YIT has completed the third residential stage of Tornio, which expanded the multifunctional complex Lappi Hloubětín in Prague 9 with 79 new apartments. Almost half of the units are currently sold out.

Romania saw new construction volumes expand by 64% in 2023 compared to the previous year, reaching also a record in gross value and growth rate from the past decade, according to the EBI Construction Activity Report.

IBB Holding Romania, founded by Romanian entrepreneur Ion Crăciunescu, has started the development of a new residential complex in Pipera, near northern Bucharest, which will have a market value of around €160 million.

Victor Căpitanu, Co-Founder and Co-CEO of One United Properties spoke with Property Forum at Mipim in Cannes about the company’s residential development pipeline valued north of €1 billion and Bucharest’s capacity to provide high yields for real estate investors.

Companies with expiring lease contracts are increasingly preferring renegotiation to move to new premises. One of the reasons is the high office fit-out costs, as the outcome of Cushman & Wakefield’s annual EMEA Fit Out Cost Guide is showing.

Geosan Development is launching another series of apartments in the Radimova Břevnov Residence in Prague 6. The developer has sold over 60% of the apartments in the project so far.

Colliers announced a change in the Managing Director position in Slovakia. Richard Urvay, Colliers’ current Managing Director in Slovakia is departing the business by the end of April to take up a client-side role. Tewfik Sabongui, current Managing Partner in the Czech Republic, will expand his responsibilities to include being Managing Director of Slovakia.

Panattoni has launched the construction of Panattoni Park Ruda Śląska IV. The new project will comprise 30,000 sqm and at the start a major tenant has already been found with midocean to lease 20,000 sqm of storage space including an extension option for a further 10,000 sqm.

Mitiska REIM has announced the sale of a 6.7ha land plot in Gliwice (Silesia, Poland) to Momentum Leisure to develop a theme and water park at Europa Centralna retail centrre The price has not been disclosed. 

As development activity has slowed down, the focus is shifting to managing the existing stock across the whole commercial real estate market. Owners and other stakeholders have to adapt rapidly to serve changing demand from occupiers, said Benjamin Perez Ellischewitz MRICS, Principal at Avison Young in Hungary, while answering Property Forum’s questions at Mipim in Cannes.