Tenant activity in Warsaw remains steady despite limited new office supply

Warsaw’s office market continued to see stable tenant activity in early 2025, even as the availability of new office space declined. According to BNP Paribas Real Estate Poland’s latest report, Review – Warsaw Office Market in Q1 2025, a slowdown in completed projects and a limited development pipeline are constraining supply. Despite these conditions, demand for centrally located offices has remained consistent, with tenants actively seeking space in the capital.

Between January and March 2025, leasing activity reached 160,000 sqm, marking a 17% increase compared to the same period in 2024. In 2024 overall, tenant activity amounted to approximately 740,000 sqm, a slight decrease year-on-year. Major lease transactions in the first quarter included Enter Air’s 9,800 sqm lease in Bokserska Office Center, CD Projekt’s 5,600 sqm lease in its own office building, and Elanco Polska’s 4,400 sqm renewal in The Warsaw Hub B. Additional notable deals included a 4,200 sqm renewal in Central Tower and a 4,100 sqm new lease in Moniuszki 1a.

Most leasing activity (63%) took place in central office zones, totaling around 101,000 sqm. New leases accounted for 48% of total transaction volume, followed by renewals (26%), leases for own use (17%), and expansions (9%). Pre-leases comprised 5% of all transactions in Q1 2025—slightly higher than the previous year—and reached 15% when viewed across the last four quarters.

New supply, however, remains low. Only 5,600 sqm of new office space was delivered in Q1 2025, a sharp decline of 88% compared to the same period last year. In the past 12 months, just 61,600 sqm of new office stock entered the market, marking a 44% annual decrease. As of the end of March, around 267,000 sqm of space was under construction or renovation, with more than 80% located in central zones. Limited land availability in central districts continues to be a key challenge for new developments.

Upcoming projects expected in late 2025 include Ghelamco’s 47,000 sqm The Bridge and Echo Investment’s 31,000 sqm Office House. Strabag’s Upper One (35,000 sqm) is scheduled for completion in Q4 2026.

With new supply constrained, Warsaw’s office vacancy rate has declined to 10.5%, and just 7.4% in central locations—down 2.1 percentage points year-on-year. At the end of Q1, 657,000 sqm of office space remained vacant, with over 13% of this in buildings over a decade old. Służewiec accounted for 20% of all vacant space.

Rental rates remained stable in Q1 2025. Prime offices in the city centre commanded rents of EUR 22–27 per sqm per month, while non-central areas ranged between EUR 16–18. BNP Paribas Real Estate Poland expects rents in top-tier buildings to rise in the near future due to limited supply and increasing demand for quality space.

Vercom and CyberFolks open new office in Krakow’s Quattro Business Park

Vercom, a provider of cloud communication platforms (CPaaS), and its affiliated company CyberFolks have opened a new office in Krakow, marking the company’s continued expansion in Poland. The nearly 500 sqm space is located in Quattro Business Park, a property owned by Globalworth. The move follows Vercom’s previous office openings in Poznań and Rybnik, and is seen as a step towards consolidating the group’s operations in southern Poland, partly driven by previous acquisitions in the region.

The office was designed with functionality and employee comfort in mind, incorporating open ceilings, biophilic design elements, and a layout that includes open spaces, meeting rooms, a reception with kitchenette, and a large kitchen with a relaxation area. The design, developed by Flamaster studio and implemented by WB Projekt, focused on low carbon footprint materials, reusing existing structures, and enhancing acoustics with a combination of panels and soft furnishings.

The fit-out was managed by Globalworth’s internal Workplaces team and completed over a period of three months. According to project manager Oskar Słup-Ostrawski, the design aimed to create a space that encourages regular office use, responding to shifting workplace trends away from hybrid models in some sectors. The Krakow location was selected for its access to a skilled workforce and strong infrastructure, and the space was customised following consultations with employees.

The lease was facilitated through REDD’s digital office leasing platform. According to REDD founder Tom Ogrodzki, the transaction highlights how digital tools are reshaping commercial real estate, allowing tenants and landlords to streamline office search and leasing processes.

European retail markets show strong recovery in Q1 2025, GRAI reaches record high

GRAI 1/2025 confirms the positive trend in the first quarter of 2025. The EU-15 Index, compiled by Union Investment and GfK, reached a new high of 115 points, reporting further growth in seven European countries. However, trade tariffs and weakening GDP growth may have a temporary negative impact on trade.

