GTC has handed over the Pillar office building in Budapest which will almost fully be occupied by ExxonMobil. This BTS project was the biggest pre-lease ever (29,000 sqm) on the Hungarian office market.

Colliers published a survey of the Prague office market for Q4 2021. It shows that the vacancy rate stopped rising last year due to weak construction and rents rose to a new high. The market with modern office space will not increase significantly even in 2022.

As Romania has eliminated all pandemic restrictions earlier this week, companies plan to increase the number of employees returning to the office in the near future. 

AFI Europe Romania says that all its office portfolio comprising seven projects has received the Well Health-Safety Certification.  

Czech investment company REICO investiční společnost České spořitelny, a.s. (REICO IS ČS) as of February has appointed Savills as property manager for its Prague office complex Bořislavka. Savills will work in cooperation with Active Retail Asset Management (ARAM) who will manage the retail scheme within the asset.  

Europa Capital and ConvergenCE have announced the new brand identity of the recently acquired Akadémia Business Center in the heart of Budapest. Alongside the launch of the refurbishment works, the riverside building will be rechristened Academia, as a vital part of its transformation and repositioning.

With six new office buildings slated for delivery this year, the leasable stock will grow by 135,700 sqm, which is the lowest level since 2017, according to real estate consultancy CBRE.

More than half of the 1.24 million sqm of office space leased in 2021 was located in Warsaw. Renegotiations accounted for nearly 45% of the total transaction volume.  However, the main regional cities now account for three times more square metreage under construction than the capital city.

Experts from the consulting company BNP Paribas Real Estate Poland summed up the final quarter of 2021, regarding office space in Warsaw. The market closed the year with 325,000 sqm of new modern space, but vacancy rate are increasing, and an escalation in contract renewals is agitating the situation within the demand structure. Therefore "flexibility" has turned out to be the most important word for all market players. The authors underline that the situation in 2022 will be comparable.

The Lakeside office building in Warsaw's Mokotów district has been granted a building permit. Construction is already underway.