Bank PKO BP inked a long-term deal to lease ca. 34,550 sqm office space in the Warsaw Skysawa project by Polski Holding Nieruchomości (PHN) to be completed in Q4 2022, PHN said in a market filing without disclosing the value of the deal.

Gross take-up on the Prague office market for the whole year of 2021 increased by 16% compared to the previous year to the level of 387,100 sqm. Prime headline rents also increased in Q4 2021 and ranged between €23.50–24.00 per sqm per month in the city centre. The Prague Research Forum published office market figures for Q4 2021.

The Polish Chamber of Commercial Property (PINK) has published figures on the office market in Warsaw for Q4 2021. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark Polska, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.

In Q4 2021, for the second consecutive quarter, no new buildings were completed on the Budapest office market. Total demand reached 112,280 sqm in Q4 2021, representing a 38% increase quarter-on-quarter, and a 30% increase year-on-year, the Budapest Research Forum (BRF) reports.

New demand for office spaces in Bucharest soared 47% to 104,000 sqm year-on-year in 2021, while total demand volumes gained 23% to 263,000 sqm, according to real estate consultancy Colliers. 

The first phase of the Corvin Innovation Campus, with almost 17,200 sqm of office space, has reached its highest point. Developed by Futureal and located in the immediate vicinity of Corvin Promenade in Budapest, the first phase of the 30,000 sqm complex is expected to be completed by the end of 2022, while the second phase is scheduled for completion in Q4 2023.

Beverages maker Heineken Romania will relocate its HQ to a new building under development in northern Bucharest. The company will occupy 3,200 sqm, similar to the surface it has leased in the S-Park project, owned by Immofinanz, according to profit.ro. 

Romanian developer One United Properties has completed the first phase of Bucharest-based One Cotroceni Office Park, with a gross leasable area of 46,000 sqm. The company said it has leased 75% of the office and commercial spaces by the time of delivery. 

The change in the office market which we witnessed in 2021 was only the warmup for what is to come in 2022 and forward. The sharing economy and digitization are driving the disruption in the office industry and the adaption of hybrid work models from international corporations are acting as a booster. New Work’s annual Flex Office Market Report 2022, presented in Warsaw and broadcasted internationally, provides some insights.

CBRE has secured a property management mandate for CA Immo's entire Budapest office portfolio of 9 buildings, the company announced on LinkedIn.