ARTICLES LABELLED WITH TAG Colliers

Romanian developer Genesis Property has purchased a 30,000 sqm land plot from Stizo Invest, for an undisclosed sum, in a transaction brokered by Colliers.

Colliers announced a change in the Managing Director position in Slovakia. Richard Urvay, Colliers’ current Managing Director in Slovakia is departing the business by the end of April to take up a client-side role. Tewfik Sabongui, current Managing Partner in the Czech Republic, will expand his responsibilities to include being Managing Director of Slovakia.

Park Avenue Tower in Tirana has become the first Albanian office project to secure BREEAM Design Stage certification with an Excellent rating, a level in alignment with European standards for commercial investments. The process of certification was conducted by experts from Colliers Poland with support from the Colliers Albania team.

A recent Colliers survey, based on an analysis of responses from more than 500 Czech employees across a range of industries, has revealed that over 40% of employees consider telecommuting to be a barrier to their career progression.

Around 38% of industrial rental demand came from Bucharest in 2023, down from 48% the previous year, according to Colliers data.

Higher borrowing costs and the price gap between buyers' and sellers' expectations are some of the reasons why transaction volumes are significantly below the 10-year average level of ca. €10 billion. This is according to a commercial real estate investment volumes survey by Colliers presented at a February meeting of Czech and Slovak investors and other financial experts.

Romania’s retail stock is set to expand by around 90,000 sqm in 2024, of which more than half will be based in Pitești-based Argeș Mall. However, the development pipeline is strong for the 2025-2028 period, with a few large and dominant shopping centres expected to add several hundred thousands of leasable space to the local market, according to Colliers data.

Although office leasing opportunities are already very limited in Prague, the good news is that Colliers' survey has reported rather stable rental prices throughout the last year.

Colliers has promoted Andrzej Gutowski as ESG Chief Officer in CEE, including Bulgaria, Czech Republic, Hungary, Poland, Romania, and Slovakia.

Bucharest’s office stock edged close to 3.4 million sqm at the end of 2023, following the completion of projects with a combined area of 110,000 sqm last year. However, the market will see fewer deliveries by the end of 2025 as developers have put projects on hold due to uncertainties around demand caused by the adoption of hybrid work.