One of the leading flex office providers in CEE expects to see drastic changes in the office market during the coming years. Property Forum talked to Hubert Abt, CEO of New Work about the drivers of the rapidly evolving world of workplaces.

The tallest building in Slovakia, Eurovea Tower is rising in Bratislava by the Danube. With the completion of the 38th floor, the tower has reached 125 metres, the milestone by which it has become the highest building in the country already and has 40 metres still to come. By the end of 2022, Eurovea will be with the 47 floors and 168 metres the 1st skyscraper in the country, developer JTRE announced.

The modern stock of industrial spaces in Romania reached 5.9 million sqm in the first semester of 2022, with 500,000 sqm under construction and 44% of this volume already pre-let, according to a report by real estate consultancy CBRE.

Investment into the European logistics real estate market remained strong in Q1 2022 and experienced a y-o-y growth of 19.6%. The growth of 28% above the five years average has experienced the leased warehouse space. The biggest change occupiers anticipate as a result of the pandemic is the shortening, or reshoring, of supply chains to mitigate risk. Also, the war in Ukraine and China´s lockdowns has driven the demand to record levels, indicates Savills in their last European Logistics Outlook published today.

In line with the growing popularity of flexible and hybrid work models, many companies are relocating, changing size and trying to re-fitting their offices. This could be one of the reasons why Prague placed second in the CEE region in terms of the price of fitting out an office. Nevertheless, the key reasons are the tightening supply chain and challenges around labour, which are set to continue well in 2022 and beyond. The average costs per sqm in Prague are currently €1,037, which is half of what it is in top German cities or in the UK where the median cost exceeded €2,000, Cushman & Wakefield presents in their report.

UnicreditBank Czech Republic & Slovakia and Demaco have signed a long-term loan agreement together for funding the project in Northern Moravia. Demaco informed about the contract on its LinkedIn page.

Adventum Group’s largest deal to date – a portfolio of 18 retail parks anchored by Tesco across Hungary and the Czech Republic with a GLA of 360,000 sqm let to over 900 tenants – has come to a successful completion and with this transaction Adventum’s assets under management has reached €1 billion.

Codrin Matei, Managing Partner, Head of Capital Markets at Crosspoint Real Estate spoke to Property Forum about the real estate asset classes that can attract new foreign investors and the high level of capital available for innovative projects. The agency has been generating growing revenues in the residential sector and expects business to grow in all commercial segments this year.

Austrian real estate group Supernova has added four MAX shopping malls to its portfolio of eleven OBI supermarkets in Slovakia. The transaction, without mentioning the price, was reported by the news website reality.trend.sk.

The retail market in Romania is set to expand by more than 500,000 sqm in the next four years, with 10 of the projects in the pipeline each having more than 10,000 sqm, according to  Cushman & Wakefield Echinox.