The Board of Directors of TK Development has decided that going forward, property development activities will be confined to the Danish and Swedish markets, and the activities in Poland will be divested.

London is currently Europe’s leading financial and banking services hub, but it may lose some of its appeal for businesses targeting the European Union following Brexit. Some financial institutions will move their operations outside the UK. Frankfurt and Paris will definitely benefit, but Warsaw is also one of the contenders. Bolesław Kołodziejczyk, PhD, Head of Research & Advisory, Cresa Poland analysed the potential impact of the UK’s departure from the European Union on the Polish market.

Hong Kong has replaced London’s West End as the most expensive office market in which to accommodate staff, according to new research from Cushman & Wakefield. At a global level, the average annual cost per workstation rose by 1.5% over the last 12 months. Workplace density – the number of workers within a given space – has also increased in 2017.

Panattoni Europe is to build a factory for Ontex, a Belgian producer of personal hygiene products. The facility featuring in excess of 26,000 sqm will be located in Radomsko, within the Łódź Special Economic Zone (ŁSSE). Construction works are about to begin in early December and are scheduled to end in July 2018.

NewWork, a serviced offices operator from Hungary, opened their first location in Poland. 3,200 sqm of flexible office space is now available in Warsaw's Wilanów in Wilanów Office Park. NewWork plans to continue their expansion in the Polish capital city and open another 10,000 sqm of serviced office space by the end of 2018.

NEPI Rockcastle inaugurated Shopping City Ramnicu Valcea, following an investment of €40 million. With a leasable area of 27,900 sqm, Shopping City Ramnicu Valcea offers 14,000 sqm of fashion brands, a hypermarket and services area of 10,000 sqm and 3,000 sqm of restaurants and entertainment area.

Globalworth announced the successful completion of the non-pre-emptive placing of new ordinary shares. A total of 38.9 million new ordinary shares in the company have been placed by Jefferies International Limited at a price of €8.75 per placing share, raising total gross proceeds of €340 million, in excess of the company's target and oversubscribed at this level.

The Board of Directors has appointed Anders Danielsson new President and CEO of Skanska. He will succeed Johan Karlström who previously announced he will step down.

After the first three quarters of 2017 the warehouse market continues to be the fastest and most dynamically growing commercial property sector in Poland. According to the latest report by BNP Paribas Real Estate Poland, since the beginning of the year the total volume of modern warehouse space has increased by 13.6%. Q3 2017 was dominated by Szczecin with the completion and delivery of the country’s largest warehouse scheme: Panattoni BTS Amazon Szczecin, with the area in excess of 161,000 sqm.

GTC S.A. signed a €46.5 million new loan agreement with BZ WBK for refinancing of Korona Office Complex. The complex offers about 36,800 sqm GLA in Kraków.