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ExCEEding Borders

202208ReportExCEEdingBordershero

CEE-15 Office Markets in Turbulent Times

Colliers are delighted to present the latest report in the ExCEEding Borders series. In this edition, we review the situation in 15 key office markets in the CEE region: Albania, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Montenegro, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine. In the report, we provide comparables for major office market indicators, such as office stock, pipeline, take-up, vacancy rates; we will also provide some medium-term forecasts provided by the local Colliers’ teams. You will also find concise but encompassing accounts of how things are going in each market, as well as providing insights on some of the topics currently impacting the sector. Besides these more customary analyses which are featured in such reports, we also wanted to take a special look at how the age of the buildings and their ESG credentials can influence their relative performance. Consequently, we split indicators such as demand and vacancy based on the age of the buildings, which led us to some interesting conclusions. We hope you find this an interesting read and look forward to discussing the themes covered with you.


Related Experts

Tewfik Sabongui

Managing Partner | Czech

Prague

In Real Estate and in the Czech Republic, Tewfik started his career in 1999, out of which he spent 16 years with Jones Lang LaSalle (JLL). During these 16 years with JLL, Tewfik was a key CEE leader and instrumental to the growth of JLL’s business in the Czech Republic. Tewfik was heading various departments and business lines between 2003 and 2010, such as Office Agency, Industrial, Retail and Residential.

From 2007 till January 2017 Tewfik was the Managing Director of JLL in Czech and in 2011 he became one of three key CEE Board Members overseeing seven countries in the CEE/SEE region and aiming at setting up strategies and connecting the region’s platform and clients.  In September 2017 Tewfik set up his own Consultancy firm "THREESIXTY" with his partners, which eleven month later it merged with Colliers International and Tewfik became a Managing Partner at Colliers International Czech Republic. 

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Kevin Turpin

Regional Director of Capital Markets | CEE

Prague

Kevin has over 23 years of experience in the property industry, with 17 of those active in the commercial real estate sector in CEE. As the Regional Director of Capital Markets for CEE, Kevin is responsible for delivering investment opportunities and a regional service platform to Colliers’ clients. The 35-strong regional investment team advises investors on acquisitions or disposals of existing and future real estate assets and portfolios across all property types. This advice is backed-up with robust market data and intelligence. Kevin also oversees Colliers’ research and consultancy services and, since joining Colliers in 2019, he has executed the rollout of a coordinated Central & Eastern European research platform, including strategic advice to clients and publications. Kevin's previous roles have been in the HR consultancy, Information Technology and Public sectors, where he has gained valuable international experience working with people, technology, business and finance.

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Josef Stanko

Senior Research Analyst | Czech

Prague

I joined Colliers Czech Republic in March 2019 as an agent in Office Agency. In several months, I quickly caught-up and was involved in several successful contracts done by the agency. By the end of 2019 I’ve decided to join newly staffed department of research with vision to utilize my curiosity and look for new challenges, as I become responsible for whole new set of tasks.

My first step in commercial real estate carrier was in 2013 with PSN, a local developer active in residential, retail, office and warehouse sectors. I was able to acquire much experience in all these fields and in time accepted a position of letting manager of Kotva Department store.

Just before joining Colliers, I worked for Tesco Stores as a Mall Leasing Manager. My responsibility was to secure new leases for five biggest shopping centres which Tesco owned by that time in Prague, Pilsen, Ostrava, Opava and Karlovy Vary.

Prior of my career in commercial real estate, I worked in several construction companies as a designer in both civil and transport construction.  

 

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Josefina Kurfurstova

Research Analyst | Czech Republic & CEE

Prague

Josefina delivers market research and insights in the Czech Republic to both Colliers clients and its business lines, covering the Industrial & Logistics, Offices, Retail, Residential and Investment market sectors.In her previous career experience, she focused on market research and intelligence and has experience from sustainability & corporate social responsibility, public relations and banking. She worked in the CMA CGM shipping & logistics in France as an intern analyst to CSR and in BNP Paribas as an intern analyst to Central and Eastern Europe M&A. Josefina delivers market research and insights in the Czech Republic to both Colliers clients and its business lines, covering the Industrial & Logistics, Offices, Retail, Residential and Investment market sectors.

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Jana Vlkova

Director, Head of Office and Workplace Advisory

Prague

Since August 2019, Director of Workplace Advisory. I joined Colliers in April 2012 to take over the role of Head of Office Agency and in August 2018 I was promoted to the position Director of Business Development. I am  responsible for Occupier Services including Workplace Advisory which is followed by Test Fits, Fit-out design and building process, i.e. following the full occupancy process communicating with our clients including large corporates such as SAP, Microsoft or UniCredit Bank. I closely cooperate also with Office Agency to support the full scope of service connected with office occupancy. 

Prior to joining Colliers, I worked as the Managing Director of Bank Austria Real Invest Asset Management CR. I was responsible for providing full asset management services to internal (Real Invest Europe investment fund) as well as external clients (Pramerica Real Estate Investors). I managed portfolio of 9 properties in Czech Republic as well as Slovakia of the total value close to 200 mil. EUR and lettable area of 100,000 sq.m.

 

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