Leasing activity in the Budapest office market remained strong with more than 253,000 sqm of office space leased in the first half of 2018. In total, commercial real estate agencies were involved in 173,000 sqm of office leasing transactions, from which CBRE completed the largest amount of transactions, 42,245 sqm equating to 24.4% market share in the agents market.

Last June, Cushman & Wakefield was appointed as an exclusive commercialisation agent for building “B” of the LIXA office complex being developed by Yareal in Warsaw’s Wola district. The first phase of the development project (buildings A and B) comprising 27,900 sqm of leasable space is expected to be delivered to the market in Q3 2020.

Bulgarian Real Estate Fund plans to invest €33 million in the construction of an office building in state-owned Sofia Tech Park. At first, the project will be financed with the proceeds from the company's planned capital increase, while at a later stage the construction works will be financed through loan financing.

Immofinanz has leased a total of over 15,000 sqm in Bucharest in the first half of this year. This is equivalent to 8% of its current overall leasable office space in Romania. The company has attracted new tenants for 8,300 sqm of office space and extended contracts for an additional 7,500 sqm in six of its office properties.

Skanska has invested €52 million in the first phase of an office development in Wrocław, Poland. The first phase with a total leasable area of around 26,000 square meters will consist of two buildings, 15 and six stories high, with a shared two-level underground parking lot.

Net absorption on the Budapest office market in Q2 2018 amounted to 40,140 sqm, which marks more than a doubling year-on-year. The Budapest Research Forum published its latest figures.

Operators of co-working spaces rented nearly 20,000 sqm of office space in existing or developing buildings in Bucharest in H1 2018, which represents a 13,4% share in the total transaction volume, estimated at around 150,000 square meters, according to data from Cushman & Wakefield Echinox.

Israeli-owned real estate developer Hagag Development Europe has commenced construction works on its first office project in Romania, H Victoriei 109. The developer is planning to invest over €8 million euro in the 6,000 sqm project.

Entrepreneur Ovidiu Sandor’s Mulberry Development has handed over the first phase of ISHO Offices in Timisoara, Romania. Survey Sampling International was the first company to move in with more than 130 employees.

The landlord representation team at BNP Paribas Real Estate Poland will be responsible for leasing vacant space as exclusive agent in the Europlex and Irydion office buildings and the A building in the Wiśniowy Business Park complex in Warsaw.