Partners Group and Peakside Capital Advisors have completed the purchase of 5 ha plot on Kinetyczna Street in Okęcie, Warsaw. This exceptional last-mile location, situated in close proximity to the Chopin Airport and at the intersection between Warsaw’s Southern Ring Road and the S79 exit road, has been earmarked for a sustainable warehouse development dedicated to urban logistics. The transaction was made by the existing joint venture between both parties.

Popeyes is to open its first Warsaw restaurant in Złote Tarasy on 21 September. The fast food chain from Louisiana is the seventh new tenant to come to Złote Tarasy in 2023 after such brands as LUSH, Candy Pop, and Hugo. Cushman & Wakefield, which is responsible for the re-commercialisation and property management for the scheme, expects to see more international debuts in Złote Tarasy later this year.

Knight Frank Hungary has appointed Melinda Kovács as Associate Director. Specialized in office development and leasing transactions, she has a wide breadth of property knowledge, having gained experience throughout her career by working for international developers such as Skanska and Atenor as well as real estate advisory firms.

The world’s largest provider of hybrid working solutions with brands including Spaces, Regus, HQ and Signature, is expanding its Hungarian portfolio with 3 new openings, as the demand for hybrid working rapidly accelerates in the country.

CTP has secured €200 million in financing from the European Investment Bank (EIB) for the roll-out of its large-scale programme of solar panel installation across its European business park portfolio.

The investment transaction market in Romania reached €181 million in H1 2023, down by 43% compared to the same period of last year over rising financing costs. At the same time, the average price per property decreased from €24 million to €11 million, according to Cushman & Wakefield Echinox. 

Skanska has divested the first phase of its office complex H2Offices in Budapest, Hungary, to Erste Open-Ended Real Estate Investment Fund, represented by Erste Alapkezelő Zrt., for approximately €100 million. The transfer of the property is scheduled for the fourth quarter of 2023.

While international investors remain cautious, local players from CEE remain actively engaged, opportunistically monitoring the market, and taking advantage of reduced competition. Gábor Zeller, Senior Director, Capital Markets at iO Partners Hungary, talked to Property Forum about key investment trends and shared his market expectations for the rest of the year.

In September, Czech developer UDI Group started selling apartments in its first project overseas. The group not only handles the entire sales transaction for the apartments but also the follow-up servicing or leasing. Construction of the 15-storey condominium in the financial district of Panama City's capital is expected to be completed in 2026. 

Total demand for office space on regional markets in the first half of the year was similar to last year’s level, but there were more vacant offices in all major markets, except Warsaw. Warsaw recorded a 30 percent decrease in demand for offices, and yet the vacancy rate decreased. Only a few office projects are being implemented across Poland, says Walter Herz.