The massive delays in the issuance of permits for new real estate projects in Bucharest will put upward pressure on office rents, according to a report by Griffes

The Polish office buildings owned by PineBridge Benson Elliot and Sharow Capital - the Diamentum Office in Wrocław, Okrąglak and Kwadraciak in Poznań, Forum 76 in Łódź, Opera Office in Gdańsk and Vinci Office Center in Kraków - have renewed the WELL Health-Safety Rating certification. MVGM was responsible for the certification process of the office buildings.

Colliers has introduced a new Design and Build business line to complement its existing Workplace Advisory services. Together, these two areas can provide comprehensive one-stop solutions for tenants, from the idea of relocation to the handover process. 

A growing number of office developers in Romania are beginning to deliver to tenants unequipped, ”cold shell” space without fixtures and finishes. Meanwhile, tenants are investing at least €‎30 per sqm of their development budget for demolition and reconfiguration to adapt the space to specific needs and strategic plans, according to Colliers' data. 

Bucharest accounted for 75% of the total office space that was leased across major Romanian cities in Q1 2023 according to a study by Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance. 

Software industrial company Honeywell has expanded its lease in Globalworth’s BOC office building in Bucharest and will occupy over 24,000 sqm.

Romanian developer One United Properties has sold Bucharest-based One North Gate, an office building spanning 4,500 sqm with an occupancy rate of 80%, to Element Investiții Imobiliare, owned by domestic investors, in a deal worth €6 million. 

Romanian developer Iulius has announced plans for a new office building in the Palasi Iași complex. This will be the eight-office building in the complex that will be developed following an investment of around €40 million. 

E-commerce player eMAG has leased 10,000 sqm in Globalworth Square in Bucharest for its new HQ in one of the largest office leasing deals closed in the year to date.  

Cushman & Wakefield has summarized the first quarter of 2023 and trends shaping the Polish office market. While development activity in the core office locations continues to slow, occupier demand appears to be recovering, particularly in regional cities. Prime office rents in central locations are, however, on an upward trajectory.