Skanska
Advertorial
300,000 square meters of new futureproof office space – one region, four countries, ten cities What illustrates the strong economy and investment attractiveness of the CEE region? Among other factors, the rapid growth of the commercial real estate sector. Players such as Skanska Commercial Development Europe, now with property developments across Poland, the Czech Republic, Romania and Hungary, were quick to see CEE’s potential. Today, the 100-150 bps prime office yield spread between the capital cities of Western Europe and cities in CEE like Prague or Warsaw, and recordbreaking leasing and divestment activities illustrate the fact that this market has been an excellent choice – for developers and investment funds. Skanska CDE continuously breaks its own records, pushing itself and the competition to the limits. After the company’s CEE divestment record in 2015, last year saw exceptional leasing activity. The company leased almost 170,000 sqm GLA of office space in ten CEE markets – the best ever leasing result.
Katarzyna Zawodna, President at Skanska Commercial Development Europe
“We had a fantastic year with major successes and historically high leasing results across CEE. We have established close relationships with tenants, investors and business partners, and greatly appreciate the trust they have place in us. Currently we have almost 200,000 sqm under construction. After strategic land acquisitions in Poland, such as those in the heart of Warsaw’s central business district, 2017 will see Skanska CDE start new developments totaling over 300,000 sqm. Skanska simply tries to provide communities with valuable, sustainable office buildings that are futureproof and accessible for everyone,” says Katarzyna Zawodna, President of Skanska CDE. Skanska CDE’s offices are not only excellent workplaces, but also top-quality investment products, which can compete with assets of the same class from Western Europe. Over the last two years, the company has signed final sales agreements with nine investors, for 15 office buildings in four CEE countries – testament to the company’s products and working standards. “The yield spread between Western and Eastern Europe, which favours CEE, is attracting many investment funds. In 2016 alone, Skanska CDE established new relationships with three investment funds, selling the Atrium 2 office project in Warsaw to HANSAINVEST Real Assets, and the Nordic Light office building in Budapest to Erste Alapkezelő Zrt. Another major deal was the sale of Westin Hotel in Warsaw to a Quatari player, Al Sraiya Holding Group. HANSAINVEST and Al Sraiya were both newcomers to the market, choosing Skanska assets as their first investments in Poland. We’re also proud of the fact that when our business partners want to diversify their real estate portfolios in the region, they come back to us – it makes our work valuable,” says Adrian Karczewicz, Head of Divestments CEE at Skanska CDE.
Adrian Karczewicz, Head of Divestments CEE at Skanska CDE
Skanska Commercial Development Europe (CDE) Skanska CDE is part of Skanska, one of the world’s leading project development and construction groups with an almost 130-year history in the real estate sector. Skanska CDE is an investor and developer of green innovative office projects. The company’s operations are conducted by four local units in the key CEE markets: Poland, the Czech Republic, Romania and Hungary, in ten major cities. The company provides flexible office space tailored to the needs of modern companies, meeting the highest requirements of sustainable development, which is confirmed by their LEED certification. Thanks to its close relationships with business partners, the company enjoys the trust of tenants and investors, who are willing to continue to work together successfully, expanding their businesses in Skanska’s other office buildings in the region. Over the years, the company has won numerous prestigious industry awards and rankings for the CEE region. Among them is the 2016 CEEQA Award for Developer of the Year. More information can be found at: www.skanska.com/property