Having benefitted from predominantly business-driven demand in the past, Bucharest is currently establishing itself as a popular tourist destination. The analysis of Christie & Co shows a positive growth trend both in supply and demand, resulting in a continuously improving performance of Bucharest’s hotel market.

As part of the largest ever transaction on the Hungarian office market, Futureal Group has sold the fifth office complex developed on Corvin Promenade to OTP Real Estate Investment Fund. Through this transaction, OTP Prime Real Estate Investment Fund has now acquired the Corvin Technology Park office building from the group. Following the sale, the office portfolio of real estate funds managed by OTP Real Estate Investment Fund Management Ltd. will offer nearly 100,000 square meters on Corvin Promenade.

Kraków is continuing its good run as Poland's second largest office market. During the first six months, lease contracts for nearly 135,000 sqm were signed in Kraków which equates to 44% of demand for modern office space outside Warsaw. The most notable transactions in H1 2019 signed both in Kraków and in the largest regional markets in Poland were a record pre-let by UBS for 19,600 sqm in Fabryczna Office Park, a pre-let by Sabre for almost 16,000 sqm in the Tischnera Office, and an 11,200 sqm renewal by Akamai in the Vinci Office Building.

CTP will complete the construction of a new factory in Kragujevac, Serbia for one of the world leaders in the production of car components. The investment is worth €16 million and will help create around 800 jobs in Kragujevac in the surrounding places.

Blackstone announced the launch of its pan-European last mile logistics real estate company, Mileway. The new company owns and operates approximately 1,000 logistics assets that have been acquired by real estate funds managed by Blackstone over the last several years.

French-based investment fund AEW has sold the America House office building in Bucharest to the real estate investment division of Morgan Stanley in association with a group of Israeli investors highly active on the real estate market, represented by David Hay

Cushman & Wakefield has been appointed as the exclusive agent to commercialise extra space available following the downsizing of its big-box hypermarkets to a smaller compact hypermarket format.

Hines Global Income Trust has acquired a modern logistics park with an area of over 30,000 square meters near Gdańsk. The property purchased on 24 September 2019 from the investment platform The SEGRO European Logistics Partnership (SELP) will be managed by Hines Polska.

JLL will be responsible for leasing commercial space in Airport City Gdańsk. Construction of the complex, whose usable area will ultimately total approximately 120,000 sqm, will start at the end of this year.

Element Industrial announced the completion of the first phase at ELI PARK 1 Chitila. The warehouse, with an area of 20,000 sqm is rented to Turkish-based appliances producer, Arctic. The company has already begun its operations in the new logistics space.