Essen Office Market Faces Slowdown as Leasing Volumes Fall Below Average

Essen’s office property market continued to show subdued activity through the third quarter of 2025, with leasing momentum easing after a stronger start to the year. Total take-up by the end of September reached roughly 45,000 square metres, marking a decline compared to the same period last year and falling well below the city’s long-term average, according to market research from BNP Paribas Real Estate and corroborated by analysts at JLL and Colliers.

The slowdown is largely due to a lack of medium-sized transactions, traditionally a key driver of the market. While smaller leases under 500 square metres and a few large-scale lettings have helped sustain activity, the absence of deals in the 2,000–5,000 square metre range has weighed heavily on overall results. The City of Essen itself accounted for several of the largest agreements this year, including a notable 13,000-square-metre lease in the Weststadt district — the most active submarket to date.

Average rents have continued to edge upward despite weaker leasing volumes, reflecting the limited availability of modern, high-quality space. Prime rents currently stand just below €19 per square metre, with the Southern Quarter achieving the highest rates. Average rents across the city are reported to have climbed toward €15 per square metre, supported by rising fit-out standards and a shortage of new completions.

Public institutions remain a dominant source of demand, representing about half of total leasing activity so far this year — significantly above long-term averages. The private services sector follows, though with fewer large commitments than in previous years.

Vacancy across the Essen office market has risen modestly, now estimated at around 8%, though availability of modern, ESG-compliant offices remains limited. Only a small share of the existing vacant stock meets current standards, while ongoing projects under construction are already largely pre-let. New development activity has declined sharply, with construction pipelines down by more than a third year-on-year.

Market observers expect a mild improvement in the final quarter, encouraged by stabilising sentiment in the wider German economy. However, the full-year leasing total is unlikely to reach last year’s levels unless several large transactions are concluded before December.

Despite short-term headwinds, analysts suggest Essen’s fundamentals remain intact. The city’s transformation from a traditional industrial hub to a diversified service and administrative centre continues, supported by steady public-sector demand and gradual modernisation of its office stock.

Corruption and Financial Crime Still Among the Main Challenges for Czech Law Enforcement

Corruption remains one of the most persistent forms of organized crime in the Czech Republic, with investigations continuing to focus on the misuse of public funds, manipulation of contracts, and financial misconduct within state institutions and the private sector. According to the latest findings from the National Headquarters Against Organized Crime (NCOZ), economic and corruption-related offences once again represented the majority of serious cases handled last year.

The NCOZ’s newly released annual report shows a continued rise in complex investigations, particularly those involving tax and customs fraud, international financial networks, and investment scams. In 2024, the unit opened dozens of new cases and referred more than fifty for prosecution. Over one hundred of its ongoing investigations were classified as economic or corruption-related, reflecting a steady trend from previous years.

Officials noted that corruption remains especially entrenched in sectors linked to large public budgets—such as construction, healthcare, and information technology—where public tenders and procurement processes are often vulnerable to manipulation. In some regional administrations, NCOZ investigators say they repeatedly uncover similar offences every few years, suggesting that preventive measures have not been fully effective.

The report also highlights the growing sophistication of criminal activity. Organized networks now frequently combine corruption with financial or cyber elements, using complex ownership structures, shell companies, and digital channels to obscure money flows. Investigators say that international cooperation has become increasingly necessary, as many schemes cross borders through intermediaries and offshore accounts.

Although the Czech Republic does not stand out in Europe for the overall level of corruption, the persistence of such offences underscores structural weaknesses in oversight and public accountability. Data from Transparency International’s most recent corruption perception index place the country mid-table within the European Union, with only modest progress in recent years.

Meanwhile, NCOZ investigators secured billions of crowns in seized assets last year, a record figure for the unit. Yet experts caution that the volume of recovered funds still covers less than half of the total losses caused by economic crime. Officials admit that while enforcement capacity has improved, systemic prevention and transparency reforms remain essential to reduce opportunities for graft.

Real estate transactions and property ownership were not listed as a separate crime category in the 2024 report, though officials note that property assets frequently appear in corruption and money-laundering cases. In particular, real estate is often used to conceal or reinvest illicit profits rather than as the direct focus of fraud itself.

