ARTICLES LABELLED WITH TAG office

While in the 90s many companies have opened offices in several city districts, today they are trying to rationalise costs by divesting older buildings. Among the sellers is the insurance company Allianz, which thus has sold its 2 buildings in Bratislava, reports YIMBA.sk.

The new Roztyly Plaza office building in Prague 4 has become the headquarters of the automotive company Volvo Car Czech Republic and TSC Spectre. The developer and investor of the project is Passerinvest Group.

The CEE office market has been coping with post-COVID consequences and forcing both landlords and tenants to explore opportunities to improve space utilisation. Expert speakers at CEE Property Forum 2024 in Vienna have revealed interesting strategies for the best office assets in the panel dedicated to the office market.

Red Bull has become a new tenant in the Churchill Square II office complex, which is managed by the investment group Českomoravská Nemovitostní (ČMN).

Close to 80% of the office stock is at risk of obsolescence in markets such as Amsterdam, Paris and London, while in CEE-based capital cities this figure stands at an average of 43%, according to a report by Cushman & Wakefield Echinox.

Praktiker Real Estate, the property company owned by Turkish investor Omer Susli, has purchased the Muntenia Business Center offices, in central Bucharest, from Longshield Investment Group for €8 million.

In total, 121,000 sqm of office premises in 6 A-class office buildings that form a significant part of the Investika real estate fund´s portfolio in Poland has achieved international environmental BREEAM certification. Four properties have been certified at the “Excellent” level, while two have obtained the “Very Good” level. Successful BREEAM certification, one of the two most widely recognized international sustainability standards for buildings, is part of Investika real estate fund´s ESG strategy.    

Leasing activity on the Warsaw office market continues unabated despite low new supply levels, pushing the vacancy rate down to 10.7% Meanwhile, pre-lets are on the rise, indicating growing occupier interest in office buildings under construction, reveals the latest quarterly report from BNP Paribas Real Estate Poland.

After nine months of this year, the Echo Investment Group has strengthened its position in key sectors of the Polish real estate market. It has also entered the private student housing segment, starting the construction of two projects. The total value of the Group's assets at the end of September amounted to PLN 6.6 billion (ca. €1.5 billion), while cash reserves exceeded PLN 469 million (ca. €107.5 million). In November, Echo signed a conditional sale agreement for the React office building in Łódź.

CA Immo recorded a 4% increase in rental income to €179.1 million in the first nine months of 2024 versus 2023 despite the sale of non-strategic properties, while it posted a net loss of €33.4 million compared with a profit of €61.1 million in the same period of last year.