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News Prague office market set to revive in 2017
14
Feb
2017

Prague office market set to revive in 2017

by Ákos Budai
Office tenants can look forward to a new supply of administrative space that is going to be delivered to the Prague market in 2017 and 2018. Last´s year paradox, when the economy was booming and the market registered a robust demand for new office space, but the amount of new completions dropped to a historical low, is forecast to be cleared out in the months to come. Currently, there are 330 000 sqm of new offices under construction in Prague out of which approximately half (171 000 sqm) is expected to be delivered this year. JLL looked at the largest office submarkets of the Czech capital in detail.
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News Futureal hands over new office building in Budapest
09
Feb
2017

Futureal hands over new office building in Budapest

by Ákos Budai
Futureal Group handed over the Skypark office building as the latest member of the Corvin Promenade. The 25,000 sqm business center boasts the latest technology since it is planned to meet the needs of technology and R&D. 
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News Czech open-ended fund buys Bratislava office building
08
Feb
2017

Czech open-ended fund buys Bratislava office building

by Ákos Budai
ČS Real Estate fund, the largest and oldest Czech open-ended property fund, managed by REICO, has acquired the Park One office building in Bratislava for €35.6 million from private investment firm Falcon II Fund. 
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News Atenor sells Budapest office building to Hungarian investors
03
Feb
2017

Atenor sells Budapest office building to Hungarian investors

by Ákos Budai
Belgian developer Atenor announced the sale of building A of the Váci Greens office complex in Budapest to a group of private Hungarian investors. This building is the first of the three buildings built by Atenor on the Váci Corridor.
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News Polish regional office markets on the rise
03
Feb
2017

Polish regional office markets on the rise

by Ákos Budai
In 2016, total office stock in Poland’s eight key regional cities (Krakow, Wrocław, Tricity, Katowice, Poznań, Łódź, Szczecin and Lublin) rose to nearly 4 million sqm. Krakow, Wrocław and Tricity remain the largest regional office hubs. Office take-up hit nearly 590,000 sqm, which represented a 50% rise on the average for the years 2011–2015. Cushman & Wakefield presented an overview of the Polish regional office market for 2016 in its latest report.
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News Zeus Capital Partners LP sells Sofia office building
02
Feb
2017

Zeus Capital Partners LP sells Sofia office building

by Ákos Budai
Zeus Capital Partners LP, a private equity fund managed by Zeus Capital Management has sold Kambanite Business Centre (KBC), located in Sofia, Bulgaria, to a group of undisclosed European institutional investors. This is the Fund’s largest portfolio investment, which was acquired at the end of 2011.
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News Strong competition for Prague and Bratislava
02
Feb
2017

Strong competition for Prague and Bratislava

by Ákos Budai
In most Central and Eastern European countries the commercial property market is heavily concentrated in the capital city and modern offices in secondary or tertiary cities are virtually non-existent. Luckily, that is not the case in the Czech Republic, where there are cities outside of Prague, most notably Brno, that offer attractive opportunities for international companies. Czech-based developer CTP invited us for the opening ceremony of the new Courtyard by Marriott hotel and showed us the city’s property market.
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News Savills to manage two Wroclaw properties
01
Feb
2017

Savills to manage two Wroclaw properties

by Ákos Budai
Savills has been appointed by Echo Investment to manage an 16,000 sqm office building, Nobilis Business House in Wrocław. The company has also been appointed to manage the 16-storey, mixed-use Wratislavia Tower on behalf of Cinema Tower Sp. z o.o. The 20,000 sqm property officially joined Savills portfolio in December 2016.
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News Tenants to continue to enjoy the upper hand in Warsaw
31
Jan
2017

Tenants to continue to enjoy the upper hand in Warsaw

by Ákos Budai
In 2016, office supply in Warsaw rose by 65% on the annual average for the period 2011–2015. The largest number of new office buildings was delivered in the City Core and the Fringe. Take-up came predominantly from the business services sector. Cushman & Wakefield presented an overview of the Warsaw office market in 2016 in its latest report.
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News Is it time to say goodbye to property brokers?
26
Jan
2017

Is it time to say goodbye to property brokers?

by Ákos Budai
Search engines have become an integrated part of the daily life of people and companies as well. Not only the process of buying a book or planning a vacation has changed drastically over the last decade but companies looking for office space are also turning to the Internet more often. The latest Tea & Talk session, co-organised by RICS Hungary and VLK Cresa in Budapest, helped us understand how changes in technology will affect brokers, tenants and landlords.
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Latest news


New leases

  • Cărturești is set to become an anchor brand in the RIVUS project developed by Iulius, in Cluj-Napoca, where it will house the country's largest bookstore. The company will lease 2,500 sqm of space, spread across two levels.
  • M1 Poznań, managed by EPP, one of the largest family shopping centres in Wielkopolska, has just gained a new, unique tenant, CentrumRowerowe.pl, which is making its debut in Wielkopolska. In the summer, HalfPrice will also join the list of tenants of the centre, offering global brands, including fashion, home furnishings and sports goods at attractive prices. Customers can also already use the assortment of the recently opened Reporter clothing store and the Rainbow travel agency. All new contracts cover over 5,000 sqm of retail space.
  • Three companies from the PZU Group, one of the largest financial institutions in Poland and Central & Eastern Europe, have decided to lease space at Konstruktorska Business Center in Warsaw for another 10 years. The companies have renewed their lease for a total of over 6,500 sqm of modern office space in the building owned by Golden Star Group.

New appointments

  • Elżbieta Majdan is joining the Property & Asset Management team at Savills Poland as an Associate Director. Elżbieta brings 15 years of experience in managing and commercialising retail properties, gained while implementing key projects on the Polish market.
  • Savills Czech Republic announces new hires and promotions within its valuation team. Daniel Duchek has joined as a Senior Valuer, Alena Arnoldová has strengthened the team as a Junior Valuer, and Ivana Horáková has been promoted Valuer. Under the leadership of Marek Pohl, the team now consists of seven consultants specialising in the valuation of a wide range of assets – from commercial, residential, and hospitality properties to leisure, healthcare facilities, and land.
  • Ewa Nowak, a commercial property valuer, has joined the Valuation Department of international real estate advisory firm Newmark Polska as Senior Associate.

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