CEE developer HB Reavis has more than one million m2 of developments in the pipeline, according to research from PropertyEU. The size of the top-10 projects are all over 100,000 m2 with the biggest – New Nivy – totalling more than 227,000 m2.
Located near Bratislava’s Nivy bus station, New Nivy comprises a 100,000 m2 retail scheme as well as two office towers.
HB Reavis has grown in recent years into one of Europe’s largest developers with operations in Central and Eastern Europe, Germany and the UK, and a pipeline of over 20 developments across its portfolio. In 2017, the company ranked second in PropertyEU’s overview of top office developers with a total of 334,500 projects completed in the three-year period between 2014 and 2016.
The bulk – or 311,500 m2 – of the total developments were offices.
According to PropertyEU’s 2017 ranking of pipeline projects, HB Reavis accounted for three of the biggest developments in the top 10 and four in the top 20.
By contrast, other leading European office developers such as Paris-based companies BNP Paribas Real Estate, AXA IM - Real Assets and Unibail-Rodamco had just two developments each in the top 20. The second-largest development in last year’s ranking was MesseCity in Cologne, a 135,000 m2 project of a joint venture between Hamburg-based ECE and German construction firm Strabag.
Another leading office developer in Europe, Houston-based Hines, likewise has two large offices under construction in Paris but the volume of both is under 100,000 m2. Elsewhere in CEE, Ghelamco Poland is developing the 78,000 m2 Warsaw Hub in the Polish capital.
Flagship developments
HB Reavis is currently working on a number of flagship developments including Varso Place in Warsaw (more than 145,000 m2), a 53-storey mix use tower designed by Foster + Partners that will be one of Europe’s tallest buildings when complete. Other schemes underway are Budapest’s Agora office complex (almost 136,000 m2), and the redevelopment of One Waterloo (almost 93,000 m2), which is situated next to Waterloo station, London’s busiest transport hub.
The company has also rolled out a number of new initiatives such as Origameo, HB Reavis’ workspace advisory that helps clients relocate to a suitable modern office environment, and HubHub, a proprietary co-working platform.
The updated ranking of the top developments in Europe will be published in the May edition of PropertyEU.
