The LIXA E office building, built as part of the office complex near Warsaw’s Daszyński Roundabout, has been granted a use permit. The building developed by Yareal Polska has provided the Warsaw market with almost 18,000 sqm of office space.

Developer Corwin has finished the residential complex Kvartet in Ljubljana. The first foreign project of a Slovak developer in Slovenia has obtained a valid building use approval and is almost completely sold out.

The industrial and logistics market in Romania reached a stock of 7 million sqm at the end of 2023, with another 500,000 sqm under development across the country, according to data by Cushman & Wakefield Echinox.

Palmira has acquired a property in Kragola, between Poznań and Łódź, for the European Core Logistics Fund (ECLF). Built in 2014 and tenanted by Eurocash S.A., the asset provides around 38,100 sqm of hall space and 1,600 sqm of offices. The vendor was Mirae. The parties have agreed not to disclose the purchase price.

In 2023, the European Central Bank's interest rates have reached their highest level in 23 years and they are not expected to decrease in the near future. This development has had a significant impact on various sectors, but on top of the podium is the construction and real estate industry. As interest rates rise, investors in both the residential and commercial segments are compelled to reassess their strategies, potentially leading to reductions in investments. Many have realised that now is the perfect time to optimise their portfolios by finding the right digital tools.

The investment and real estate group ARETE has announced that Jiří Król, an expert in alternative investments and manager with more than 20 years of experience in international leadership positions in investment institutions is joining the Supervisory Board of its investment fund, ARETE INDUSTRIAL SICAV, as of 1st February 2024.

Deutsche Pfandbriefbank has provided a €33 million investment loan facility to a SPV, managed by Amesbury. The company is utilising the proceeds for the refinancing of the two business parks near Prague. pbb has acted as the arranger, agent and sole lender under the facility.

Governments in Hungary and Poland have introduced new and renewed schemes to push the local housing market. The mortgage market has already shown some positive signs in both countries. However, the residential markets still face several problems which can not be solved quickly, says Guy Dymschiz, co-CEO of Duna House Group, active in Hungary and Poland.

Revetas Group announced a new partnership with Antonio Pomes, who joined the Revetas team as Director-Country Head Poland in the Portfolio Management department. In his new role, Mr. Pomes will be responsible for overseeing the Polish portfolio of assets, including Trinity One in Warsaw, Bonarka for Business “B4B” and Buma Square in Kraków. 

Only 60,900 sqm of office space was completed in the Polish capital in 2023, the lowest total in the history of the Warsaw office market. Savills also notes that development activity in Warsaw picked up in the second half of last year in response to a prolonged period of undersupply. In the most optimistic scenario, approximately 445,000 sqm of new office space will be delivered onto the Warsaw market in 2024–2026.