The European retail markets have moved beyond the trough of 2022. The brighter mood among retailers and consumers, as well as the healthy fundamental data, is reflected in the 115 points reached by the Global Retail Attractiveness Index (GRAI) for Europe in the first quarter of 2025. With a further one-point increase compared to the previous year (first quarter of 2024: 114 points), the recovery that began three years ago is expected to continue in 2025. By spring, the index calculated by Union Investment and Gfk had even reached a new high since the first survey seven years ago (2018).

The slight to strong upturns in seven European retail markets contributed to a more “green” European map throughout the year. In two other markets, figures stabilized at the same levels as the previous year. Growth was robust in the Czech Republic, with a twelve-point increase, and in Sweden, with a seven-point increase. Poland remains the current leader in the EU-15 index with 136 points despite a slight drop. The Czech Republic (129 points) and Portugal (121 points) also remain among the top trio. The German retail market maintained its good level in the first quarter with a stable 112 points, while Austria showed a trend reversal with a substantial increase of five points, reaching 97 points. In addition to Poland and France (both with 110 points), only Denmark (92 points) and Finland (93 points) saw declines, primarily in the low single-digit range. The two Nordic countries thus bring up the rear in the current European ranking.

“The majority of European retail markets are stronger three years after the crisis, with healthy fundamentals, above all rising retail sales, and intact labor market figures. Accordingly, we are also seeing improved sentiment among institutional investors, who are increasingly exploring opportunities to enter the retail sector again,” says Henri Eisenkopf, Director Transactions Shopping Places at Union Investment. “After initially focusing on properties with value appreciation potential, investors in Europe are now increasingly looking for core properties across the entire retail spectrum, including shopping centers. For us as investment and asset managers, the current market phase with its positive trend in the operating performance of retail properties promises attractive yield contributions in the portfolio as well as good opportunities for profitable sales.”

While the European retail markets have emerged from the crisis, development in North American markets is still lagging. Above all, however, the Asia/Pacific region is still lagging well behind Europe. The North America index in the GRAI deteriorated slightly by two points over the year, reaching an average value of 97 points at the end of the first quarter of 2025. The Retail Index in Asia/Pacific rose by one point, but still only reached a below-average level of 93 points.

“Overall, it should be noted for the coming months that trade tariffs and a weakening GDP trend could hurt trade, at least temporarily,” says Henri Eisenkopf.

Buyers favour green, quiet locations as remote work redefines housing priorities

Flats located in quieter, greener areas away from city centres are increasingly popular among buyers, particularly as remote work becomes more common. Many are prioritising access to nature, a peaceful environment, and more spacious living conditions over proximity to central business districts. This shift reflects a broader change in buyer preferences, with location decisions now driven more by quality of life and home functionality than by commute times alone.

Tomasz Kaleta, managing director of sales and marketing at Develia
Customer preferences vary and depend on individual needs and financial capabilities. However, the choice of apartment is most often determined by the price and/or the amount of the mortgage instalments. As the market situation is not favourable for those planning to buy their first flat, in recent months the most popular properties have been more expensive flats in central locations and larger flats purchased for cash or financed with a loan with a lower LTV (loan to value) ratio, i.e. with a higher down payment.

Customers continue to attach great importance to greenery, both within the estate and in its immediate surroundings. Easy access to shopping and services, a functional interior layout and good sunlight are also important. In our projects, we focus on large glazed areas, which constitute at least 20% of the apartment’s floor space, ensuring optimal lighting. Buyers’ preferences are key for us, which is why we take them into account at the stage of selecting investment land, designing apartments and common areas. Our approach is perfectly reflected in the Ceglana Park estate in Katowice, located in the vicinity of Kościuszki Park. More than half of the investment area is covered by green spaces, and residents have access to, among other things, their own pond with a pier and a salt graduation tower.

Agnieszka Gajdzik-Wilgos, Sales Manager at Ronson Development
There is a clear trend towards combining urban locations with access to green spaces. Customers are not giving up the urban lifestyle, but they expect their place of residence to offer peace and quiet and space to relax. There is still interest in flats with gardens and terraces.

Buyers also pay attention to the developed infrastructure or a clear vision of its development in a given project. In response to these needs, we have launched investments such as Zielono Mi and Nova Królikarnia, which offer a compromise between city accessibility and peaceful surroundings.

