The vacancy rate in Bucharest’s office market remained flat at 16.5% in the first quarter of 2022, similar to last year, although there is a growing gap between Class A projects and older buildings in areas with lower demand, according to real estate consultancy Colliers. 

As the pandemic forced many of us to shift a work-from-home routine, some people predicted that “the office is a dead concept” and that it will never return. I would agree that the office as we knew it is actually really dead, but the “new office” is here and all of us need to adapt to it, writes Petr Florián, Associate Director, Office Leasing at Avison Young in the Czech Republic for Property Forum in an opinion piece.

Real estate advisory firm Savills has been appointed as sole letting agent for office space in West Forum in Wrocław. The office complex is owned by GNT Ventures Properties managed by TFG Asset Management.

Consulting company Walter Herz has been selected as the sole agent responsible for the commercialization of space in the Blue Office complex, which is a complementary office part of Blue City mall in Warsaw.

Globalworth’s net profit in 2021 significantly improved to €47.5 million (2020: net loss of €46.8 million) while it recorded its best year in office leasing with 214,500 sqm of spaces taken up or extended. The company has released its annual report and audited consolidated financial results for 2021.

One United Properties continues to develop its Bucharest-based office portfolio which has reached an estimated value of almost €400 million. Property Forum spoke with Mihai Păduroiu, CEO of the Office Division of One United Properties, about the transformation in the office market triggered by the pandemic and the drivers of demand going forward.

Polish warehouse developer MLP Group signed 48 contracts last year to lease a total of nearly 300,000 sqm of warehouse space, approximately 50% more than in the preceding year. The property portfolio managed by MLP Group has already exceeded 1 million sqm, with a further 2 million sqm under development.

Apollo Rida has extended its cooperation with Savills and appointed the firm as its sole leasing agent for office space in Jerozolimskie Business Park in Warsaw.

2021 was a busy year for Romanian real estate agency Griffes with 44,000 sqm of office space leased, a new project as co-investor and the company’s first international leasing mandate. Andreea Paun, Managing Partner and Founder of Griffes talked to Property Forum about the results of last year and shared the company’s expansion plans for 2022.

Knight Frank Hungary has appointed Petra Holy to lead the OSCA (Occupier Services and Commercial Agency) services as Head of Office Division. Petra is an experienced leasing, property and asset manager with over 15 years of demonstrated experience in the real estate industry, specializing in landlord representation and strategic consultancy. Previously, she has been involved in the industry both as a consultant and as a landlord, which gives her a full coverage overview.