After 2015's record-breaking performance, when demand totalled 64,900 sqm, 2016 closed with a very good result – office lease agreements for 64,100 sqm were signed in Poznań. An interesting trend in 2016 was the increased share of pre-let agreements in overall demand - much higher than in previous years. Also, more companies have decided to expand their office space, illustrating how buoyant the market is. JLL summarised 2016 on Poznań's office market.

Futureal Group signed a credit agreement of €45.1 million with Erste Bank Hungary Zrt. in order to finance the realisation of the Corvin 5 office building. The first phase of the building is expected to be handed over at the end of 2018. 

HB Reavis has gained planning consent for its next new major development, Agora Budapest, situated next to city’s busiest boulevard and the Váci Road office corridor. Construction on the first building called Agora Hub has already commenced. Agora Budapest will be built in several phases and will comprise more than 136,000 sqm of modern office spaces and retail units by 2023. The project will require an investment of approximately HUF140 billion (€447 million).

Immofinanz introduces its international office brand myhive to the Hungarian market, to be implemented in five of its office buildings in Budapest. The Greenpoint 7 and Haller Gardens have already become myhive Greenpoint 7 and myhive Haller Gardens, after a transformation process through which the properties’ common areas now offer an extended service range and improved infrastructure to encourage socialization. Plans call for the myhive concept to also be rolled-out at Átrium Park to become myhive Átrium Park, Globe 13 and Xenter 13 buildings to become myhive Thirteen.

Building G, the 7th element of the Bonarka for Business (B4B) office complex in Kraków, has been just handed over. The 100% built-to-suit, eight-storey Class A office building has 10,000 of sqm GLA and will host Euroclear, a Belgium-based financial services company. Having closed 8,000 sqm of lease renewals and new leases in the last months, TriGranit plans the delivery of further 3 office buildings in B4B in the near future. 

Optim Project Management was assigned as General Designer for a new mixed commercia  (retail & offices) development in Timișoara. Optim PM will also provide project management services for this new project.

Master Management Group is developing the tallest building in Łódź. The 19-storey building will be a part of the Piotrkowska 155 mixed-use complex, currently under construction. 

2017 will deliver only 17,000 sqm of new space to the Brno office market. When considering the size of the market, together with Budapest, this is the lowest increment of new offices in Central and Eastern Europe – 3.3%. A lack of new office space may cause rental prices to increase. These figures are based on an analysis made by Cushman & Wakefield, which compares the office markets across 12 cities in Central Europe.

Futureal Group’s Advance Tower is getting closer to becoming the first office building in Hungary obtaining the Well Building Standard (WELL) certification. The International Well Building Institute’s system examines buildings’ impact on human body, health and environment and rates them based on 7 categories – air, water, nourishment, light, fitness, comfort and mind. The pre-qualification process of Advance Tower that will be built on Váci Road has already started. All further office projects of Futureal Group will be realized in line with the requirements of the Well Building international standard. 

Immofinanz rented approx. 80,000 sqm of office space in Bucharest during the abbreviated 2016 financial year. That represents more than 40% of the total standing office portfolio in Romania. These transactions are expected to increase the occupancy rate in the office sector in Romania from roughly 88% to more than 94%. New rentals and expansions accounted for roughly 47,000 sqm or 60% of the rented space, while the remainder represents contract extensions.