Ghelamco has secured a €221 million loan for the construction of The Warsaw Hub from a consortium of five banks. Warsaw HUB, comprising three buildings, will have 113,000 sqm GLA of which 70,000 sqm of office space. The complex will also include retail space and a conference centre as well as two hotels. Completion is planned for 2020.

Demand on the Budapest office market in Q3 2017 increased by 67% compared to the previous quarter, reaching 164,985 sqm. Combined with a marginal growth in supply the vacancy rate further decreased to 7.6%. The Budapest Research Forum published its latest figures.

Cushman & Wakefield has been responsible for the audit of the Focus office building and obtaining a BREEAM IN-USE International certificate for the scheme. The office complex, located at 26 Ludowej Avenue in Warsaw, received an “Excellent” rating in Building Management and a “Very Good” rating in Asset Performance.

Despite record low vacancy levels in Budapest and an increasingly landlord-friendly leasing environment, industry commentators have warned of an imminent oversupply around the corner. But there is no need to panic just yet, suggests Orsolya Hegedűs and Mike Edwards at Cushman & Wakefield, Hungary.

MOL Group announced its plans to relocate its corporate headquarters by 2021 to MOL Campus, the company’s new 83,000 sqm office, which will be designed by UK-based Foster + Partners. The 120 meter high building, which will be the future workspace for up to 2500 employees, will be located within the new BudaPart quarter, on the banks of the Danube in the southern part of Budapest. MOL Campus is set to become the tallest commercial building in Hungary.

JLL Romania will provide technical consulting services for the construction of Groupe Renault's future headquarters in Romania, the largest office building currently under construction in Bucharest.

Cushman & Wakefield have newly become the manager of two Class A office buildings: Keystone in Prague 8 and Smíchov Gate in Prague 5. Both properties are situated in locations popular on the office market where lease volumes have been the highest this year. Prague 5 accounted for 16% of the total volume and Prague 8 for 15%.

Kraków is the biggest office market in Poland outside of Warsaw. In August 2017 Kraków surpassed the threshold of 1 million sqm of overall supply. As for H2 2017, JLL expects that the volume of new office space will total 105,000 sqm, which would constitute the second best result in Poland with Warsaw claiming the top position

HB Reavis’ flagship development in Warsaw’s city centre, Varso, has been awarded a WELL Core & Shell Precertification by the International WELL Building Institute. Through the introduction of solutions aimed at improving employee wellbeing at the building design stage, Varso is WELL Core & Shell Precertified at the Gold level, and could be awarded WELL Core & Shell Certification following final performance verification upon completion in 2020.

Skanska invests €27 million in the office project Praga Studios in Prague. The seven-floor building will offer a total leasable area of about 12,000 square meters. Construction has begun and the office building is scheduled for completion in Q2 2019.