While the costs of construction materials in Romania rose during 2022, impacting the ability of developers to self-finance their projects, the current outlook is not pointing towards an improvement of this situation this year, according to an analysis by the Eastern European Construction Forecasting Association (EECFA).

Industrial and logistics developer VGP said its contracted rental income stood at €303.2 million in 2022, up 18.4% compared to 2021, while its volume of new delivered projects reached a record 1.1 million sqm. 

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.

Panattoni has received an "Outstanding" rating under the BREEAM International New Construction system for Panattoni Park Szczecin III (halls A and B). This is the first such high level of certification in the industrial real estate market in Poland for a newly built investment. Its implementation was preceded by detailed life-cycle cost (LCC) and life-cycle analysis (LCA) of the facility for a period of 60 years. During construction, energy and water consumption were carefully monitored, harmful CO2 emissions were minimized, and thermal imaging was performed upon completion. The halls have been adapted to climate change and a possible change of use in the future. The project is located just 500 meters from public transportation and is accessible to people with disabilities.

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. 

In 2022, KGAL’s new business volume reached almost €1.9 billion across all asset classes. The renewable energy funds exceeded their return targets by approximately 100 percent on average, the impact residential real estate fund, KGAL Core 5 LIFE, got off to a strong start and the aviation team took advantage of the industry’s comeback, securing 16 aircraft operating leases. KGAL also made a number of important internal decisions within the company, further providing for a successful future.

Álmos Mikesy has been a member of the company board for the last two years and has now been appointed as Chairman and CEO of Diófa Asset Management.

Colliers has appointed Dávid Horváth as Head of Workplace Advisory Services in Hungary. He joined the Colliers Occupier Services team in 2015 as a workspace consultant. After a short break, he will continue as Head of Workplace Advisory Services, which has been strengthened into a strategic business unit, starting from February 2023.

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.