ARTICLES LABELLED WITH TAG office

Property developer and investor PPF Real Estate has invested close to €1 million in redesigning the ground floor of Metropolis Center, the office building that it owns in central Bucharest. 

Generation Park Y, developed by Skanska in Warsaw’s Wola district, has been awarded the LEED Core & Shell certificate at the Platinum level - an international system of building assessment for energy savings and reduction of water consumption. Consequently, it has an impact on reducing carbon dioxide emissions.

Among four countries – Poland, Romania, Czech Republic, and Hungary, more than half of respondents claimed they work only from the office (52%), according to a survey conducted by Skanska's commercial development business unit in CEE. The number of such office workers increased compared to May 2021, especially in the Czech Republic and Poland. ​The preferred work model has not changed much since then, but in the Czech Republic more people want to work only from the office (22% vs 17% in May 2021).  

The Capital Park Group has completed the revitalisation of the Norblin Factory. The complex was granted an occupancy permit at the end of August 2021. The multifunctional project has a total area of over 65 thousand square metres. Its office space has already been fully leased. Visitors to the Norblin Factory can enjoy cultural, entertainment and dining concepts including the original KinoGram cinema, the Bio Bazar organic market, and the capital city’s largest food court Food Town.

As a result of the COVID-19 pandemic most companies switched to remote work and reduced the demand for office space, which is reflected in Colliers “Warsaw Office Zones Guide” report’s data. Thanks to vaccinations and a reduction in the number of COVID-19 cases, in Q2 and Q3 2021 we have seen a gradual return of employees to offices and an increase in tenant activity in the Polish capital.

Despite almost all European office employees working from home last year, the empty workplaces did not lead to a reduction in the expenditure that companies had to fulfil had the workforce been in the office. The average costs per FTE (Full-Time Equivalent) fell by only 2% and amounted to €9,468. These findings have been published by Colliers, Occupier Cost Index (OCI), which comprises data from 29 countries, 3,990 buildings, 26.1 million square meters of office space and 1.96 million FTEs.

Office development has slowed down due to property market uncertainty. In the meantime, employees have returned to offices and companies have resumed relocations. The ensuing supply and demand imbalance is likely to result in a supply gap over the coming year or so which will continue at least until 2025, say Cresa agency experts.

ESET, a global leader in cybersecurity, unveiled its plans for the previously announced ESET Campus – an innovation and technology hub based in its headquarters city, Bratislava, Slovakia. The 55,000 sqm campus designed by architectural studio BIG-Bjarke Ingels Group will house the company’s new headquarters and will become a centre of excellence, creating strong cybersecurity, AI and innovation ecosystem for Slovakia and Central Europe.

Immofinanz's results of operations rose by nearly 60% year-on-year to €180.4 million in Q1-Q3 2021 and even substantially exceeded the comparable 2019 pre-crisis level (+29% versus Q1–3 2019). Net profit turned clearly positive at €295.7 million and also surpassed the pre-crisis level in 2019 (Q1–3 2019: €202.6 million).

The Warimpex Group achieved a solid operational performance in the first three quarters of 2021. The hotel segment in particular recovered versus the previous year and there are also successes to report on the office and development side, with two new lease agreements and the start of construction on a property. The Group’s result for the period improved from a loss of €31.2 million to a gain of €2.5 million. The result for the third quarter alone also climbed into positive territory, rising from minus €9.4 million to €0.8 million.