The office vacancy rate in Budapest increased to 13.2%, representing a 0.6 pps growth quarter-on-quarter and a 2.2 pps increase year-on-year. Two smaller buildings have been handed over while the demand has increased by 14% compared to the previous quarter, the Budapest Research Forum (BRF) reports.

Czech developer Contera has opened Organica office building in Ostrava. The grand opening was attended by representatives of the main client, the Scandinavian company Tietoevry, as well as the Mayor of Ostrava and the Governor of the Moravian-Silesian Region. 

Garanti BBVA bank has extended its lease in YUNITY Park project for the next five years, maintaining its 7,200 sqm HQ in the building owned by Genesis Property. With the recent transaction, the lender will reach 20 years of constant presence in the same business campus. 

Deloitte has renewed the office lease agreement for its three delivery centres spanning 12,500 sqm in Bucharest-based Oregon Park, owned by Lion’s Head.

The Carol Davila University has completed the purchase of the Quest boutique building in central-eastern Bucharest in a deal brokered by Crosspoint Real Estate. 

Workspace startup Nooka Space has announced the appointment of Irina Leca as CEO of the company, as well as the raising of a new investment round worth €2 million. 

Property developer Portland Trust has inked a partnership with Griffes for managing the leasing and commercial operations of Bucharest-based J8 Office Park.

GalCap Europe has secured a new mandate to manage and reposition the Pressburg Trade Center in the Slovakian capital of Bratislava, the company announced on its LinkedIn page. 

More and more companies are considering expanding into Czech regions, but a lack of suitable office space is preventing them from doing so. In regions outside of Prague or Brno, there is not only a shortage of modern space for rent, but also a lack of flex operators. Those types of businesses could benefit from the growing interest of international companies in the Hub & Spoke or Flex & Core model, reports Colliers. 

Facebook parent company Meta has paid £149 million to end a lease contract for the 1 Triton Square office building owned by British Land in London. The move shows that big tech companies are looking to lease less office space as employees adopt the hybrid work system, FT.com reports.