After more than a year of intensive negotiations, the sale and purchase agreement for Budapest Airport Zrt. was signed on Thursday, Hungary's Ministry of National Economy said in a statement. The Hungarian state acquired an 80% stake at a purchase price of €3.1 billion (HUF 1,207.5 billion), and the €1.44 billion (HUF 560.93 billion) loan taken out by the previous owners was extended.

The European Central Bank (ECB) has reduced its main interest rate from 4% to 3.75%, following Canada's rate cut earlier in the week. ECB President Christine Lagarde announced that the outlook for inflation had significantly improved, which enabled the rate cut. However, she warned that inflation would likely stay above the 2% target, averaging 2.5% in 2024 and 2.2% in 2025. The ECB remains committed to keeping its policy restrictive to achieve the inflation target. This rate cut, though anticipated, is seen as a relief for consumers and businesses, aiming to stimulate economic activity by making borrowing cheaper.

Hospitality group Mogotel has signed a partnership with Romanian developer Monarc Properties for the opening of the first Radisson Blu hotel in the seaside resort Mamaia.

EQUS Parks Holding has announced that the EQUS Park Lovosice project has received its planning permit. The project will offer 25,164 sqm of built-up area.

The Agadu residential complex in Bratislava has entered the EIA process, Yimba.sk informs. It is replacing the brownfield and warehouse area on Agátová Street. Due to the development size, the investor Agadu, close to the construction company Hornex, has planned to execute the construction in stages.

The estimated volume of new industrial deliveries in Romania is set to exceed 500,000 sqm in H2 2024, which would add to the existing stock of 7.1 million sqm.

The Varyáda shopping centre in Karlovy Vary has been undergoing extensive modernisation and expansion. Construction works are taking place while the centre is in full operation.

According to the latest report by Newmark Polska, the Polish warehouse and industrial market saw less than 1 million sqm transacted in the first quarter of 2024. At the end of March, the development pipeline stood at more than 2.3 million sqm while vacant stock in standing buildings experienced another rise. An increase in both developers’ and tenants’ activity is, however, expected to be spurred by long-awaited cuts to interest rates.

JTRE is developing a new neighbourhood on a four-hectare area on Rohanský island in Prague 8 – Karlín, including over a thousand apartments with shops and services. The sale of the first stage has been opened.

A distribution company has leased approximately 23,000 sqm of space at the MLP Pruszków II logistics centre. The tenant will move into the new facility at the beginning of September next year.