Property developer Atenor delivered its office project Dacia One in central Bucharest at the end of December 2021, roughly five months after selling the building to Pavăl Holding, the owner of Romanian DIY retailer Dedeman. 

A survey carried out by professional services firm EY Romania among 40 owners of office buildings shows that 75% of them kept their current rent prices despite negotiations with tenants, while the rest lowered prices. 

Property group Globalworth has obtained the WELL Health-Safety Rating for the entire portfolio of almost 500,000 sqm consisting of 15 office buildings in Romania. 

More than 81% of Romanian employees surveyed by Genesis Property think they will be working in a hybrid or office-only system in 2022, while only 11% think their employer will still opt for the team to continue to work remotely starting January. 

The construction of a new office building on Budapest’s Róbert Károly Boulevard is about to start, as the owner of the RK60 office building, Raiffeisen Property Holding International (RPHI), has received the building permit for the project.

Primavera Development and Griffes have announced the launch of the construction of the Muse office building, to be located close to Miorita Fountain, in one of the most reputed office areas in Bucharest. The area offers unrivalled road connectivity and accessibility on DN1, towards both the heart of the city and the airport outskirts but also the high prestige of a historical neighbourhood. The total investment will exceed €16 million and is scheduled to be delivered in 2023.

Belgian group Atenor has appointed Colliers to offer complete property management services for the Dacia One and @Expo office projects in Bucharest. 

Ghelamco’s latest skyscraper at Warsaw UNIT has received a BREEAM certificate at the Outstanding level, the highest possible rating. This is the first certificate at this level for a high-rise building in Poland and the second one in Warsaw. The certificate was awarded based on the BREEAM International New Construction 2013 system.

CA Immo has selected international consultancy agency JLL as the exclusive agent responsible for the commercialisation of three buildings in its portfolio in Poland - Sienna Center, Bitwy Warszawskiej Business Center and Warsaw Spire C.

The office market is changing due to the coronavirus pandemic, albeit not as dramatically as initially expected. Offices as a concept are definitely not over and working from home is not becoming a lasting standard – it has been confirmed that it has its limitations and that personal contact is irreplaceable. A hybrid model, combining working in the office and at home, will likely be more common. Office space take-up is still below the pre-crisis figures, but the activity on the market has been growing recently. For the time being, the growth has not been enough to justify the growth in rental prices that would be necessary due to an increase in construction material prices, but both can be expected to grow in the future. The crisis has halted the progress of some schemes, so we will not see a major increase in new office stock before 2023. This could result in demand overhang, and thus in increased rents in the years to come, according to Cushman & Wakefield.