Krakow’s office stock has increased by more than 15% over the year to more than 1.3 million sqm at the end of Q1 2019. According to “Occupier Economics: Office Market in Krakow Q1 2019”, a report published by m Cresa, the capital city of Lesser Poland continues to attract tenants and this trend is likely to carry on into the near future given the economic and cultural potential.

Modesta Real Estate continues to be the exclusive broker for lettings in Westend Tower, Bratislava. The company successfully arranged office space for a large number of companies over the past few months. In addition to many new contracts, the leases of some major companies have recently been extended. These include international companies such as Kovintrade and the pharmaceutical and biotechnology company Adamed.

Construction has begun on the Office Garden IV complex, which is being developed in Budapest by GRT Group, with the work to be completed in Q2 2021.

In the first quarter of 2019, leasing activity hit 140,100 sqm on the Warsaw office market, of which more than 101,000 was transacted under new deals and expansions. Cushman & Wakefield summarised the Warsaw office market in Q1 2019.

Poland's office market in Q1 2019 saw office supply growing, vacancy rates dropping comparing to the last year, and demand predominantly being driven by IT, services and manufacturing. Advisory firm JLL summarised the situation on the Polish office market at the end of Q1 2019.

The first building of the Green Heart complex in Belgrade has been officially opened. Nordeus, independent mobile gaming company based in Belgrade, chose GTC’s office centre to create their new studio. To accommodate a team of 170 people, the creator of competitive games leased 6,000 sqm across seven floors with three additional underground levels for parking.

The vacancy rate on Prague’s office market decreased to 4.3%, down 80 basis points in comparison with the revised results of Q4 2018. The Prague Research Forum announced the office market figures for the first quarter of 2019.

Total demand for offices in Warsaw during Q1 2019 was more than 140,000 sqm. Approx. 750,000 sqm of space is under construction. Tenant activity is expected to grow, and the market is waiting for spectacular projects to be finalized. JLL summarised the Warsaw office market in Q1 2019.

The Bucharest office closed Q1 2019 with decent numbers: a gross take-up of 105,000 sqm, out of which the net take-up was 29,000 sqm, and 93,000 sqm of deliveries. Data from Colliers International Romania show that the demand came mostly from IT&C companies, despite the tight labour market.

Following the recent takeover of the Sugarmaker Palace, UBM Development is preparing another large project, namely the Astrid Garden multifunctional complex, consisting of two parts – Astrid Offices and Astrid Residences. In the first stage, a five-storey office building will be constructed, followed by a residential complex of about 110 units the sale of which will be launched in the third quarter of 2020. The architectural form was designed by Bogle Architects, emphasising not only the modern look, lightness and airiness, but also the sensitive setting in the typical character of Holešovice.