A new Class A office building in downtown Budapest was inaugurated on this week. The building under Markó Street 9, originally used as an electrical transformer house, has now received a new identity. The 2,630 sqm floor area of the five-storey building – two of which come with a loft – is tailored primarily to meet requirements of creative workshops, start-up companies and other undertaking taking an up-to-date approach in general.

Mulberry Development, a real estate developer controlled by businessman Ovidiu Sandor, has announced the launch of the second phase for ISHO Offices, a mixed-use project in Timisoara.

Strabag SE, through its Romanian subsidiary, has been awarded the contract to build a 110 m tall office tower in central Bucharest. The contract has a value of about €39 million. Completion is scheduled for October 2019.

The Eiffel Square office building has been qualified Excellent in the BREEAM asset performance appraisal method in the In-Use Asset category. Under BREEAM, the world’s leading sustainability appraisal method, the Class A+ Eiffel Square Office Building has been certified as a building operating in an outstandingly environment-conscious manner.

M7 Real Estate, a pan-European real estate investor and specialist asset manager, has agreed on a number of transactions as part of its proactive asset management programme on behalf of Vector Parks. Vector Parks comprises a portfolio of industrial and office assets located in the Czech Republic and Slovakia. Over the last six months, M7 has completed six new lettings and four renewals totalling over 20,500 sqm with predominantly anchor tenants.

In March 2018, Business Link and Skanska jointly launched a new business space located in the centre of Krakow. The High5ive office complex provides nearly 4,000 sqm of space, offering 140 offices, 24 co-working areas and 5 conference rooms. The project, following investments in Warsaw and Poznan, is another flexible office space opened jointly by Business Link and Skanska.

Colliers International was assigned by Werk Property Group to offer property management services for the Vox Technology Park office project in Timisoara. Therefore, the Colliers International team strengthens its leading position on the office property management market, as the managed office portfolio grew by 10% up to 280,000 leasable sqm, out of a total portfolio of 380,000 leasable sqm.

Cushman & Wakefield launched its latest Łódź real estate market report at MIPIM. The report, prepared in cooperation with the Investor Service and International Cooperation Bureau of the City of Łódź Office, contains an overview of the city, its growth potential, numerous revitalisation projects and commercial property market. Its key findings were presented at the Łódź stand at MIPIM by Zuzanna Krech, a Negotiator in the Office Agency of Cushman & Wakefield, and representatives of the city’s authorities.

Skanska invests €41 million in the first phase of a new office development in Gdansk, Poland. The first phase of the project will be 14 stories high with a total leasable area of about 23,300 square meters and two levels of underground parking.

Up to 500,000 sqm of office space was leased in 2017 by companies from the business services sector. The positive trend should continue in 2018. According to the estimates by ABSL, 50 new centres will likely open in the upcoming months, which will, in turn, lead to high demand for office space. JLL analysed the activity of companies from the business services sector in Poland in 2017.