Futureal Group has started the development of the final office complex on Corvin Promenade in Budapest, Hungary. Corvin7 developed in two phases will offer nearly 30,000 sqm of gross leasable area (GLA) in the immediate vicinity of Corvin Offices.

What’s next for the office market? What do occupiers want? What effect would an economic slowdown have on development? Heads of the European offices of real estate advisory firm Cresa talked about business opportunities and risks, and the global political uncertainty at their annual conference in Warsaw.

Spaces, a global concept originating from the Netherlands and offering solutions in the area of ​​flex work and coworking spaces, has leased over 3,300 sq m of space in the historic Matejki 3 building, which was previously the headquarters for the Union of Silesian Insurgents. The opening of this new branch of Spaces is scheduled for the end of 2020 or the beginning of 2021. Experts from JLL advised Spaces during the process of searching for the office and negotiating lease terms.

It took 17 months for Avestus Real Estate to develop the construction of the Imagine complex at the intersection of Al. Piłsudskiego and Al. Śmigłego-Rydza in Łódź.

CA Immo has begun the construction of two premium office properties in the River City Prague complex, which is located in Prague’s Karlín district. Mississippi House and Missouri Park will complete the office complex, which currently includes three Class A- office buildings (Amazon Court, Nile House and Danube House).

One United Properties, a company with Romanian capital, has ongoing office projects of 150,000 sqm for the following three years, totalling investments of €220 million.

Wrocław is one of the most rapidly developing business centres in Poland and the third largest office market in the country. The city's office supply at the end of the first half of 2019 was 1.1 million sqm. The attractiveness of the Wrocław market is luring many employees from other cities, and as a result, up to 75% of specialists in Wrocław's business services sector are from outside the city, according to JLL.

Tri-City continues to attract investments and the three cities' office sector continues to expand. The uniqueness of the Tri-City market is underpinned by the fact that the largest office complex in Poland is located here. What's more, Poland's first office park to be located within an airport is planned for Gdańsk, while Gdynia will offer unique office space situated on the waterfront. According to last year's JLL estimates, in 2021 Tri-City will be the third-largest regional market with office supply exceeding one million sqm.

Atenor has opened a new showroom in Aréna Business Campus Building A that is under construction in Budapest. The building will be handed over in Q2 2020. At the same time, construction of Building B has already been started.

HB Reavis has received a new syndicated loan from Erste Group and Raiffeisen Bank International Group (RBI Group) for the construction and development of Agora Budapest. The recently signed facility amount of €140 million makes it one of the largest in the Hungarian real estate sector. The financing club is led by Erste Group as book-runner and facility agent. Erste Group and RBI Group will finance the Agora Budapest project with equal parts.