After an acquisition of complementary retail assets this year, Immofinanz is again expanding its retail portfolio in the Czech Republic with the acquisition of two properties from CPI Property Group. As the CPIPG holds roughly 77% of Immofinanz shares, this acquisition legally represents a transaction with related parties.

The third fund of the real estate and investment group Arete has completed the development of a modern industrial complex in the urban area of Pilsen, Borská pole. The long-term tenant of the hall will be Oxymetal CZ, which specializes in metal processing and production of metal components for various industries, including automotive, energy and construction. 

Mandarin Oriental Hotel Group has announced a new luxury hotel opening, following the renovation and rebranding of the former Gellért Hotel in Budapest. The renamed Mandarin Oriental Gellert Budapest is expected to open in 2027 with a focus on wellness.

The reconstruction of the Masaryk railway station in Prague will be done for the Railway Administration (SŽ) for approximately CZK 3.39 billion (€138.5 million) by Strabag Rail and Strabag, which were successful in the tender. ČTK was informed about this by SŽ spokeswoman Nela Eberl Friebová. During the reconstruction, a platform will be built above the track, a better connection with Florence will be created and trains will be able to run on nine tracks instead of the current seven. SŽ also plans to reconstruct the Smíchov and Main Railway Stations in Prague, writes ČTK.

Park Properties has purchased two land plots on the shores of Pipera and Balotesti lakes near Bucharest, where it plans to start two new residential developments with an estimated value of more than €40 million.

Industrial/logistics developer CTP has announced the 30,000 sqm expansion of CTPark Košice in Slovakia following two pre-lets.

Panattoni has finalised the sale of two industrial developments near the administrative capital of the Lower Silesian region. Together, Panattoni Park Wrocław East, and Panattoni Park Wrocław S8 South comprise a total area of almost 43,000 sqm. The price and the buyer have not been disclosed. 

2023 was marked in Poland by a shrinking office development pipeline amid a continued focus on the optimisation of office footprints and overall office running costs. It was also another year in which both tenants and developers faced relatively high office fit-out costs. In addition, high borrowing costs were a drag on expansion, with caution being a key theme characterising the Polish office market, says Newmark.

White Star Real Estate has published its ESG report for the year 2022, which includes a review of activities related to the areas outlined in its ESG Policy: environmental, social and corporate governance. Despite no legal obligation to prepare a non-financial report for 2022, the company opted to create a report in reference to the Global Reporting Initiative (GRI) guidelines.

The shares of Murapol made their debut on the main market of the Warsaw Stock Exchange. Thus, this residential developer became the 413th company listed on the Main Market and the 10th debut on this market in 2023.