IT Services Hungary, the largest ICT employer of Hungary has decided to move its Budapest site to Skanska’s Mill Park, from Q2 2018 and will occupy approx. 17,300 sqm in the second phase of the complex. In the leasing process, ITSH was advised by Colliers International.

2016 reached the volume of €11.8bn in investment markets across Poland, Czech Republic, Slovakia, Hungary, Bulgaria and Romania, according to a research report by Colliers International. Aside from Poland, investment flows in 2017 will be close to or higher than 2016’s.  The retail sector might see continued rental growth and high investment levels across the region.

The sound global and domestic investment climate generated a major push in property investment activity in Hungary reaching the second highest ever registered annual volume of €1.7 billion in 2016, i.e. 133% up from the previous year. The most popular type of assets were offices with a share of 56%, followed by retail at 25%, while industrial deals accounted for 11% of the overall volume.

At the end of last year Colliers sold the former Bricostore DIY-unit in Törökbálint to Régió, a Hungarian toy company. The building has approx. 12,000 sqm of GLA and will be used by Régió for warehousing purposes.

Aberdeen Asset Management Deutschland AG has signed an agreement to sell the Construdava office building in Bucharest to AdamAmerica, the advisor of the seller, Colliers International reported.

Nordea Bank AB Branch in Poland is one of the new tenants of Olivia Star, a newly constructed building of the Olivia Business Centre in Gdańsk. It leased two floors there occupying nearly 2600 sqm. Colliers International supported the Scandinavian firm in this transaction.

2016 was marked by the wait for the Posnania shopping centre to open, with its 60,000 sqm of Gross Leasable Area (GLA). However, next year we will see the opening of as many as three buildings with an area of over 60,000 sqm of GLA: Galeria Północna in Warsaw, Wroclavia and Forum Gdańsk.

In 2016 the Romanian retail market was characterized by a high volume of delivered space and entry of new brands, which opened their first shops both in already existing shopping centers and in recently opened projects. Colliers International expects to see new names on the market, especially among Polish brands.

This more intense activity observed on the Hungarian industrial property market is fuelled by an increased number of leasing and sales transactions that resulted in the net absorption rate outpacing the new supply. From a development perspective the market is experiencing a new turn, as a number of speculative projects were initiated again, which was not the case for many years, as since the economic downturn, developers were almost exclusively focusing on build-to-suit type of projects.

Marvipol S.A. entered into a preliminary agreement for the sale of Prosta Tower office building in Warsaw. The buyer is an international fund. The seller was represented by Colliers International.