December is a time for Romania to score positive results for sales at supermarkets, hypermarkets or discounters as well as for gifts, offering generous returns for retailers in shopping centres and preferring apparel rather than electronic goods relative to other Europeans. The season’s celebrations are a recurring highlight each year for the office segment as well, as both landlords and tenants invest in promoting the holiday spirit.

Market sentiment remains positive across Central and Eastern Europe, according to the RICS Commercial Property Monitor. Strong demand from tenants and investors persists in almost all market segments but the number of signs that some markets have reached their peak continues to grow.

Warsaw is experiencing growing demand for offices, absorption of new space, decreasing vacancy rates, and is expected to see rental growth and strong investment volumes. Next year, the city should further cement its dominant position as a thriving business hub and a regional leader in terms of economic growth and office market maturity. These economic fundamentals show no signs of slowing down, according to a report by JLL.

Developer Nova Imobiliare has started the construction works for Colosseum Mall as part of the expansion plan for its Colosseum shopping centre. The construction of the mall will be carried out by Axa Trans Construct, designated as the general contractor following a selection process.

Belgian real estate developer Speedwell is investing €40 million in a mixed-use project in the Romanian city of Cluj-Napoca.

Portuguese group Sonae Sierra announced that it purchased the 50% stake held by its former Joint Venture partner Caelum Development in Bucharest’s ParkLake shopping centre with the intention of consolidating its presence in Romania.

Prologis announced that demand for space at its new Prologis Park Brno has prompted the construction of a second speculative facility at the Czech site.

Multi Corporation and GEMO HOLDING have sold the Forum Poprad shopping centre in Poprad, Slovakia. The asset has been acquired by the real estate fund of ZFP Investments and MAT Corporation, part of the DBK group. The sellers have been advised by Cushman & Wakefield

Globalworth announced that Dimitris Raptis will be appointed interim CEO of Globalworth Poland Real Estate N.V. (GPRE). At the same time, he will keep his responsibilities within the Globalworth group, as Group Deputy CEO and Chief Investment Officer.

JLL secured the sale of an attractive land plot in Košíře in Prague 5 on Jinonická Street. The seller was Premium Imobilien and the buyer was developer Ideastav. In the future, there will be a residential project offering 28 luxury apartments with 42 parking spaces for sale. The transaction was provided by the SMI (Small and Medium Investment) department under the leadership of Pavol Bak.