Although demand slightly decreased on the Prague office market in Q3 2017, the vacancy rate further declined to its current level of 7.7%, JLL reports.

A new Class A office building in Budapest’s CBD is to be delivered this year. The former electrical transformer building will comprise 2,630 sqm of modern office space on five floors. According to the developer, Markó Irodák 9 (MI9) is tailored to meet the requirements of creative workshops, start-up companies and other undertakings taking an up-to-date approach in general.

River Development, part of Romanian SEMA Group, has announced the start of the construction works for The Light office building located in Politehnica area, on the grounds of the former Pumac factory in Bucharest. The building will have a gross leasable area of 21,000 square meters and will be delivered in the first quarter of 2018 following an investment of around € 33.5 million.

HB Reavis is simultaneously developing three buildings on the largest construction site in Warsaw city centre. The works on the diaphragm walls that will envelop the future basement storeys are nearing completion and a viewing platform has been opened for pedestrians to come and admire the spectacular excavation in progress.

Construction works on the modern office complex Podium Park in Kraków’s Czyżyny are under way. In connection with completion of the pre-lock-up stage in Building A, Podium Investment started to perform finishing works. Currently, according to the schedule, lock-up stage works in Building A are under way. Completion of the first building is planned for the end of June 2018.

GTC currently has 6 projects under construction with over 145,000 sqm GLA. The company also has 6 projects in the planning stage with over 143, 000 sqm of office space and 61,000 sqm of retail space, in addition to 2 extensions of existing projects for 5,100 sqm. GTC presented its Q3 2017 financial results.

Skanska has commenced the third building of its Krakow-based High5ive office project. During the construction works, the company will also develop an underground garage for the fourth building. High5ive, developed in the very heart of the city, will ultimately consist of five buildings and deliver 70,000 sqm of office space. The whole project will contribute to an interestingly managed and thought-out urban area in Krakow.

The Platinium 3 office building, managed by Allianz Real Estate, has received a LEED Gold certificate, confirming comfortable working conditions and energy efficiency. The certification process was conducted by Colliers International.

Bischoff & Compagnons is about to start the construction of the Alphagon Office Building in the South Buda part of Budapest. The scheme is to be completed in Q2 2019.

The Bucharest office market saw a net take-up of close to 45,000 sqm in this year’s third quarter. According to data from Colliers International, the demand came mostly from IT and BPO/SSC companies, including from the new entries in the market: Amazon, GoPro and Systematic.