Q1 2017 saw Class A & B take-up reach approximately 97,300 sqm on the Bucharest office market and the average transaction size increased from approximately 1,800 sqm in Q1 2016, to approximately 2,400 sqm in Q1 2017.  There were 9,550 sqm delivered in two projects in the CBD (Central Business District), Knight Frank reports.

Hili Properties, the real estate division of Hili Ventures, has finalised the acquisition of ART Business Centre in Bucharest from FBC Exclusive Company for €30 million.

JLL has launched a report exploring the impact of technology, data and digital disruption on work spaces and real estate investment strategies. The report focuses on the office sector over the next 15 years, looking at how occupiers, developers and investors will need to view real estate differently and adapt in order to enhance investment returns and create work spaces that are fit for purpose in a rapidly changing, highly-connected world.

There is currently 343 000 sqm of office space in development in Prague, 144 000 sqm of which is slated for completion this year. This is the strongest development pipeline since 2014. That being said, the first quarter did not launch the major increase in new office stock expected in the wake of the historically weakest year of 2016. Completion of the majority of new space is planned for the second half of this year.

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.