The amount of office space currently under development in Prague is higher than ever. 136,000 sqm was completed in 2017 and an additional 165,000 sqm of modern office space should be delivered to the market in 2018. This is the highest development rate since 2008. Despite that, the vacancy rate has dropped to a record low of 6.2 per cent. This is a year-on-year decrease of more than 3 percentage points. This should change, however, with seven new office buildings due to be completed this year, according to Cushman & Wakefield.

GTC is preparing to build another office building in the Hungarian capital, The Twist – Budapest City Tower. The developer recently obtained the building permit. The new project is located in the 13th district in Budapest, next to the Árpád híd metro station.

Romania becomes the seventh country in which Mindspace offers its flexible workplace solutions, following a leasing agreement Globalworth has just signed. Mindspace will start operating in three Bucharest buildings, on approx. 12,000 sqm across Globalworth Campus, City Offices and Bucharest Tower Center. At the same time, Globalworth is investing $10 million in the company to support its ongoing growth.

Wing, through one of its investment funds, has acquired Infopark D office building in the South Buda area. The transaction was financed by HypoNoe Bank AG.

Żabka Poland opened a new warehouse facility with the area of 24,700 square meters. The new logistics centre leased by the owner of the convenience store chain is located in the MLP Gliwice park owned by MLP Group.

GTC Hungary has completed its latest office building in Budapest, GTC White House, which offers 21,500 sqm of Class A space. The developer also plans to launch two new projects in the city.

After delivering the first two office buildings of the Globalworth Campus complex in Bucharest, the developer has started the construction of Tower 3, with a total leasable area of 35,000 sqm. Upon completion, Globalworth Campus will comprise three main office towers offering 92,000 sqm of leasable area and 760 parking spaces, along with green areas and a large conference hall.

CPI Property Group announced the disposal of five small retail properties located in regional cities of northern Czech Republic, totalling approximately 25,700 sqm.

Globalworth announced the closing of the acquisition of Quattro Business Park in Kraków by Globalworth Poland.

Cushman & Wakefield has expanded its Project & Development Services (PDS) team, to include a new Design & Build (D&B) platform. The new European service line is headed by Glyn Evans for the CEE region, based in Prague. Andrew Frizell, Partner and Head of Project Management CEE is leading the new service line in Poland supported by Glyn Evans.