Net absorption on the Budapest office market in Q2 2018 amounted to 40,140 sqm, which marks more than a doubling year-on-year. The Budapest Research Forum published its latest figures.

Operators of co-working spaces rented nearly 20,000 sqm of office space in existing or developing buildings in Bucharest in H1 2018, which represents a 13,4% share in the total transaction volume, estimated at around 150,000 square meters, according to data from Cushman & Wakefield Echinox.

Israeli-owned real estate developer Hagag Development Europe has commenced construction works on its first office project in Romania, H Victoriei 109. The developer is planning to invest over €8 million euro in the 6,000 sqm project.

Entrepreneur Ovidiu Sandor’s Mulberry Development has handed over the first phase of ISHO Offices in Timisoara, Romania. Survey Sampling International was the first company to move in with more than 130 employees.

The landlord representation team at BNP Paribas Real Estate Poland will be responsible for leasing vacant space as exclusive agent in the Europlex and Irydion office buildings and the A building in the Wiśniowy Business Park complex in Warsaw.

Heiko Himme has been appointed Head of Real Estate Central Europe at WeWork. Currently Head of Office Agency Germany and Team Leader Office Agency Berlin for Cushman & Wakefield, Heiko will join WeWork by the end of the year. Kathrin Hellwig who has been with Cushman & Wakefield since 2013 will take over his responsibilities as Team Leader of Office Agency – Berlin with immediate effect.

Hong Kong Central remained the most expensive office market in the world, according to CBRE’s annual Global Prime Office Occupancy Costs report.

Colliers International Romania advised on the sale of Maestro Business Center office building in Cluj-Napoca, one of Romania’s most important regional cities. The acquisition made by First Property Group, a UK investment fund, favors the opening of a new investment market in Cluj-Napoca.

AFI Europe Romania finalised the acquisition of a land plot in Bucharest, in the proximity of AFI Park 1-5 and AFI Cotroceni shopping mall, with a surface of approximately 43,000 sqm, in a transaction worth €23 million.

With the purchase of the Visionary office building in Prague, CA Immo and Skanska have successfully signed and closed the second transaction between the two companies in the CEE region in 2018. The gross transaction volume is approx. €68 million.