The office leasing market in Romania has recorded a fall of 18% in gross take up in the first half of 2022 compared to the same period of last year, although Bucharest has seen a slight increase, according to a report by real estate consultancy JLL Romania.

HB Reavis has completed the construction of Varso Tower, the tallest skyscraper in the EU, designed by Foster + Partners. The first tenants will soon move in.

Rent and maintenance charges are rising, lease periods are being prolonged, and contracts are subject to higher and higher annual indexation of rates. Nevertheless, offices in all markets in Poland still enjoy record-high popularity

A 1,500 sqm mixed-use real estate development is underway in the Sóskúti Ipark Park, located next to the M7 motorway in the Budapest area. 

Revetas Capital has announced that since the beginning of 2022, 14 lease transactions have been secured in the Buma Square office complex in Kraków, Poland, with a total area of 4,512 sqm, consisting of new leases, extensions and renewals, of which 416 sqm represent new leases.

The vacancy rate of the Prague Office market has not changed in Q2 2022 and remained at the same value as in the previous quarter. Nevertheless, the rents and service fees continue to rise and the volume of net take-up is the highest since the end of 2019, says Colliers.

Liberty Technology Park is one of the first technological parks in Romania, currently hosting a vibrant IT ecosystem. The 17,000 sqm office compound has been acquired by White Star Real Estate and its partners in 2019, planning to create a true mixed-use project, harmoniously blending the existing business community with new complementary areas. The first phase will include two residential buildings, currently under construction, followed by a separate building designed for a kindergarten and three office buildings, with generous retail spaces on the ground floor. Real estate consultancy company Griffes will oversee the commercial and leasing strategy of the project. 

The first phase of the Millennium Gardens office building has opened its doors with an occupancy rate of over 90%, following an investment of €150 million from Revetas Capital for the development of the North Tower. Millennium Gardens is part of the portfolio of assets of Revetas Capital in Hungary, the pan-European real estate investment advisor that also manages 12 retail parks across the country. The project is being developed by TriGranit, which has more than 20 years of experience and has successfully implemented more than 50 landmark projects.

Krajowy Ośrodek Wsparcia Rolnictwa (KOWR) has renewed its lease agreement at the Karolkowa Business Park office building, owned by the Menora Group, Shikun&Binui Group and M&A Capital. According to data from the Polish Chamber of Commercial Real Estate, ​the renegotiation of the 10,000 sqm contract is one of the largest transactions in the Warsaw office market for Q2 2022.

DBH Group, a Dutch-based international corporation, focusing on venture capital, flexible infrastructure & corporate services, has leased office spaces in two buildings owned by Skanska in Romania and Hungary.