ARTICLES LABELLED WITH TAG office

Top Polish developers believe that in 2021 the real estate market will normalize and the vaccine will help it shake off the pandemic effects. They discussed investment markets trends at the online edition of Property Investment Forum 2020, organised by Portfolio in partnership with Property Forum.

Cushman & Wakefield Echinox has been appointed to manage the Ţiriac Tower office building in Bucharest’s Central Business District, starting with October. As a result, Cushman & Wakefield Echinox will be responsible for the management of daily administrative-operational activity within the project, through a team of specialists both on-site and at the headquarters, coordinated by Mihaela Petruescu, Partner Asset Services.

Cushman & Wakefield has entered into a partnership with Zeitgeist Asset Management and taken over property management of the investor’s Polish property portfolio.

The Q3 2020 property investment volume for Romania is estimated at €408 million, a value approximately 68% higher than the one registered in the same period in 2019. Although the road ahead is marked by uncertainty, considering the persistence of the COVID-19 pandemic and the restrictions associated with it, there is a consistent pipeline of deals which could be closed soon and throughout 2021. JLL has published its Bucharest City Report for Q3 2020. The report provides a detailed analysis of specific real estate markets in Bucharest: office, retail, industrial and residential.

The .big office building constructed by Budimex at ul. Zielińskiego 3 in Kraków for developer Ghelamco is to be managed by Colliers International.

Nokia has decided to extend its lease agreements with Globalworth for the office space it occupies in the West Gate and West Link office buildings in Wrocław, Poland. The contract, which covers an area of nearly 30,000 sqm, is the largest lease agreement signed in a Polish regional city market this year.

The construction of Warsaw EQ2 office building by Waryński Group will be completed in January 2021. The office building, which is being constructed in the Warsaw district of Wola, at the intersection of Wschowska and Ordona streets, will be equipped with modern air ventilation units that enable the selection of appropriate filters, adequately to the epidemiological threat. The operation of the ventilation system will be supervised by BMS system, monitoring air parameters. Additionally, individual spaces within the facility will be equipped with separate ventilation systems, while access to fresh air will be ensured with the installation of tilted windows in the offices.

Global real estate services firm Cushman & Wakefield has been appointed as a leasing agent for ECO City Katowice, an energy-efficient complex of office buildings under construction in Konduktorska Street in Katowice. This project combining offices and green areas with a total of 34,400 sq m of leasable space.

The occupancy costs of office spaces represent, on average, between 3- 4% of the turnover of services companies in Bucharest, and they may fall even below 2%, in some cases, according to an analysis by Cushman & Wakefield Echinox.

According to full-year economic outlooks, the Polish economy will contract by 3-3.5% in 2020 compared to the previous year. Nevertheless, Poland’s GDP is expected to return to growth in 2021 and expand by approximately 4% in 2020, reveals the latest report from global real estate services firm Cushman & Wakefield.