Demand for office space in Bucharest was flat at 286,100 sqm in 2022 compared to the previous year, while the vacancy rate fell slightly to 12.54%. Demand was driven by the IT sector, which had a share of more than 25% of the office leasing market, according to JLL Romania.
Demand for new offices in Bucharest rose by 13% in 2022 compared to the previous year, with 332,922 sqm of spaces leased in the city during the past year, according to real estate consultancy Fortim Trusted Advisors.
Pavăl Holding, the investment vehicle of the Pavăl family, has purchased first phase of the U•Center office project in the Tineretului area of Bucharest from Romanian developer Forte Partners for an undisclosed sum.
Romanian developer Forte Partners says that all its office projects in Bucharest are powered solely by renewable energy as part of its sustainability strategy.
The office market in Bucharest expanded by 73,500 sqm to a total stock of 3.27 million sqm at the end of the first quarter of 2022, while leasing activity expanded by 44% compared to the first quarter of 2021, according to CBRE.
Another brand from the CCC Group portfolio has joined the tenants of Galeria Sudecka in Jelenia Góra. The new CCC store will occupy 725 sqm of space. Customers can also do their shopping at the new Rossmann drugstore (450 sqm).
The EPP-owned Galaxy shopping centre in Szczecin is strengthening its offer by developing its partnership with HalfPrice. The relaunched showroom now has a wider assortment and larger floor space - about 3,200 sqm.
Homepark Janki is expanding its offer with a new shop selling electric bikes by Engwe. The brand's first Polish showroom has taken up an area of 108 sqm.
New appointments
Karol Czupryński has joined the management board of Empik. He will take the position of Chief Commercial Officer. Czupryński has previously worked at Allegro, Procter & Gamble and Boston Consulting Group, among others.
Marcin Grabara officially takes over the reins at Rossmann SDP sp z.o.o. from 24 May. He will replace Marek Maruszak as president, who is retiring after 24 years with the company.
CPI Property Group, is expanding the Warsaw structures of its Leasing Office department. Maciej Skubiszewski has been named the new Senior Leasing Manager. he will be responsible for the implementation of the leasing strategy as well as the commercialization and re-commercialization of space in office buildings in CPIPG's portfolio - Central Tower, Concept Tower and Chałubińskiego 8 (CH8).
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