Over the last years, the Czech capital on the Vltava river has strengthened its positioning as a city escape favourite among international leisure travellers. Specialist business property adviser Christie & Co’s analysis revealed that although competition on the hotel market is fierce, performance increased over the long run, despite last year’s mixed results.

Globalworth has worked with Signify to deliver the first implementation of a light-wave wireless communication solution in the CEE region. Trulifi is available in the Warsaw office building Spektrum Tower. Investments in new technologies improving the use of the office buildings managed by the company are one of the pillars of Globalworth's development strategy in Poland. 

Immofinanz is making a further strategic acquisition in the office sector with the purchase of the Palmovka Open Park in Prague through the takeover of the related real estate holding companies. This office location consists of three buildings with 25,800 sqm of rentable space. The agreed property value amounts to €76.4 million, and the expected rental income totals roughly €4.4 million per year. The seller is Metrostav Development, the project development company which completed the property in 2018. The seller was represented by Knight Frank.

Adventum International, a Malta-based boutique investment fund manager with a partial Hungarian background, has acquired the 18,000 sqm Poznan Financial Center from Peakside Capital Advisors. The purchase price was not disclosed.

Millennium Gardens, TriGranit’s newest office development in Budapest, is already under the structural construction phase. Structural works of the office building with over 37,000 sqm GLA, is being carried out by Bayer Construct Zrt. The project will be the final element of Millennium City Centre with completion in Q2 2021.

M7 Real Estate, a pan-European investor and asset manager, has acquired a further five office, light industrial and logistics assets in Poland on behalf of its M7 Polish Active Fund (M7 POLAF) for a total of €65 million in three separate transactions.

Employees working in modern offices in Bucharest spend an average of 46 minutes between home and work, while 52% of them consider the commuting time to be long or too long, according to the first edition of the Working Habits and Commuting Patterns study, realised by Cushman & Wakefield Echinox.

One year ago, CBRE promoted Luiza Moraru as Head of the Property Management Division for the Central and Eastern Europe (CEE). In just one year, the managed portfolio expanded by 50%, and at the same time the team grew, so at age 39, Luiza Moraru conducts a team of over 600 people, being the only real estate consultant in Romania with a regional management position.

In Wrocław, Panattoni Europe has completed phase one of City Logistics Wrocław I, with 36,700 sqm built and fully leased, and as of August works are starting on phase two – to deliver an additional 25,000 sqm. The facility tailored to the needs of tenants seeking small units will be ready in Q1 2020.

Prague’s modern office stock located within a 10-minute walking distance from a metro station grew from 2.54 million sqm to 2.69 million sqm between Q4 2017 and Q1 2019, taking the amount of Prague offices located within this walking distance to 77% of the total stock, according to the third annual edition of the Prague Office Metro Map from Colliers International Czech Republic.