increased to PLN 6.2 billion, while its further development is supported by a high level of cash amounting to PLN 627 million.

As demand for hybrid working rises International Workplace Group (IWG) expands its footprint in Budapest and Debrecen with the addition of two new workspaces. The opening of these two facilities is scheduled for 2024.

Warimpex has opened its third office building in Kraków, the Mogilska 35 Offices. The taxonomy-compliant property has 11,900 sqm of space, is located in the immediate vicinity of the city centre and is named after its address on Mogilska Street. There are also Warimpex office buildings at numbers 41 and 43, which are fully occupied. Mogilska 35 is already almost half let and also offers flexible coworking options.

According to Workthere.pl’s latest Flexmark report, larger companies (101+ people) and scale-ups (21-100 people) now account for 54% of global flexible office members, compared with 42% of members last year. The flexible office specialist notes that this increase is also reflected in take-up levels with these larger companies accounting for 34% of global take-up in flexible offices, compared to 22% in 2022 and just 13% in 2020.