New York and San Francisco have emerged as the most expensive flexible office markets worldwide, while Berlin is one of the fastest-growing European markets, according to Workthere, a flexible office listing platform launched by Savills, that helps occupiers find flexible workspace.

Echo Investment has had another successful year. The obtained net profit of PLN 189 million mainly results from handing over to customers 1,622 apartments built by Echo Investment, as well as 1,128 apartments of Archicom, an increase in the value of office buildings and stronger performance of the Libero shopping centre.

Develia plans to deliver 600-800 apartments in the Private Rented Sector segment (PRS, institutional rental market) this year, the company said. The current land bank allows the company to build nearly 9,000 sqm premises.

The investment group RSBC Real Estate is the new owner of building E in the Brumlovka administrative complex in Prague 4. The acquisition of the headquarters of the energy company ČEZ was completed in March 2022, the information about the finalisation of the transaction was published on the website of RSBC Real Estate today.

Almost 40,000 sqm was leased in retail and 25,000 sqm in the office segment. From the beginning of 2022, the entire office portfolio fully relies on green energy.

Romania's commercial property market has remained liquid throughout the pandemic period, with total investment volumes reaching €1.83 billion over the 2020-2021 period, up 8.7% versus 2018-2019, according to a report by real estate consultancy Cushman & Wakefield Echinox.

Multi Corporation, one of the largest commercial asset management companies in Europe, announced the completion of a management buyout from funds managed by Blackstone.

Czech investor PPF Real Estate has purchased a construction site land with a building permit in Bucharest, for the development of a new office building named ARC from property developer RC Europe. The project is due for completion in 2024 following an estimated investment of €60 million. 

Warimpex, a real estate development and investment company based in Vienna, has appointed Savills as the exclusive leasing adviser for office space in its new office complex located in Białystok at the junction of Bohaterów Monte Cassino and Wyszyńskiego streets. The phased project is expected to break ground this year.

The rising prices of raw materials and ongoing supply problems result in a more challenging environment for construction, but at the same time, strong demand from developers and a focus on ESG and technology create a good opportunity for growth. Attila Beer, Country Manager of Alukönigstahl Romania talked to Property Forum about the trends driving Romania’s construction sector.