Codic Hungary, a subsidiary of the Belgian developer Codic International, has launched its new office project called Modiano in downtown Budapest. It will offer 13,500 sqm of office space with 450 sqm of retail and the handover is scheduled for Q4 2025.

Within 10 or 12 years, Penta wants to complete its brand new Southbank mixed-use project in Bratislava. The commencement of the construction of Southbank now depends on the permitting process and ongoing changes to the master plan, which are being overseen by the Bratislava City Council. Once the zoning changes are approved, construction could start within 1.5 to 2 years, estimates Michal Rehak, Business Director of Penta Real Estate Bratislava. According to him, the company does not want to disclose the cost of the project or the detailed schedule until the new Bratislava master plan is approved.

The owner of the former Radetzky-barracks, Market Group has topped out the development of this mixed-use property. The 19th-century building will be transformed into a high-class hotel and office complex, portfolio.hu reports.

The Polish Chamber of Commercial Real Estate (PINK) has published figures on the office market in Warsaw for Q1 2023. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman & Wakefield, JLL, Knight Frank, Newmark Polska, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.

Ghelamco has announced changes in the management board of its Polish companies. As of 14 April 2023, Paul Gheysens, owner and founder of Ghelamco, took over as President of the Management Board, and Jarosław Zagórski became the new Managing Director, replacing Jeroen van der Toolen in this position. The board was also expanded with the addition of new members: Michael Gheysens, Marie-Julie Gheysens, Chris Heggerick and Rafał Gierczak.

The Port7 office project by Skanska has received the occupancy permit. Port7 offers 35,800 sqm of premium office and retail space in three buildings, 50 percent of which are leased now. Skanska is now shifting its focus to finishing the nearly 2-hectare public park and the new riverside, which is expected to become the new centre of Prague Holešovice. For better access to the entire area, the developer has built an extension of the railway underpass which directly connects the project with the subway, train, and tram station of Nádraží Holešovice.

Last year Globalworth confirmed its strong position in Central and Eastern Europe by signing leases for a combined 87,500 sqm in Poland. This result comprises new contracts for office and retail-gastronomy space, extensions of existing contracts and enlargements of areas leased by tenants.

In the CEE region, Prague placed second in terms of the price of fitting out an office. With €1,159 being the average cost per square metre in Prague, it is just over half of what is standard in top cities in Germany or the UK, where costs often exceed €2,000. Compared with the last year, the prices have grown all over Europe due to inflation and other factors. The 10% increase in Prague means that office occupiers need to carefully consider their office usage and space needs when redesigning their offices. Sustainability and DE&I are also increasingly affecting fit-out requirements, reports Cushman & Wakefield in their latest analysis.

At the beginning of the pandemic, it seemed that many coworking centres or serviced offices could not survive the measures implemented under the Covid-19 pandemic. Shared workspaces, whose philosophy is based on meeting, personal communication, and collaboration, were hit hard by governmental restrictions. But a December analysis by JLL shows promising results; with the retreat of anti-pandemic measures, most coworking and serviced office operators have already felt a new wave of interest, and 2022 has confirmed this trend.

Bulgarian Real Estate Fund (BREF) officially opened the Synergy Tower business building in Sofia, economy.bg reports. The investment is around €40 million. The first tenants of the building are Robert Bosch Bulgaria, Software AG, and INSAIT (Institute for Computer Science, Artificial Intelligence and Technology).