Skanska Commercial Development Europe signed final sales agreements, totaling nearly €500m, on 11 office buildings in the CEE region in 2015, accounting for more than 20 percent of the office deals reported in the Czech Republic, Hungary, Poland and Romania for the year.
Skanska signed three deals on the Czech market, including Riverview in Prague 5-Smíchov, Nordica in Ostrava and Corso Court in Prague 8-Karlín. In Poland, the company sold a four-building portfolio with projects located in Kraków and Katowice. The transaction marked Skanska’s largest office deal in the CEE region, said Adrian Karczewicz, transaction director at Skanska Commercial Development Europe, adding that it was also the biggest deal on the CEE market last year.
“This deal, combined with the closing of the Green Horizon, Dominikanski and Malta House transactions, represented 25 percent of the total office sector volume nationwide, and more than 45 percent of the sector’s overall volume in Polish regional cities. In addition, three more buildings, located in Prague, Ostrava and Bucharest, found buyers last year, too. We saw increasing investor interest in office developments. Despite a slight dip in yields, CEE investment products often provide a higher return than similar assets located in western European countries.”
