Colliers International announced that Richard Urvay has been appointed as the new Managing Director for Slovakia. He starts his new position on 1 September with Ermanno Boeris stepping down as current Managing Partner of Colliers Slovakia at the end of September.

The reconstruction of Magazinului Bucuresti, the former universal shop located at the crossroads of Lipscani Street and I.C. Bratianu Boulevard in Bucharest, will be finalized by the end of this year. The new building will accommodate diverse concepts, from retail and services spaces to office, co-working or dining spaces. Colliers International Romania was assigned as exclusive agent for the leasing of the project.

The Romanian real estate market recorded good results in the first half of 2019, with activity on office and investment segments getting more dynamic than that of some CEE peers. With the full-year GDP expansion figure likely to top 4%, Romania also remains an outlier in terms of economic performance when compared to other CEE economies. According to Colliers International Romania, there is a favourable perspective for the Romanian real estate market that could be maintained by year-end.

Timpuri Noi Square, Vastint Romania’s first project, reaches an occupancy rate of 90% within the 3 buildings situated in Bucharest, leasing more than 47.000 sqm, and welcomes since last year tenants like Bolt (formerly Taxify), Allergan, Exiger and Streamwide, developing a community of more than 3,000 employees.

Flow volume into the CEE-6 commercial real estate markets picked up in Q2 2019, registering a cycle-high €3.3 billion for the quarter. Following on from the weaker Q1, H1 2019 volumes at €5.5 billion were thus just -3% down on H1 2018’s record, according to Colliers International's latest report.

Flow volume into the CEE-6 commercial real estate markets picked up in Q2 2019, registering a cycle-high €3.3 billion for the quarter. Following on from the weaker Q1, H1 2019 volumes at €5.5 billion were thus just -3% down on H1 2018’s record, according to Colliers International's data.

Colliers International Romania has been assigned to provide property management services for the office complex The Office in Cluj-Napoca, owned by Dedeman, the DIY store chain who marked their entrance on the real estate market in 2018 by acquiring The Bridge offices in Bucharest. Thus, the total portfolio managed by Colliers reaches almost 500,000 sqm: 210,000 sqm are located outside Bucharest, out of which over 100,000 sqm represent offices only.

Around 77% of Bucharest’s modern office space is within 10 minutes’ walking distance from a metro station, according to the latest data from Colliers International. The interest in office developments is still focused on northern and western locations, as the largest office deliveries by the end of 2020 will be near Aurel Vlaicu (73,200 sqm) and Politehnica (58,400 sqm) metro stations.

Colliers International Romania has been assigned to provide property management services for Business Garden Bucharest, the newest office complex developed by Vastint Romania, in the Orhideea area in Bucharest. As a result, Colliers reaches a managed portfolio of over 400,000 sqm and strengthens its property management activity for offices in the Capital’s Center-West area.

Prague’s modern office stock located within a 10-minute walking distance from a metro station grew from 2.54 million sqm to 2.69 million sqm between Q4 2017 and Q1 2019, taking the amount of Prague offices located within this walking distance to 77% of the total stock, according to the third annual edition of the Prague Office Metro Map from Colliers International Czech Republic.