Damian Tomasik, President of the Management Board, Alter Investment
Yes, we are definitely seeing a clear trend in buyers’ preferences, with more and more customers choosing projects located in quieter parts of cities or on their outskirts. This is the result of long-term lifestyle changes that have been accelerated by the pandemic but are now an established reality. Remote and hybrid work, a greater emphasis on work-life balance, and the need for contact with nature have all given the location of a home a whole new meaning.

Today’s buyers are primarily looking for peace, greenery, more space and functionality. It is no longer just proximity to the city centre that is decisive; the quality of the surroundings, access to recreational areas, privacy and the opportunity to relax away from the hustle and bustle of the city have become equally important. Projects located in low-density neighbourhoods with good transport links, but at the same time offering everyday comfort, are currently very popular.

This trend fits in perfectly with our project strategy developed in recent years and the locations we choose for future investments, such as Pomlewo near Gdańsk, which offers the potential for a peaceful, balanced life, but also flexibility, because we know that today a home is not just a place to sleep, but also a space for work, relaxation and family life. The project in Jeziorany, for which we obtained a building permit in December 2024, is part of the same trend.

Recently, buyers have been paying particular attention to the functional layout of flats, including a separate room for work, a larger balcony or garden, the surroundings of the development, i.e. greenery, lack of noise, proximity to walking areas, good transport links without having to live in the centre, the quality of materials and standard of finish in the common areas, as well as energy efficiency and low operating costs. This is not a temporary trend, but a new direction for the market. Investments that meet these needs will definitely increase in value.

Katarzyna Kwiatkowska, Sales Office Manager, Matexi Polska
We offer a variety of residential projects, both in central urban locations and in quieter, more residential areas of the city. Each project is tailored to the needs of a specific group of customers, depending on their lifestyle and preferences. We have noticed that customers are increasingly paying attention to comfort of living, access to green areas and the quality of common spaces. This trend is linked, among other things, to the growing popularity of remote working and the need to relax in a friendly, well-designed environment.

We also continue to see very high interest in flats with private gardens, which are particularly popular among families and people seeking greater contact with nature. That is why we pay special attention to the development of green areas and common spaces in all our investments. Our projects are designed with high functionality, good workmanship and access to greenery in mind, even in densely built-up urban areas.

For example, in the Splot Wola project in Warsaw, we offer two-level apartments with spacious terraces on the top floor. In the Żelazna 54 investment, residents will be able to enjoy a green courtyard and a recreational roof terrace. Although we do not develop projects on the outskirts of cities, we choose locations that combine convenient transport links with access to parks and green areas. This allows our customers to combine an active, urban lifestyle with daily contact with nature.

Joanna Chojecka, Sales and Marketing Director for Warsaw and Wrocław at the Robyg Group
In 2025, the real estate market in Poland will be shaped by trends such as growing interest in the ecological aspects of real estate, resulting in increased demand for buildings using energy-efficient technologies such as photovoltaic panels, heat pumps and intelligent building management systems.

The continuation of the remote working trend means that buyers are increasingly looking for flats outside the city centre, paying attention to access to green areas and a quieter environment. The integration of modern technologies in homes is becoming the norm. There is growing interest in flats with spaces that can be used to set up a home office and access to common areas such as gyms and playgrounds. These trends point to dynamic changes in buyer preferences and the adaptation of the real estate market to contemporary technological and environmental challenges.

Małgorzata Porzezińska, sales director at Archicom
We are not seeing a clear trend of customers moving away from central locations in favour of quieter neighbourhoods on the outskirts. Buyers’ needs are diverse and depend on their lifestyle, career stage and family situation. That is why we attach so much importance to diversifying our offer, in terms of size, standard and location. Customers looking for more space on a more affordable budget, often families with children, are more likely to choose projects located outside the city centre. Younger people, such as singles or those working in a hybrid model, pay more attention to proximity to universities or workplaces.

Our observations show that customers are not so much looking for peace and quiet away from the city, but rather a comprehensive environment with access to greenery, parks, services and transport within a 15-minute neighbourhood. We carefully select the locations of our projects so that even investments outside the city centre provide quick access to its key points. In the context of remote working, we do not see a permanent exodus of customers to the suburbs, but there has been an increase in interest in flats that allow for flexible space arrangement, e.g. separating a work area or an additional room.

