In Q3 2017 gross demand on the Warsaw office market reached 198,600 sqm, which brought the 2017 YTD total to 589,500 sqm. The Polish Office Research Forum has published its figures for Q3 2017 for the office market in Warsaw.

One United Properties, a Romanian residential developer has entered the Bucharest office investment market by purchasing the North Gate office building in Pipera. The property was bought at a public auction for €16.8 million. The developer of the complex, Creativ Invest Grup, filed for insolvency earlier.

French real estate group Catinvest plans to expand Electroputere Parc, the company’s shopping mall in Craiova, by 9,200 sqm. The group has also started the construction of an additional mixed-use building which will comprise 12,000 sqm of retail space, 15,000 sqm of Class A office space and over 700 underground parking spaces. Total investment in will exceed €70 million by the end of 2018.

In 2016, the premises of the former Brno arms factory was taken over by CPI Property Group, which presented the development project Nová Zbrojovka. A new modern neighbourhood is steadily emerging from the brownfield in the wider centre of Brno. At present, the issue of transport infrastructure, the revitalisation of the surrounding area and the clearing of individual spaces is being addressed.

ICP Capital Partners has entered the Czech investment market with the acquisition of Na Rybníčku office building from an Irish private investor. The purchase price is believed to be approximately €5 million (CZK 130 million).

Corpus Sireo Real Estate has acquired the Oasis Florenc office property in Prague from an international investor. The purchased asset is located near the Vltava river and will now be included in the pan-European DEREIF SICAV-FIS fund. The parties agreed not to disclose the purchase price.

CBRE won the tender from REICO IS ČS for managing the 13,800 sqm Qubix office building, located in Prague 4, which is certified according to the LEED Platinum methodology.

Ghelamco has secured a €221 million loan for the construction of The Warsaw Hub from a consortium of five banks. Warsaw HUB, comprising three buildings, will have 113,000 sqm GLA of which 70,000 sqm of office space. The complex will also include retail space and a conference centre as well as two hotels. Completion is planned for 2020.

Triuva Kapitalverwaltungsgesellschaft (Triuva) has acquired the Green Day office building in Wroclaw, Poland from a Luxembourg fund advised jointly by GLL Real Estate Partners GmbH (GLL) and Investec Bank PLC. The purchase price is believed to be in the region of €48.5 million.

Prosperity on the office market in Lesser Poland’s capital continues, as is evident from the number of new schemes delivered to the market and those under construction and in the pipeline as well as the volume of transactions completed. Experts at BNP Paribas Real Estate Poland highlight that the market dynamics are not to any significant degree affecting rents or the vacancy rate which remain at a stable level.