Echo Polska Properties announced the conclusion of the acquisition of three retail assets, Twierdza in Kłodzko, Twierdza in Zamość and Wzorcownia in Włocławek in Poland, from real estate funds managed by Blackstone for €141.60 million.

The Iulius Company started the construction works for a new Class A office building in Timişoara, as part of the Openville project, the largest mixed-use development in Western Romania. This is the third office building developed under the United Business Center (UBC) brand of the seven office buildings to be included in the project. With a gross leasable area upwards of 130,000 sqm, the office component of the Openville project is set to become a regional business hub.

Warsaw’s Kopernik office complex has received a BREEAM In-Use certificate with “Very Good” ratings in both Asset Performance and Building Management. The audit, commissioned by Cushman & Wakefield, the office park’s property manager, was conducted by Go4Energy.

Echo Investment concluded a contract with the PKO BP bank concerning an investment loan of nearly €32 million and a VAT loan of PLN 6 million. The funds will be used for the execution of the Sagittarius Business House office project in Wrocław.

Iulius Group and South African investor Atterbury Europe have set up an equal partnership to develop the Openville Timişoara mixed-use project. 

Bank cards play an increasingly bigger role in every aspect of our lives and passengers in CEE countries are becoming increasingly open towards using electronic payment solutions to pay for public transport services. Frantisek Jungr, Senior Business Development Manager for the CEE Region at Visa Europe talks to Property Forum about the experiences he gained during the implementation of electronic ticket systems in the Czech Republic, and while learning about the Czech examples, we also examine the shortcomings of Budapest’s current and future ticket system.

Savills has listed the trends dominating Warsaw’s office market. The most important observation is the creation of a new group of tenants – co-working space operators, which generate an increasing share of demand. Also, as a result of Brexit, up to 4,000 new jobs can be created in Warsaw and the falling unemployment rate will increase the importance of office space in attracting best talents.

Knight Frank will manage the Maraton office building in Poznan. Union Investment, the property owner, entrusted the company with the management of a building with a total GLA of more than 26,000 sqm.

P3 is to start the construction of two new warehouses with a total floor area of 25,500 sqm at the P3 Prague Horní Počernice logistics park to respond to growing demand for space at the park. Once the expansion is completed, the park will have a total lettable area of nearly 380,000 sqm. Scheduled to start in the second half of 2017, construction will be completed at the beginning of 2018.

Penta Investments has obtained financing for the D48 office building, which is under construction in Warsaw’s Służewiec district. The project should be completed in August with the building expected to be put into operation in early October. It will have a GLA of over 26,000 sqm.