In Q1 2021, industrial take-up on the Czech market registered an increase of 147% compared to the same quarter of the previous year. The Industrial Research Forum announced industrial market figures for Q1 2021.
The pandemic year turned out to be a bumper year for industrial and logistics, with total demand increasing by a staggering 72% over 2019, to nearly 784,000 sqm of leasing deals, Colliers International Romania data shows.
The office market in Bucharest continues to grow, with 124,000 of modern office space delivered in the first nine months of the year 388,000 sqm more in the pipeline, according to Cushman & Wakefield Echinox. The commercial stock of office buildings in Bucharest reaches about 2.9 million square meters with an additional 150,000 sqm of owner-occupied stock.
During Q3 2020, gross take-up on the Czech industrial market reached 289,400 sqm which is a decrease of 21% year-on-year. Still, the vacancy rate decreased over the quarter. The Industrial Research Forum announced the industrial market figures for Q3 2020.
Real estate professionals surveyed by the RICS in Q2 2018 now believe that the Czech investment market has reached the peak of the current cycle while the Hungarian and Polish markets are also close to peaking. Nevertheless, market sentiment is still positive on both the occupier and investment market in all CEE countries monitored by the RICS Commercial Property Monitor, including Croatia and Romania.
In 2017 the Bucharest office market has posted results close to the 2016 record ones, taking into consideration transactions in Class A and B buildings. 2018 is expected to bring growth and new demand from players that are going to enter the market, but also of the existent ones who will extend or relocate. The annual Knight Frank report – European Commercial Property Outlook – estimates that European commercial property markets enter 2018 with positive momentum.
The outlook for Central and Eastern European markets is still positive according to the RICS Commercial Property Monitor. Results for Q3 2017 show that both occupier and investment demand are still on the rise across the region. The peak of the current cycle is, however, undoubtedly getting closer.
Occupier and investment sentiment remains positive across all Central and Eastern European countries tracked by the RICS Commercial Property Monitor. Results for Q2 2017 show that Hungary and the Czech Republic continue to post the strongest overall results. The vast majority of respondents expect new investors to enter the market with the presence of local and CEE investors predicted to increase across the region in the year ahead.
Westinghouse Electric Company will occupy a space of over 1900 sqm in the Zabłocie Business Park B office building in Kraków. JLL represented the tenant during the contract negotiation process.
Grupa Azoty, a producer of fertilizer and chemical components has extended its lease in the Warsaw Trade Tower. The company occupies 1,160 sqm in the skyscraper, which is owned by Globalworth.
108 Agency Slovakia has mediated the lease of 720 sqm for its client Mercurtrade in Beta – Car Park Pezinok.
Spaceflow, a tenant experience company, appoints Ken Norton as its Vice President of Sales. Among Norton’s goals is to accelerate the growth of its client base, while scaling Spaceflow's sales team in their international markets and optimizing the sales processes. Norton joined Spaceflow after three years as Head of Sales at LandInsight, now Landtech. Prior to joining LandInsight, he was in Business Development at Estates Gazette.
Benoit Lheureux will replace Gerard Gallet as a CEO of Auchan Polska. Gerard Gallet will remain a Member of the Board.
Tomasz Łapiński, former CFO of Cordia Poland, has returned to the company as Development Director and Vice President. He will be responsible for strengthening Cordia's position in Poland, its development and further integration with Polnord.
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