Immofinanz is taking another important step in optimising its portfolio by selling an office property in Vienna. The Bureau am Belvedere building, with nearly 9,000 sqm of space, was sold to an Austrian investor.

Moje Miejsce II, which is the second office building of Echo Investment’s multifunctional project in Warsaw, was acquired by Trigea Real Estate Fund. The project is fully leased to tenants such as Tchibo or NetWorks and has been awarded BREEAM environmental certificate with an 'Excellent' rating. The transaction amounted to nearly €45 million.

The Echo-Archicom Group closes the year 2022 with a strong cash position and further reduced the company's net debt. This is the result of selling seven office buildings worth nearly €320 million. In 2022, the Group generated a net profit of PLN 127 million attributable to shareholders of the parent company, which was mainly the outcome of handing over to customers 2,168 apartments for sale and rent built by Echo Investment and Archicom, as well as an increase in the value of office buildings and apartments for rent.

The average office fit-out costs in Romania rose by around 20-30% in 2022 due to a combination of supply chain pressures and higher materials’ costs, which saw companies paying an average of €820 per sqm of office space, according to real estate consultancy Cushman & Wakefield Echinox. 

Property developer Atenor has named Viorel Lăcătuș as Country Manager in Romania. He has more than 19 years’ worth of experience in real estate, mostly in advisory roles.  

Property group Globalworth said its total combined portfolio value remained effectively unchanged at €3.2 billion during 2022 compared to 2021, while investments in logistics/light-industrial facilities in Romania and the refurbishment/repositioning of two mixed-use properties in Poland totaled €52.2 million. 

Office leasing volumes in Timișoara amounted to 51,400 sqm during 2022, which was more than half of the total deals closed in regional cities. Iași and Cluj-Napoca were next with volumes of 26,700 sqm and 15,200 sqm, respectively, while in Brașov office leasing covered 5,900 sqm. 

Romanian developer Iulius has installed photovoltaic panels on the roofs of all eight properties in its portfolio as part of an investment that totaled more than €3.5 million that will help the company save up to 10% of the total energy consumed across the group. 

IWG is opening a state-of-the-art flexible workspace at Tópark ‘BE MY CITY’ Office and Residential Park located in Biatorbágy as the demand for hybrid working rapidly accelerates. The new 1,320 sqm facility in Biatorbágy offers space for co-working and private offices. Meeting rooms and creative spaces are also available.

Fuzja is the first Łódź location of CitySpace, an operator of flexible office space. The concept, owned by Echo Investment, will occupy an office building on the site of the former Karol Scheibler plant, where the Fuzja mixed-use project is currently under construction. The location encompassing the entire office building on an exclusive basis is new to CitySpace. MIXD studio is responsible for the interior design. The opening is scheduled for May 2023.