Despite the improving performance, inflation and financing costs remain significant challenges in the hospitality sector in CEE. However, reduced interest rates, stabilised construction costs, and strong recovery in midscale and budget segments may stimulate investment, panellists stressed at CEE Property Forum 2024 in Vienna.

Invesco Real Estate has acquired Cloud One Gdańsk hotel in Poland on behalf of its German client. The seller is Granaria Development Gdańsk, a joint venture entity created by Immobel and Multibud. The price has not been revealed.

Prague is intending to buy the historic building of the freight station Žižkov and the adjacent land from Czech Railways, reports E15.cz. If the purchase is completed the capital is planning changes to the zoning plan in the entire extensive brownfield next year allowing other developers to build.

Industrial developer CTP has announced the leasing of 19,000 sqm of warehouse and office space in Serbia-based CTPark Novi Sad East to Shanghai Huizhong Automotive Manufacturing (SHAC), a Chinese supplier of car parts and systems. 

The CEE office market has been coping with post-COVID consequences and forcing both landlords and tenants to explore opportunities to improve space utilisation. Expert speakers at CEE Property Forum 2024 in Vienna have revealed interesting strategies for the best office assets in the panel dedicated to the office market.

Nepi Rockcastle has acquired the Silesia City Center mall in Katowice, in the Silesia province of southern Poland for €405 million, in one of the largest shopping centre transactions in Central and Eastern Europe in recent years. The vendors are Allianz (45%), Kamsa Luxco (45%) and Cura Beteiligungsgesellschaft (10%). Silesia City Center extends over 88,400 sqm of gross lettable area (GLA) and is a dominant shopping centre in Katowice, economically one of the strongest cities in Poland, with average spending per capita exceeding the national average by 35%.

We have previously published insights on the recovery efforts in Ukraine, and we would like to share some remarkable examples of how commercial projects damaged by missile attacks are being rebuilt. Shopping malls, office buildings, and logistics centres are often prime targets during hostilities, yet Ukrainian businesses are showcasing extraordinary resilience as evidenced in this summary prepared by the Ukrainian Real Estate Club for Property Forum.

Property investor Alfi Real Estate Fund has expanded its portfolio with the acquisition of Planet Koper shopping mall in Slovenia, the company announced on LinkedIn.

Turawa Park shopping centre near Opole (southern Poland), owned by Focus Estate Fund since 2022, is steadily focusing on development and modernisation to meet the expectations of both customers and tenants. As part of the reconstruction, approximately 9,000 sqm GLA of space has been redesigned and enhanced. The project’s total cost was €5.5 million, with financing partially secured through BNP Paribas Bank.

Logicor has signed a lease extension agreement with Auchan Poland, the Polish arm of the French retail giant. The agreement covers a total space of 46,300 sqm – comprising 43,790 sqm of warehouse and 2,450 sqm of office space at Logicor Mszczonów where Auchan occupies the entire Building No. 4.