The share of IT companies in the Bucharest office leasing market has shrunk to less than 30% compared to a prepandemic level of more than 50%, according to data from real estate consultancy 24 REAL. 

The past year has brought a lot of economic turbulence, from the still-felt effects of the pandemic to the consequences of the war in Ukraine, rising commodity prices and disrupted supply chains to currency fluctuations and energy price hikes. This situation is driving the rising costs associated with building and finishing commercial real estate. At the same time, price increases are accompanied by an evolution in office design as companies increasingly opt for a hybrid work model and pay more attention to employee welfare and sustainability. Each year, Tétris takes a look at the current budget challenges associated with office fit-outs in the EMEA region, compares them with current trends, and summarizes everything in its Fit-Out Cost Guide report.

The Saski Crescent office building, located in Warsaw, at the intersection of Marszłakowska and Królewska streets, will offer more than 15,000 sqm of office space after renovation. The procedure will be completed in 2024. 

As part of its energy management and sustainability strategy, the real estate developer will reduce its domestic energy consumption by 20 per cent by 2025. 

CUBE Office Park in Gdansk is currently going through a green transformation process. The refurbishment of the reception lobby in building A, which was completed last year, is just a glimpse of what tenants may expect in the near future. CUBE Office Park is managed by TFG Asset Management while real estate advisory firm Savills is the sole letting agent for office space in the complex.

Significant new leases, prolongations and expansions were signed at the Bonarka for Business “B4B” office park in Kraków.

Zuzanna Kurek, Investor Relations Manager and ESG Committee Member of One United Properties, spoke with Property Forum about the ESG agenda of the Romanian developer and its role in growing the value of the company. Moreover, she also discussed how sustainability is becoming a strategic element in the developer’s negotiations for funding with banks and capital market investors.

2022 was a good, strong year in Poland's office market. After a downturn, it was time for a long-awaited boom in demand. Companies have adapted to new working conditions. Due to the loosening of restrictions related to the Covid-19 pandemic, they have launched a campaign to encourage people to return to their offices. On the other hand, we will see lower development activity in both Warsaw and regional office markets in the coming quarters, which should last until 2024. AXI IMMO summarised 2022 on the Polish office market.

The modern office stock in regional Romanian cities is set to reach around 1.3 million sqm in the next five years if the planned projects spanning 275,000 sqm will be delivered in this period, according to a report by real estate consultancy Cushman & Wakefield Echinox. 

In 2022, the Polish office market recorded a strong performance in terms of demand for office space which came predominantly from the financial, IT and business services sectors. Meanwhile, development activity slowed down amid rising construction costs and the deteriorating economic backdrop. This will result in a ‘supply gap’ in the largest regional city office markets and Warsaw alike, says Cushman & Wakefield in its latest report.