Agnieszka Majkusiak, Sales Director at Atal
I wouldn’t call it a clear trend, especially since the popularisation of remote working is being counteracted by the phenomenon of more and more employees returning to the office. Customer preferences are a very broad topic, resulting from their individual needs, and different features and aspects of real estate have their supporters as well as opponents. This also applies to location.

Investments located away from the city centre are usually cheaper. For this reason, they are an attractive purchase option for families looking for larger flats. These expectations are often accompanied by a desire to live close to green and recreational areas, such as parks, woods or cycle paths, which are a significant advantage for these customers. Customers also pay attention to other parameters of such locations, i.e. transport accessibility and proximity to infrastructure, which can further enhance the value of well-designed developments outside large city centres.

Source: dompress.pl
Photo: ROBYG MODERN CITY

Common reporting standard helps curb tax evasion, but transparency and attribution gaps persist

A new study by the German Institute for Economic Research (DIW Berlin) highlights both progress and shortcomings in the global fight against tax evasion through the Common Reporting Standard (CRS). Introduced in 2017, the CRS enables the automatic exchange of information on foreign-held financial assets between tax authorities. While the system has led to greater detection of undeclared offshore wealth, significant limitations remain, particularly in identifying the true owners of assets held through corporate structures.

The study, led by DIW Berlin’s Sarah Godar in collaboration with the EU Tax Observatory, is the first to evaluate CRS data made available by 16 countries. These countries collectively reported foreign assets worth about $3.5 trillion in 2022—representing roughly 30% of the total foreign assets disclosed under the CRS that year.

Despite over 100 countries and territories participating in the CRS, many financial authorities have shown reluctance in releasing detailed data. This lack of transparency hinders assessments of the effectiveness and coverage of the system. “We see that combating tax evasion through the CRS is working,” said Godar, “but more transparency is needed to fully evaluate and close the existing gaps.”

One area of concern is the limited ability of tax administrations to attribute accounts held by corporate entities to their actual owners. While the CRS allows tax authorities to assign 86 to 92 percent of foreign accounts to domestic taxpayers, the rate is considerably lower for accounts held via companies, particularly in financial hubs like Switzerland and Luxembourg. These jurisdictions see frequent use of passive corporate structures, which are often used to obscure beneficial ownership.

Godar stressed the need for stronger political backing for tax authorities and enhanced data transparency to improve CRS implementation. She argued that countries with persistently low attribution rates should face increased political pressure to enhance compliance.

Another challenge lies in the lack of standardised, public data. Although the OECD reports nearly $13 trillion in foreign assets under the CRS for 2022, the EU Tax Observatory estimates global offshore household wealth at $11 trillion for the same period. However, differences in methodology and definitions make direct comparisons difficult. The CRS figures exclude data from the United States, which does not participate in the initiative.

Godar concluded that public access to harmonised statistics is essential for a meaningful discussion on equitable taxation of capital income. “We need public statistics on foreign assets covered by automatic information exchange, processed according to uniform standards,” she said, “to have an informed debate on the fair taxation of capital income.”

DIW Economic Barometer rises in May, indicating initial recovery in German economy

The German economy is showing early signs of recovery, according to the latest Economic Barometer from the German Institute for Economic Research (DIW Berlin). The index rose to 90.1 points in May, gaining more than seven points compared to April and returning to levels seen in February and March. While it remains below the neutral 100-point mark that signals average economic growth, the upward movement suggests a moderate improvement in conditions.

“The German economy is picking up somewhat despite increased trade barriers earlier in the year,” said DIW Chief Economist Geraldine Dany-Knedlik. However, she cautioned that the momentum from the first quarter, when GDP grew by 0.4%, is unlikely to be sustained. Part of that early growth was attributed to a shift in exports to March, driven by concerns over tariff hikes. Foreign trade is expected to slow in the months ahead, though improved private consumption is emerging as a positive factor.

Political stability, with Germany now having a functioning federal government, is also contributing to a more supportive economic environment. Still, DIW notes that the impact of newly announced measures to boost public and private investment will likely be felt only in 2026. High levels of uncertainty persist among businesses and households following years of weak growth and ongoing geopolitical and trade tensions.

In the industrial sector, which has struggled in recent years, sentiment is gradually improving. The ifo Business Climate Index increased in May, with expectations becoming more optimistic and order intake showing signs of recovery. Industrial production rose sharply in March, though this was partly driven by advance exports related to trade policy concerns. Despite this, German industry remains vulnerable to global risks, including elevated U.S. tariffs and a sluggish international economy.

