V17, a new office building located at the beginning of the Váci corridor in Budapest has officially opened. The seven-storey sustainable building offers nearly 13,000 square meters Class A office space, most of which is let to E.ON Hungary Zrt. for long term. V17 is owned by Torony Ingatlan Befektetési Alap represented by Diófa Alapkezelő Zrt., and was developed by Hungarian commercial real estate developer WING Zrt. Building V17 required a HUF10 billion investment.

The Polish unit of Swedish IT company Cybercom has leased over 2,500 sqm of space in the Nowa Fabryczna office building developed by Skanska in the city of Łódź. JLL advised Cybercom on the leasing process.

Today one quarter of modern office buildings in Budapest have a sustainability evaluation certification, and even among the older office buildings a growing number apply new technologies. Almost all new real estate entrants offer architectural and environmental management solutions to their future tenant, says a report by CBRE.

Horizon Development has laid the cornerstone for its new office project. Promenade Gardens, located on Budapest’s Váci Road, is expected to be completed in Q4 2017.

The vacancy rate has increased for the first time in two years on the Budapest office market in Q3 2016. Still, net absorption reached a positive volume, reflecting a healthy market environment. The Budapest Research Forum has published its quarterly office market analysis.

Futureal Group is extending its portfolio with a new office building. Located at the Váci office corridor, Advance Tower is the second phase of the group’s ongoing project that involves the development of nearly 100 square meters of office space in the capital. 

Sii has leased over 3,400 sqm of space from Skanska in Poznań’s Maraton office building in order to design an office for both its current team and 200 new specialists who will be employed by the end of 2018. 

L1 building, belonging to the second phase of Brasov’s Coresi Business Park, with an area of 8,300 sqm, was delivered in September 2016. There are ongoing construction works on the second new building, N1, with 8,500 sqm, planned for delivery in Q2 of 2017. Coresi Business Park now totals over 30,000 sqm of a class office space and aims to reach 100,000 sqm in the coming years.

HB Reavis has selected JLL as the property manager of West Station I in Warsaw. JLL will be responsible for maintaining relations with tenants and supervising the technical, operational and administrative aspects of the building.

The owner of East-West Business Center, which is the oldest modern office building of Budapest, has decided to start refurbishment of their landmark property.