Overall, the NCOZ’s work reflects a growing emphasis on tracing financial flows and uncovering the networks that link corrupt public contracts to private enrichment. As one senior officer summarized, the forms of crime may evolve, but the underlying motives — profit, influence, and access to public resources — remain much the same.

CEVA Logistics Expands Digital Capabilities with Manhattan Cloud Systems

CEVA Logistics has started a phased global rollout of Manhattan Associates’ warehouse and order management software as part of its plan to modernize contract logistics operations. The initiative will introduce Manhattan Active® Warehouse Management (WMS) and Order Management (OMS) systems into CEVA’s technology ecosystem, which currently supports around 800 sites and 11 million square metres of warehouse space worldwide, including in Poland.

The project marks the next stage in CEVA’s broader innovation programme, focused on automation, artificial intelligence, and data-driven process efficiency. The Manhattan tools will be integrated with CEVA Matrix®, the company’s in-house warehouse management platform, creating a unified structure that allows logistics operations to be scaled or adapted more quickly for individual customers.

According to Chris Walton, Senior Vice President for Global Contract Logistics at CEVA, the company’s strategy is to enhance flexibility and operational responsiveness through technology. He said the use of connected systems such as wearables, robotics, and AI-based analytics is expected to increase productivity and improve customer visibility into warehouse performance.

The new software, built on a cloud-native SaaS platform, offers continuous uptime and is designed to handle large transaction volumes across multiple regions. It will support faster onboarding of new clients and the setup of additional facilities while maintaining service continuity. Customers will also gain access to detailed performance dashboards through CEVA’s MyCEVA portal.

The initial implementation will take place at selected sites in North America and Europe, followed by a gradual expansion to other global markets. Once complete, the Manhattan platform will operate in more than half of CEVA’s contract logistics facilities, with the rest continuing to use CEVA Matrix®.

Eric Clark, Chief Executive Officer of Manhattan Associates, said both companies share a focus on using technology to improve customer outcomes. He noted that the collaboration is intended to provide CEVA with a resilient foundation for responding to market shifts and managing supply chain disruptions more effectively.

The deployment of Manhattan’s cloud solutions forms part of CEVA’s longer-term digital transformation programme, which aims to streamline global logistics operations and prepare the company for the next phase of growth in contract logistics.

New Chapter for Bratislava Skyline: Ister Tower Project Moves Forward

Bratislava’s evolving downtown district is preparing for another major addition to its skyline as the Ister Tower development receives final approval for construction. The project, positioned on Landererova Street near the city’s modern riverfront, has cleared its last administrative hurdle after years of preparation and review. The newly granted building permit allows work to start once the decision becomes legally effective, provided construction begins within two years of that date.

Developed by The Galata Group with financial backing from DRFG Investment Group, the complex is expected to break ground soon. Both parties have indicated that planning for the initial construction phase is already under way, signaling that visible progress could come in the near term.

The design calls for a tall central tower supported by two smaller residential buildings, forming a unified ensemble intended to reflect contemporary urban living. The main tower is expected to rise around one hundred meters, positioning it among the tallest residential structures in Slovakia. Across the development, approximately five hundred apartments will be built, ranging from compact one-bedroom units to larger duplexes and penthouses. Many of these will feature private terraces, rooftop gardens, and landscaped green courtyards designed to soften the project’s vertical profile and bring natural elements into the urban setting.

Residents will have access to shared facilities such as wellness and fitness areas, private lounges, and underground parking, while the ground level will host retail and leisure spaces to create an active streetscape. The project aims to combine comfort and exclusivity with easy access to the city center, aligning with the broader transformation of Bratislava’s new downtown into a high-density, mixed-use neighborhood.

The idea for Ister Tower first surfaced several years ago, completing environmental assessments in 2019 and receiving zoning consent in 2022. With the construction permit now in place, the development is positioned to become a new benchmark for residential high-rises in the city. If construction begins as anticipated, the project could soon join Eurovea Tower and Klingerka as part of the defining skyline of a capital that is increasingly looking upward.