“Industry in Germany is currently caught between global trade conflicts and hopes for supportive fiscal policies,” said DIW economist Laura Pagenhardt. She emphasised that greater policy clarity, particularly on public investment, could drive growth in the second half of the year.

In the services sector, the picture remains mixed. While business expectations have improved, service providers—particularly those linked to manufacturing—continue to face challenges. Retail, however, has shown signs of strength, with higher spending and a notable drop in the savings rate in the first quarter. Nonetheless, uncertainties about the labour market are affecting consumer confidence. According to GfK’s consumer climate index, sentiment remains cautious, though a slight recovery may have occurred in May.

“The German economy is showing initial signs of recovery, supported by the outlook for fiscal policy-driven growth,” said DIW expert Guido Baldi. “But the external environment remains a major source of risk. Further escalations in trade tensions or geopolitical conflicts could threaten this fragile recovery.”

Polish warehouse market shows stability amid reduced activity in Q1 2025

The Polish warehouse and industrial space market remained stable in the first quarter of 2025, despite a slowdown in new activity. According to reports by AXI IMMO and CBRE, total demand exceeded 1.1 million square metres, marking a year-on-year increase of approximately 20%. However, the structure of this demand reflected cautious market behaviour, with contract renewals accounting for 56% of all transactions. Net demand, which includes new leases and expansions, declined by 19%.

Jakub Kizielewicz, CEO of Opteamic Group, a logistics and production outsourcing provider, noted that lower tenant turnover and the preference for established locations benefit operational predictability. He added that such conditions support long-term workforce planning and allow outsourcing providers to focus on process efficiency and flexibility in a more consistent working environment.

Warehouse stock in Poland now exceeds 35.3 million square metres, placing the country fifth in Europe. However, new supply dropped by 20% compared to the previous year, and the volume of space under construction fell by 41%. Developers are prioritising quality and tailored solutions over volume, aligning with broader efforts to create more resilient and sustainable supply chains.

For outsourcing companies, these trends support a focus on quality service delivery and specialisation, particularly in sectors such as e-commerce, retail, and third-party logistics (3PL), where the demand for adaptable employment models remains steady.

Location continues to play a critical role in tenant decisions. The regions of Mazovia, Silesia, and Łódź remain the most active, benefiting from strong infrastructure, access to labour, and educational institutions. These areas recorded leasing activity of 267,000, 228,000, and 152,000 square metres respectively, according to AXI IMMO.

Conversely, some regions face rising vacancy rates. In the Lubuskie Province, the vacancy rate stands at 22.9%, and in the Świętokrzyskie Province, it is 17.2%. Labour shortages in these areas may be a contributing factor.

Process outsourcing is increasingly being used not only for basic tasks but for managing entire logistics operations, team leasing, and designing warehouse workflows. Companies are placing greater importance on the integration of seasonal demand, technological requirements, and customer expectations.

Looking ahead, 2025 is expected to be defined by cautious and strategic decision-making across the warehouse market. For companies like Opteamic Group, this environment presents opportunities to demonstrate the value of outsourcing as a means of ensuring operational continuity and strengthening business resilience.

Deka Immobilien sells two logistics properties in France

Deka Immobilien has sold two logistics halls located in the Paris metropolitan area from one of its special funds. The buyer is an institutional investor. The sale price was not disclosed by the parties involved.

The first property, situated in Saint Witz, was built in 2002 and offers more than 28,000 square metres of leasable space along with 131 parking spaces. The facility is fully leased to Global Services Automotive, a supply chain specialist. Located approximately 35 kilometres north-east of Paris and near Charles de Gaulle Airport, the property has been part of the fund’s portfolio for ten years.

The second asset, located in Brie Comte Robert about 30 kilometres south of Paris, includes Halls A and B, which together provide over 40,000 square metres of space and 224 parking spaces. Hall A is fully occupied by La Poste, while Hall B is leased to Portmann Logistics. Constructed in 2003 and 2004, the property has been held in the fund for nearly 15 years.

Both assets are certified under the BREEAM standard for sustainable construction.

The transaction reflects Deka Immobilien’s strategy of capitalising on favourable market conditions to optimise the fund’s portfolio. The decision to sell follows the natural lifecycle of the properties, as they approach the end of their initial holding period and lease terms.

