The Váci Road office corridor, the central business district (CBD) and the inner quarters of Pest are the most significant office locations in Budapest. The Budapest office of CBRE has synchronized its office market database with the metro lines and stations to highlight the current status of the city’s office market.

Business Link and Skanska will co-create an innovative ecosystem for start-up companies, small and medium enterprises, and companies from the business services sector in CEE. The developer has invested in Business Link – the largest network of co-working space and private offices in Poland. Because of Business Link’s planned international expansion, the company will become one of the biggest networks of its kind in the world. 

Colliers International has extended the management contract with Triuva Kapitalverwaltungsgesellschaft mbH for another 2 years. Colliers will continue to manage the portfolio of 11 office properties with a total area of approximately 75,000 sqm. All buildings are located in Warsaw.

Berlin-based developer Bischoff & Compagnons is to start a new office development, named Alphagon, in the South Buda area of Budapest. CBRE has been commissioned with the leasing of the property.

The office market in Warsaw maintains momentum with demand for office space reaching 194,000 sqm in Q1 2017. JLL summarized Q1 2017 on the office market in Warsaw.

Futureal Group sold its Skypark office building to the OTP Prime Property Investment Fund. The recently closed transaction increased the value of the fund’s property portfolio to over HUF40 billion. The complex, with 25,000 square meters of GLA, is located at the Corvin Promenade mixed use project in the center of Budapest and was designed to meet the needs of technology and R&D companies.

The first quarter of 2017 saw only one office building delivered to the Prague market. Strong demand from tenants helped the vacancy rate decrease by 1.1 percentage points to 9.4%.The Prague Research Forum announced the office market figures for Q1 2017.

JLL has been selected by Skanska Property Poland as the Property Manager of Nowa Fabryczna office building, part of the Nowe Centrum Łodzi urban redevelopment project. The building will be taken over by JLL management on 30th June 2017.

Skanska helps introduce the WELL Building Standard (WELL) to the market of Central and Eastern Europe. WELL is the preeminent building standard to focus on enhancing people’s health and well-being through the built environment. Spark is one of the first office buildings to pursue WELL Certification in Poland. Skanska will also apply for certification for its projects developed in the Czech Republic, Hungary and Romania.

Wing is transforming the Material Center building in Budapest, which until now has operated as a shopping mall, into an office building. The building, which has an area of over 20,000 square metres, will be fully converted and renovated to a high standard, to be reborn as the Skylight City office centre. The preparatory works have already begun, and offices are already available for rental in the building.