Historic Szombierki Power Plant in Bytom to Undergo €115 Million Revitalisation with EU Support

The long-abandoned Szombierki Heat and Power Plant in Bytom, one of Upper Silesia’s most iconic industrial monuments, is set to be transformed into a major cultural, leisure, and business complex. The project, led by Arche S.A., has been awarded EU funding under the Just Transition Fund and will breathe new life into the century-old site while preserving its historic character.

According to official data from the Silesian Voivodeship and Bytom City Hall, the total investment value is estimated at PLN 505 million, of which approximately PLN 84 million (€19 million) will be financed through EU grants. The funds come from the programme Fundusze Europejskie dla Śląskiego 2021–2027, designed to support post-industrial regions transitioning away from coal-based economies.

The project will convert the former power plant — which ceased operation in 2011 — into a multi-functional destination for sport, recreation, hospitality, and cultural events. Plans include a pool complex, squash and badminton courts, an outdoor gym, and accessible facilities for people with disabilities. The wider complex will feature a 200-room hotel, gastronomic and retail zones, a conference and exhibition centre, and flexible spaces for concerts, fairs, and business meetings.

Local authorities say the redevelopment will create at least 150 new jobs within the complex and additional employment in supporting services such as hospitality, logistics, and crafts. “The revitalisation of Szombierki will not only preserve one of Upper Silesia’s architectural landmarks but also open new opportunities for sustainable tourism, entrepreneurship, and cultural exchange,” said Bytom Mayor Mariusz Wołosz when announcing the EU grant.

Developer Arche S.A., known for repurposing historic sites across Poland, confirmed that the project will combine heritage conservation with modern, energy-efficient design principles. The company’s EU funding disclosure states that the redevelopment will include environmental and digital innovation measures, such as improved energy efficiency, re-use of materials, and the application of smart management technologies. The architectural concept was prepared by Bulak Studio.

A dedicated sub-project titled “Creation of Public Sports and Recreation Infrastructure as Part of the Revitalisation of the Szombierki Power Plant Complex in Bytom” received a separate EU grant of PLN 46.4 million, according to Arche’s official EU project register.

While the EU funding decision confirms the project’s selection for support, Arche S.A. notes that the formal financing agreement is still being finalised before disbursement begins. Construction works are expected to start following the signing, with phased implementation over the next several years.

The revitalisation is expected to position the Szombierki complex as a new landmark for Upper Silesia, combining industrial heritage, sustainable redevelopment, and community-focused facilities.

Last Apartments and Penthouses Now Available at Radimova Residence in Prague 6

The final phase of sales is underway at Radimova Residence, a residential development by Geosan Development located in Prague 6–Břevnov. The project, known for its architectural quality and panoramic views across the city including Prague Castle, now offers only a few remaining properties — two penthouses and one large apartment.

“We designed the penthouses at Rezidence Radimova for clients seeking generous living spaces with lasting design and quality craftsmanship,” said Eliška Koderová, Head of Sales at Geosan Development. “They have drawn interest particularly from families looking for functional and refined urban homes.”

The two remaining penthouses, Elegant and Majesty, each feature distinct layouts. Penthouse Elegant includes five rooms, three bedrooms, a study, three bathrooms, and a loggia connected to a terrace accessible from all main rooms. Penthouse Majesty is designed around a large outdoor terrace suitable for a pergola, jacuzzi, and garden area, offering extensive views over Prague’s historic centre. Both units include underfloor heating, air conditioning, heat recovery systems, outdoor blinds, and connections to winter gardens or terraces. Each comes with two parking spaces and a storage unit.

One additional luxury apartment, finished and ready for immediate move-in, is also part of the offer. It features multi-layer oak flooring, large-format Taj Mahal stone in the bathrooms, and Laufen sanitary fittings. The apartment was showcased at this year’s LeadingRE Global Symposium in Prague as an example of high-quality urban living.

Geosan Development provides buyers with optional financing and interior design services through selected partners. “This allows clients to adapt their homes to their preferences from the very beginning,” Koderová noted.

Located in Prague 6 – Břevnov, the Radimova Residence benefits from a quiet residential setting combined with full urban amenities. Nearby parks such as Kajetánka and Ladronka, as well as schools, shops, and sports facilities, contribute to the area’s appeal. The city centre and Ruzyně Airport are both easily accessible.

