More than 50 percent of the office spaces in the newest A-grade office building - ZWIRN OFFICE on Mlynské Niva in Bratislava - are already "taken up". More precisely – in one of the few buildings in which companies can buy space instead of renting it – there are only less than thirty business spaces from 40 to 330 m2 available.
In autumn 2023, J&T Real Estate bought parcels in Prague on Rohan Island from the Rohan Consortium, which is co-owned by the developer Sekyra Group. It is now starting to sell apartments in the first stage of the Nový Rohan project - the largest development project of the J&T group so far.
The European commercial real estate market is expected to recover this year, but it will probably arrive in Slovakia with a delay. Rent growth will continue in all sectors in Europe. An average increase of 3.4 percent is expected in logistics, 2.1 percent in offices and 1.2 percent in retail space. This follows from the outlook of the commercial real estate market called EMEA Outlook 2024: Trends are coming back, prepared by the real estate consulting company Cushman & Wakefield.
In 2023, the sharp increase in interest rates and the negative economic development of the country in which they operate had the strongest impact on banks and the method of financing commercial real estate.
Employees in Europe are the least engaged on a global scale for a long time. According to the latest Gallup survey, the level of engagement on the old continent is only 13%, while globally this indicator is at the level of 23% and has improved year-on-year. However, the level of stress to which employees are exposed at work has increased. This is felt by up to 44% of employees. The home-office also achieved this with its less predictable and longer work schedule and the blurring of the differences between work and rest. Stress is associated with physical and psychological health problems, and can also lead to lower productivity. CBRE's latest CEE Office Occupier Sentiment Survey found that up to 87% of companies in the CEE region want their employees to work in the office at least three days a week. "At the moment, the physical occupancy rate of offices varies between 26 and 60%, while it depends on many factors, including the sector and type of company, the applicable home office policy, or the management's approach to managing employees," says Peter Gróf, director of CBRE Slovakia's Workplace Strategies department.
The Czech investment group Enern and the American company Lincoln Property Company, which operates on the European market, including Slovakia, have started the construction of a new office project in the capital of Poland. The current owners purchased The FORM project in 2021 from Penta Real Estate. Its financing also includes recently issued bonds worth 30 million euros with an annual coupon of six and a half percent, whose manager and arranger is J&T Banka. These bonds are listed and traded on the Bratislava Stock Exchange.
In the second quarter of 2023, the total area of office space in Bratislava is 2 million m2, with 17% of the total volume being class A+ office space, 38% A and 45% class B office space. This is based on current data from the real estate consulting company CBRE.
Despite the pandemic, financial crisis and problems with construction materials, the Apollo Niva project was completed after less than three years. Developer HB Reavis does not hide his satisfaction or joy at the current occupation.
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