The office market in Bucharest and in the major regional cities of Romania - Cluj-Napoca, Timișoara, Iași and Brașov - continues to develop, with local and foreign investors having projects under construction or scheduled for delivery with an area of approximately 500,000 square meters that will be put into use in the next 16 months, according to Cushman & Wakefield Echinox.

Real estate developer Hagag Development Europe finished construction works – refurbishing and reconversion – for its office project H Victoriei 109 in Bucharest. The building will be delivered following the final reception protocol. Up to the present time, 50% of the GLA has been contracted.

Cavatina Holding has entrusted Knight Frank with the management of the Carbon Tower office building in Wrocław. The building’s leasable floor area totals 19,000 sqm.

Savills has been appointed by Atrium European Real Estate as sole letting agent for office space in all the buildings owned by the fund in Poland.

In the first half of 2020, the supply of modern class A, B and C office space in Sofia increased by 1%, reaching 2,315,600 sqm, according to Colliers International. The recently completed building 3 of Garitage Park accounted for much of the growth in the office stock.

Kajima Poland has completed the extension and reconstruction of the Bydgoszcz headquarters of tyre e-retailer Oponeo.pl.

Due to the lockdown caused by the outbreak of the COVID-19 pandemic, most companies embraced a remote working model and scaled-down business activity. How did this affect the Polish office market? Cushman & Wakefield presented a summary of H1 2020.

Private investment company Cimex Group has appointed Savills as property and leasing manager for its portfolio of twelve properties – ten in Prague, one in Plzen and one in Karlovy Vary – in the Czech Republic, starting August 2020. The total floor area of the buildings is more than 100,000 sqm and the portfolio currently provides premises for more than 500 tenants.

According to consulting company Walter Herz, the consistently expanding office market of Tri-City has the lowest vacancy rate in Poland currently and the office stock of the Tri-City agglomeration will exceed 1 million sqm after the construction of the ongoing investments is completed.

Skanska invests about €65 million in the first phase of the new office complex H2Offices located in Budapest, Hungary. It will offer a total leasable area of about 26,000 square meters and is designed to obtain WELL and LEED certifications.