Residential developers have been the most active in terms of land acquisitions in the past 2.5 years, as they secured land plots which allow the construction of more than 30,000 units in all parts of Bucharest, according to data from real estate consultancy Cushman & Wakefield Echinox.
Companies are now concerned with creating the best conditions to meet the employees’ needs as they resume work in the office buildings, according to data from real estate consultancy Cushman & Wakefield Echinox.
Real estate investments amounting to around €1.2 billion are currently in various stages of negotiation, while over €600 million in investment volumes were completed in the first eight months of this year, according to real estate consultancy Cushman & Wakefield Echinox.
The total office stock in Bucharest reached 3.3 million sqm at the end of the first semester of 2022, with just one new building (AFI Tech Park – phase 2) spanning 25,000 sqm being completed in the second quarter of this year.
Industrial developer CTP will expand its project in Craiova with a new warehouse of 13,500 sqm that has been fully leased. Following the new investment slated for completion by the end of 2022, the total leasable surface will climb to 53,500 sqm.
The most exposed sectors to the inflationary pressures in Romania are the residential, industrial and retail ones, with a lot more resilience found in the office segment, suggest representatives of real estate consultancy Cushman & Wakefield Echinox.
The retail market in Romania is set to expand by more than 500,000 sqm in the next four years, with 10 of the projects in the pipeline each having more than 10,000 sqm, according to Cushman & Wakefield Echinox.
More than 50% of the industrial and logistics projects under construction in Romania are already pre-leased with leasing activity in Q1 2021 rising by 50% to over 300,000 sqm compared to the same quarter of 2021, according to a report by Cushman & Wakefield Echinox.
More than 72,000 homes were delivered across Romania during 2021, which has been a record for the past 32 years, according to real estate consultancy Cushman & Wakefield Echinox.
On 12th October, a new service office will open in the historic Stary Dworzec building in Katowice. The Cluster Stary Dworzec spaces will occupy 2,000 sqm of space.
A supermarket chain Dealz has joined the tenants of Galeria Bemowo in Warsaw. The new tenant occupies a unit of approximately 480 sq m, on the ground floor of the shopping centre.
Polish interior design brand Dekoria has concluded a lease agreement for premises at Homepark Janki near Warsaw. The space occupied by the company is 133 sqm.
New appointments
Rafał Bochenek has been appointed to the position of Associate Director, Land Acquisition Manager at the Polish branch of Savills. He will work closely with the firm’s industrial agency and investment advisory team to strengthen its Industrial Services Hub, which delivers services to tenants, investors and developers of logistics properties
Robert Skládal joins Cushman & Wakefield as a partner in the retail leasing team and will lead the team focused on shopping centres.
JLL in Prague announces the appointment of Milan Kilik as its new Head of Office Agency for the Czech Republic as of beginning of October 2022.
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