New office projects with a combined leasable area of nearly 64,000 sqm were completed during H1 2024, with the volume soaring almost three-and-a-half times compared to the same period of 2023, according to a BNP Paribas Real Estate report.  

Hili Properties, the real estate arm of Hili Ventures, has successfully secured the remaining 25% shareholding of the company which owns the MIRO office building in northern Bucharest. 

Romanian developer One United Properties has started the construction of One Technology District, which will host the largest R&D centre of Infineon Technologies in Southeast Europe.

Atenor has completed BakerStreet Phase I, a new office project in Budapest’s South Buda area that will host the HQ of E.ON Hungária Group. 

The first half of 2024 on the Warsaw office market marked an evolutionary change on both the demand and supply side. Development activity is slowly returning to pre-pandemic levels, with 280,000 sqm under construction at the end of June. On the demand side, we are observing a continuation of the renegotiation trend. The total take-up was 320,000 sqm, a comparable result to H1 2023, according to Axi Immo's latest report. 

Skyliner II is the second phase of the Warsaw high-rise complex owned by the Karimpol Group. The project will deliver approximately 24,000 sqm of leasable office space. It has been rated Outstanding under BREEAM New Construction with a score of 91.9 percent.

The ongoing construction of office projects in Bucharest fell by around 50% year-on-year by H1 2024, to 46,900 sqm, with their completion scheduled for 2024-2026, according to an iO Partners report. 

According to a report published by Newmark Polska, the Warsaw office market has entered a period of stabilization, with development activity continuing at a moderate but steady pace. During the second quarter of 2024, the Polish capital’s vacancy rate edged down over the quarter, while more and more tenants chose to renegotiate leases. Meanwhile, the growing occupier demand for sustainable and high-tech offices led to an increase in refurbishment or repurposing projects.

The office leasing volume closed in H1 2024 grew by 0.2% compared to the same period of last year, with Bucharest seeing the biggest activity, followed by Cluj-Napoca and Timișoara, according to a report by Fortim Trusted Advisors.

Romanian developer One United Properties has announced the contracting of a €20 million increase in the financing obtained in 2021 for the development of One Cotroceni Park Office Phases 1 and Phase 2. The financing increase was backed by BCR and BRD and will be used to reimburse shareholder loans and cover other costs related to the credit facility increase transaction.