Construction has begun on the Office Garden IV complex, which is being developed in Budapest by GRT Group, with the work to be completed in Q2 2021.

CTPark Sibiu II will receive its first tenants in about two months. The park has a total area of 9 hectares and in the first stage, 13,200 sqm are built-up and pre-leased. At present, only 2,600 sqm are available, the rest of the space is already leased to two companies. Upon completion of all the buildings in the park, the investment in its development will total about €23 million. This is the second investment of CTP in Sibiu after the expansion of a factory completed last year, but it is the first CTP premium logistics park with more tenants in the area.

Allianz Real Estate intends to invest as much €500 million in CEE property over the next two years, according to a Bloomberg article.

Soon after announcing the construction of S5 Wrocław North Gate, Panattoni Europe revealed another project in Lower Silesia – Panattoni Park Wrocław XI. The investment, planned to total 100,000 sqm, has become number one for Pantos Logistics. The company will take up 72,000 sqm in the park to run operations for LG Chem, LG Electronics and others. The project as a whole is scheduled for completion on 30 November 2019.

Colliers International is extending its range of services in Poland. The company has been joined by Bartosz Jankowski, who has become the director of the new Design & Build department as a partner. The new business line will offer fit-out and construction services, including comprehensive implementation of space arrangement projects in office, hotel and service buildings.

Approximately €754 million was invested in Polish commercial property in the first quarter of 2019, according to Cushman & Wakefield’s latest investment market report.

Futureal Group has sold its Advance Tower located on the Váci road office corridor to Erste Real Estate Fund. This is the first transaction in the Hungarian market, which includes a WELL pre-qualified office building having a beneficial impact on employees’ health and comfort. The real estate fund has acquired the first phase of the complex developed by the group, while the second phase could join its portfolio under a forward deal.

In order to finance its further growth, Globalworth successfully completed a capital increase of €500.5 million. The EBRD invested a further €25 million to support the company’s planned growth. The Bank became a shareholder in Globalworth in December 2017 and currently holds a 5.8 per cent stake in the company.

White Star Real Estate is starting construction of a new business park, named park22, which is adjacent to the Campona Shopping Centre in southern Budapest. This multi-phase offers prospective tenants flexible solutions that reflect today’s market needs including warehouses with mezzanine office units and independent office spaces. In the course of implementing the project, special emphasis is being given to maintaining a healthy balance between green space and buildings, as the 15-hectare site will comprise of 60,800 sqm of lettable warehouse and office space and 53,500 sqm of greenery.

The pace of yield compression decelerated across Europe’s commercial real estate markets in the first quarter of 2019, according to Cushman & Wakefield’s latest DNA of Real Estate report.