Immofinanz is driving the expansion of its Stop Shop retail park brand and has now purchased eight retail parks in Slovenia, Serbia and Croatia. The purchase price totals approximately €90.5 million. The newly acquired properties are fully rented and generate an annual rental income of roughly €7.2 million, which represents a gross return of 8.0%. These transactions increase Immofinanz’s Stop Shop portfolio to 80 locations in nine countries with over 567,000 sqm of rentable space and a carrying amount of approx. €800 million. Further acquisitions are currently under evaluation, and two Stop Shops in Poland and Serbia are now in the active development phase.

For the first time in five years, Hong Kong’s Causeway Bay has replaced New York’s Upper 5th Avenue as the world’s most expensive retail street by rental value, according to data from Cushman & Wakefield. The Czech Republic has made it into the top 20 world’s most expensive retail streets. With rents of €230 per sqm per month, Prague’s Na Příkopě Street is at No. 19, leaping three positions up from the last year

CPI Property Group unveiled its new plans and projects at MAPIC. The Group plans to refurbish the Campona shopping centre in Budapest, extend Královo Pole in Brno and Olympia in Pilsen and remodel the food court in the Ogrody shopping centre in Elblag, Poland.

Construction has begun at Infinity, a modern office project developed jointly by Avestus Real Estate and European Property Investors Special Opportunities 4 (EPISO 4), a fund advised by Tristan Capital Partners. Located in the very centre of Wrocław at John Paul II Square (at the intersection of Legnicka and Nabycińska Streets), Infinity will offer 22,036 sqm of lettable area. The ground works have commenced with completion of the building scheduled for Q3 2020.

Between Q1 and Q3 2018, demand for office space in Poland reached nearly 1.1 million sqm, signalling a continued strong market momentum. JLL summarised the situation on the Polish office market at the end of Q3 2018.

Technology is not going to completely reshape the property business overnight, mentality and infrastructure developments will define the speed of adaptation in different parts of the world. Over 120 real estate professionals came together at Property Technology Forum Europe 2018 in Warsaw, co-organised by Property Forum and RICS, to discuss the future of the profession.

Skanska and local developer Prime Kapital might share the 11-hectare Griro platform in Bucharest, controlled by businessmen Nicolae Badea and Fatih Taher, in a €50 million transaction, according to market sources.

Panattoni Europe plans to transform the former Škoda Plzeň complex in the Borské terasy area in Pilsen into a modern technological centre. The extensive 28-hectare brownfield is currently empty, but it has great infrastructure and is well connected to the surrounding industrial plants. Panattoni Europe’s plans are in line with the current development strategy of the city of Pilsen and are currently undergoing an EIA environmental impact assessment. The total amount of investment is estimated at more than €77 million (CZK 2 billion).

In 2020 Poland’s first NYX Hotel will open in the middle of the three Varso Place buildings HB Reavis is developing. It will occupy almost 20,000 sqm of space on fifteen floors. The four-star hotel will offer 331 rooms.

According to CBRE, the global property investment volume increased 3.6% year-to-date (YTD), compared to the same period of last year, with Q3 up by 1.2% (in fixed exchange rates). Taking account of last year’s strong appreciation of the U.S. dollar, global investment volume grew by a greater 5.9% YTD.