“Radimova Residence stands out for its location and scale,” added Koderová. “Apartments of this size with panoramic city views are rare in Prague, making this a limited opportunity within the premium segment.”

Daniel Libeskind to Shape Prague’s Future Skyline on Rohan Island

The transformation of Rohan Island in Prague is gaining momentum, with an ambitious new phase designed by world-renowned architect Daniel Libeskind. The project, developed by Sekyra Group, aims to turn a long-abandoned riverside site into a vibrant new district combining housing, leisure, and green public space.

The development, known as Rohan City, will stretch along the Vltava River between Karlín and Libeň, replacing what was once an industrial area with modern buildings and landscaped parks. At its heart will stand four distinctive residential towers created by Libeskind’s studio in New York. Their dynamic form will define the skyline and serve as the focal point of a new central square dedicated to Simone Weil, continuing the district’s theme of naming streets and parks after great thinkers.

The wider plan envisions a mixed community with homes, offices, shops, cafés, and cultural facilities surrounded by open green areas. The riverfront promenade will connect to existing parks and cycle routes, creating a continuous path along the Vltava. Nearly half of the entire site is planned as open space, making greenery a central part of the district’s design.

Local and international architecture firms are contributing to different phases of the project, each responsible for residential or mixed-use blocks that will form part of the evolving neighbourhood. Among them are Jakub Cigler Architekti, edit! architects, and Podlipný Sladký Architekti, who are designing a new section with several hundred apartments overlooking the river.

Construction on the site has been advancing gradually since the first buildings were approved, with completion of the full district expected by 2035. Once finished, Rohan City will provide homes for more than 10,000 people, transforming a neglected part of the capital into a modern, sustainable extension of the inner city.

Sekyra Group describes the development as a model for contemporary Prague — a place that connects architecture with the natural landscape while offering new spaces for culture and community life. Libeskind’s design will give the area a distinctive identity, marking one of the most significant additions to the city’s skyline in years.

Photo: Rohan City – Sekyra Group

Germany’s Poverty Risk Remains High for Refugees and the Unemployed Despite Years of Economic Growth

Germany’s long-running prosperity narrative continues to conceal deep divisions. According to updated research from the German Institute for Economic Research (DIW Berlin) based on the Socio-Economic Panel (SOEP), the overall risk of poverty has barely changed since 2020, holding steady at around 17 percent of the population. Yet among refugees and the unemployed, the rates remain three to four times higher — a structural imbalance that economic growth alone has failed to resolve.

“It is clear that work protects against poverty,” said DIW economist Markus M. Grabka, who leads the annual evaluation of wage and income data. “But integration into the labour market and a fair transfer system are essential. As it stands, increases in working hours have little effect on the wallets of those in the lower income bracket.”

The DIW findings show that while hourly wage inequality has narrowed in recent years—thanks in part to the minimum wage and improved pay in eastern Germany—the real purchasing power of households has eroded under the weight of high inflation in 2021–2022. Statistisches Bundesamt confirmed that real incomes fell for the first time in nearly a decade, a setback that hit low-income groups hardest.

The share of people facing financial insecurity has stagnated since the pandemic period. Among those without a migration background, the poverty risk remains below 13 percent, but for people with a migration background, it hovers around a quarter of the population. For refugees, the picture is starker. The IAB-BAMF-SOEP Refugee Survey, which tracks their economic situation, estimates that as many as 60 percent of refugee households live below the poverty threshold — an improvement from earlier years, yet still alarmingly high.

“The good news is that since 2020, the poverty risk among refugees has fallen slightly, which is likely due to increasing labour market integration,” Grabka told DIW Berlin’s Distribution Report.

Experts note that the income gap in Germany is not widening further but remains “stuck” at a high level. Studies from DIW Berlin and Destatis suggest that stagnant wage mobility, part-time work, and limited access to full employment continue to trap many households at the lower end of the income scale.

The data reveal what analysts describe as a “two-speed” Germany: a stable middle-income majority and a growing minority struggling with rising costs, insecure jobs, and limited prospects for advancement. DIW Berlin concludes that stronger policies to promote full-time employment and reform the benefits system could help translate economic growth into real income gains for all.