CPI Europe reports €47.5 million net profit in Q1 2025; S IMMO earnings also up

CPI Europe AG reported a net profit of €47.5 million for the first quarter of 2025, as the company began the new financial year with a stable operational performance. Rental income totalled €139.0 million during the period, reflecting a decline compared to the previous year, mainly due to property disposals carried out in 2024. Asset management results fell slightly by 2.9% year-on-year to €116.5 million, while operating results saw a modest increase of 1.4% to €105.7 million. Funds from operations (FFO 1) after tax amounted to €57.1 million, compared with €69.7 million in Q1 2024.

Revaluations, including property development and sales, resulted in a negative impact of €14.3 million, a deterioration from the –€9.9 million recorded in the same quarter of 2024. Financial results also declined to –€28.9 million, influenced largely by lower non-cash positive valuation effects from interest rate derivatives.

As of 31 March 2025, CPI Europe managed a portfolio of 389 properties valued at €7.82 billion, down from 417 properties worth €7.98 billion at the end of 2024. Standing investments made up 97.5% of the portfolio’s carrying value and represented 3.3 million square metres of rentable space. The occupancy rate improved to 93.7%, up from 93.2%, and the WAULT (weighted average unexpired lease term by rental income) stood at 3.6 years. Property sales in the first quarter reached a volume of €185.3 million.

The company maintained a robust balance sheet, with an equity ratio of 44.2% and a net loan-to-value (LTV) ratio of 45.2%. Cash and cash equivalents amounted to €619.9 million, while 94.1% of financial liabilities were hedged against interest rate fluctuations. Book value per share under IFRS increased by 1.5% to €29.02, and the EPRA Net Tangible Assets (NTA) per share rose by 1.2% to €31.11.

The interim financial report as of 31 March 2025 is available on CPI Europe’s website from 28 May 2025.

Meanwhile, S IMMO AG, also part of the CPI Property Group, released its first quarter results, showing improved financial performance. Revenue increased to €89.2 million, up from €84.6 million in Q1 2024. Rental income rose by 9% to €55.4 million, and gross profit climbed to €59.4 million from €48.9 million a year earlier. EBITDA reached €49.8 million, marking a 22% increase year-on-year.

Net profit for the period rose to €38.9 million, compared with €21.1 million in the first quarter of 2024. Earnings per share came in at €0.66, up from €0.09. The performance was supported by solid operating results.

After the reporting period, S IMMO signed a deal on 22 May 2025 for the sale of the Hotel Marriott Vienna. The transaction exceeds €100 million and will be completed in multiple phases. The real estate transfer is expected to close in the second quarter of 2025, with the hotel operations sale scheduled for completion in January 2026.

Wolf Theiss relocates to renovated Liget Center Classic in Budapest

The international law firm Wolf Theiss has relocated its Budapest office to the Liget Center Classic, occupying nearly 1,300 square metres in the recently renovated historic building. The move will provide office space for 85 employees and brings the occupancy rate of the building to full capacity.

The Liget Center Classic, originally built as the headquarters of the National Association of Hungarian Construction Workers (MÉMOSZ), is considered a landmark of modernist architecture in Budapest. The building, located in District VI at the junction of Dózsa György Road and Városligeti fasor near the City Park, underwent a full renovation in 2024. The redevelopment, led by WING, focused on preserving the historic character of the site while upgrading it to meet modern energy efficiency and office space standards.

Wolf Theiss Managing Partner Zoltán Faludi described the decision to move as one based on the building’s distinctive architecture and central location, noting that it reflects both the firm’s values and its commitment to offering a professional environment for its clients and staff.

Gábor Angel, Deputy CEO for Office and Residential Development at WING, said the lease marks an important milestone, as the building is now fully let. He also highlighted the broader context of the Liget Center as a mixed-use urban development with cultural and green surroundings, in addition to meeting technical and sustainability expectations.

The lease transaction was facilitated by Cushman & Wakefield, which also provides project management services for the tenant. Tamara Szántó, Partner and Head of Office Agency at Cushman & Wakefield Budapest, noted that the location aligns with the long-term plans and growth of the Wolf Theiss firm.

The Liget Center development includes additional office space beyond the Classic building. A new near-zero energy office building, Vitrum, has been completed as part of the complex. With six floors and 2,200 square metres of space, Vitrum features sustainable design and smart building systems tailored to tenants seeking central, energy-efficient workspaces.

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