According to Cresa, Warsaw’s total office stock has risen by more than 3.75% over the year to 5.42 million sqm and the absorption rate is down by 1.4% compared with Q3 2017. The vacancy rate is at 10%.

Romanian developer Speedwell has launched the construction works of Record Park, a mixed-use development and urban regenerating project in Cluj-Napoca. The €42 million project is due to be completed in H2 2020. The project is being developed on a plot of 17,300 sqm and will have a total built area of 36,000 sqm.

Wing has begun preparations for the construction of another office building in one of Budapest’s most dynamically developing districts, right next to the recently inaugurated Telekom HQ. With a total floor space of 40,000 sqm, the Liberty Office Building will offer premium office and retail space. A distinctive feature and main appeal of the people-oriented building, constructed to BREEAM ‘Very Good’ certification requirements, is a plant-filled, two-storey high rooftop greenhouse spanning the wing along the boulevard and a skybar with a panoramic view to the Buda mountains.

Ghelamco presented Warsaw Unit, its latest Warsaw project, previously known as Spinnaker. The 180-metre skyscraper is scheduled to be completed in early 2021. The project’s budget is nearly €200 million.

M7 Real Estate has refinanced a €4.8 million debt facility secured against the Mani Business Centre in Zagreb, Croatia with Erste Bank Zagreb following the completion of M7’s successful asset management strategy for the property.

Mennica Legacy Tower has joined the group of Warsaw buildings whose construction measures over 100 meters. The high-rise building, developed by Golub GetHouse and Mennica Polska S.A. at the intersection of Prosta and Żelazna streets in Warsaw, will reach its final height of 140 meters in the Q1 2019.

GTC plans to start the construction of a new office complex, City Rose Park on Bulevardul Expoziţiei in Bucharest next year. The €100 million project will comprise three new office buildings.

Construction has begun at Infinity, a modern office project developed jointly by Avestus Real Estate and European Property Investors Special Opportunities 4 (EPISO 4), a fund advised by Tristan Capital Partners. Located in the very centre of Wrocław at John Paul II Square (at the intersection of Legnicka and Nabycińska Streets), Infinity will offer 22,036 sqm of lettable area. The ground works have commenced with completion of the building scheduled for Q3 2020.

Between Q1 and Q3 2018, demand for office space in Poland reached nearly 1.1 million sqm, signalling a continued strong market momentum. JLL summarised the situation on the Polish office market at the end of Q3 2018.

Colliers International has been appointed the manager of the 15,000 sqm Bałtyk office building in Poznań.