“Germany’s economy is still growing, but not everyone feels the benefit,” Grabka warned. “Reducing inequality and poverty will require more than a good labour market—it demands structural change.”

Source: DIW Berlin

Poland’s Job Market Shows First Signs of Cooling, Young People and Women Feel It Most

The Polish labour market is beginning to show early signs of a slowdown. Although many workers say they found their current jobs relatively quickly, a growing number believe that job-hunting today takes longer than in recent years — especially among the youngest adults and women.

According to the latest edition of the Barometr Polskiego Rynku Pracy published by Personnel Service, employee sentiment has weakened since mid-2025. More than two in five respondents believe that finding a new job is now more difficult than two or three years ago. This perception is particularly widespread among people aged 18 to 24, who are entering a softer job market after years of strong hiring.

Official data support the impression of a labour market losing some momentum. The Central Statistical Office (GUS) reported that the number of job vacancies fell to 95,700 in the second quarter of 2025 — down by more than 15,000 compared to the same period last year. The vacancy rate now stands at 0.78 %, its lowest level in several quarters.

While Poland’s overall unemployment rate remains low by European standards — at 5.4 % in July 2025, according to GUS — economists warn that the youth jobless rate is still in double digits. Under the EU’s harmonised Labour Force Survey (BAEL) methodology, unemployment among people aged 15-24 hovers around 11 %, signalling difficulties for new entrants.

“The first groups to feel a slowdown are always the youngest, whose lack of experience makes them more vulnerable when companies scale back recruitment,” said Krzysztof Inglot, labour-market expert and founder of Personnel Service. “It’s a warning signal that the market is becoming more selective.”

The company’s earlier survey results also suggest that women perceive greater difficulty in finding work than men. Analysts link this to structural shifts in services and administrative sectors, where automation and cost-cutting are reducing hiring activity.

Despite these challenges, most respondents said they found their current jobs within three months, and overall employment in Poland remains high. Yet growing concern about slower hiring suggests a turning point after several years of near-record job creation.

Economists expect the cooling trend to continue into 2026, in line with weaker GDP growth and tighter budgets in many industries. However, they note that Poland’s strong manufacturing base and foreign investment pipeline could help cushion the slowdown, especially if inflation and interest rates continue to ease.

Source: Personnel Service

Greenbox JV Secures Planning Approval for New Logistics Scheme in North Yorkshire

Greenbox JV has received full reserved matters planning consent from North Yorkshire Council (NYC) for GB181, a 181,742 sq ft logistics and industrial building at Greenbox Thirsk. The approval marks another step in the company’s ongoing national expansion and follows its recent progress at Greenbox Darlington.

The 52-acre Greenbox Thirsk site now holds consent for multiple phases: GB365 (365,000 sq ft) and GB181 (181,742 sq ft) are fully approved, while a Section 106 Agreement for GB272 (272,504 sq ft) is nearing completion. Together, these projects will deliver a combined 820,000 sq ft of industrial and logistics space. The site retains flexibility under its outline consent, enabling the delivery of units ranging from 12,000 sq ft for SMEs to a single large-scale building of up to 820,000 sq ft—making it one of the few locations in Yorkshire capable of accommodating such a development.

All Greenbox projects are designed to meet BREEAM Excellent, EPC A, and Net Zero standards for construction and operation. At Thirsk, supporting infrastructure is already in place, including a new access route via Eldmire Lane and landscape planting to integrate the site into the surrounding environment.

Located close to the A1(M) and A19, Greenbox Thirsk offers strategic access to northern and midlands markets, with Leeds, Manchester, York, and Hull all within 100 miles. The local economy includes a strong manufacturing and logistics base, with employers such as Severfield PLC, Inspired Pet Nutrition, Cleveland Steel & Tubes, and Cargill already established in the area.

“Securing planning at Greenbox Thirsk represents another important step in our strategy to deliver modern, Net Zero logistics hubs,” said Alex Reynolds, Development Director at Citivale. “The scheme strengthens Yorkshire’s logistics network and provides occupiers with the opportunity to access high-quality, sustainable space in a well-connected location.”

The new facility can be delivered within 12 months and is expected to attract manufacturers and distribution companies seeking large, efficient, and environmentally responsible premises in North Yorkshire.

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