Europa Capital and ConvergenCE have announced the new brand identity of the recently acquired Akadémia Business Center in the heart of Budapest. Alongside the launch of the refurbishment works, the riverside building will be rechristened Academia, as a vital part of its transformation and repositioning.

With six new office buildings slated for delivery this year, the leasable stock will grow by 135,700 sqm, which is the lowest level since 2017, according to real estate consultancy CBRE.

More than half of the 1.24 million sqm of office space leased in 2021 was located in Warsaw. Renegotiations accounted for nearly 45% of the total transaction volume.  However, the main regional cities now account for three times more square metreage under construction than the capital city.

Experts from the consulting company BNP Paribas Real Estate Poland summed up the final quarter of 2021, regarding office space in Warsaw. The market closed the year with 325,000 sqm of new modern space, but vacancy rate are increasing, and an escalation in contract renewals is agitating the situation within the demand structure. Therefore "flexibility" has turned out to be the most important word for all market players. The authors underline that the situation in 2022 will be comparable.

The Lakeside office building in Warsaw's Mokotów district has been granted a building permit. Construction is already underway.

Fortim, a member of the BNP Paribas Real Estate Alliance, has expanded its property management portfolio with the office project Maestro Center in Cluj-Napoca and Tureni Industrial Park in Cluj County. 

While in H2 2021, gross take-up on the Brno office market reached 38,100 sqm, which represents a 57% increase in comparison to H1 2021 and a 50% increase y-o-y, Ostrava office market gross take-up in the same time reached 1,600 sqm, representing a drop of 91% compared to H1 2021 and staying stable in a y-o-y comparison. The Regional Research Forum announced the Brno and Ostrava office market figures for H2 2021.

CEE-based flex workspace provider New Work is introducing a new “Space in the Cloud” service which not only helps new and existing tenants save money but allows them to manage their workforce in a more flexible and ESG-compliant way.

Apollo Rida has extended its cooperation with Savills and appointed the firm as its sole leasing agent for office space in Jerozolimskie Business Park in Warsaw.

According to a report published by BNP Paribas Real Estate Poland, around 715,000 sqm of modern office space was under construction within Poland’s eight largest markets at the end of 2021. Experts also note the further strengthening of the hybrid work model, the increasing popularity of various forms of flexible office working, and the growing importance of ESG solutions. An important factor shaping the market in the nearest future will be the rising costs of living, which will ultimately mean higher base rents and increased service charges.