Just a few months after the handover of the first 21,000 sqm speculative industrial and logistics hall of IGPark Kecskemét South, Infogroup started the construction of a new building. The new hall is scheduled to be handed over in q4 2024.

The modern industrial stock reached almost 11.5 million sqm, as nearly 183,000 sqm of new space was delivered to the Czech market in Q3 2023. Demand for industrial space slowed down in Q3 2023 reaching only 181,700 sqm. Speculative development slightly increased to 41% of the over 1.4 million sqm currently under construction, continuing the trend of the previous three quarters. The vacancy rate decreased by 22 basis points compared to the previous quarter, and remained low at 1.5% Prague’s average highest achievable rent has remained stable, reaching around €7.50-7.70 per sqm per month, the Industrial Research Forum (IRF) reports. 

Hilton has announced plans to open Italy’s first LXR Hotels & Resorts property, following a franchise agreement with Romanian group Pavăl Holding and Apex Alliance.

iO Partners, the JLL Preferred Partner, appointed Robert Sgariboldi as the Head of Industrial agency in Czechia. This strategic move comes in the wake of the recent appointment of James Fitzgerald as Regional Director for the Industrial & Logistics business, covering the CEE and Balkan region.

On the financing side, there is still demand for lending towards logistics. Maarten Otte, Head of Investor Relations at CTP, talked to Property Forum at Expo Real about financing conditions and the developer’s ambitious plans for the future.

The Turawa Park shopping centre near Opole, Poland has received a building permit to proceed with the expansion. The upcoming stage of this project will incorporate an extra 10,000 square meters, expanding the total retail area of the shopping centre to 36,000 square meters.

Ostrava Airport has opened an air cargo terminal called Cargo 2 at the airport in Mošnov in the Novojičín region (25 minutes south of Ostrava). It cost CZK 139 million (€5.6 million) to build and was constructed by the Ostrava company HSF System. The terminal will increase the airport's capacity and improve the quality of cargo handling, the Czech News Agency (ČTK) reports.

Bratislava's residential new building market continued in stagnation during the period of Q3 2023. Sales remained at the same low level as in the previous two quarters, meaning fewer than 200 apartments were sold. The supply of new apartments increased only slightly, with a similarly slow rise in price to €5,100/sqm incl. VAT. The price increase is due to the arrival of new apartments in the higher housing segment while the average price of existing projects remains unchanged, reported analysts from Bencont Investments.

Office availability in the Warsaw office market is shrinking, with the vacancy rate for the whole city down to 10.6% and to just over 9% in the centre, says Savills. Tenants are, however, likely to enjoy a wider choice of options once more office projects are restarted. This process is already slowly getting underway, as is clear from the growing development pipeline.

Elektrokontakt Romania (EKR), a subsidiary of ELEKTROKONTAKT GMBH, has leased 14,735 sqm for the next 10 years in Mureș City Logistics, jointly developed by Globalworth and Global Vision. Following this deal, the project has reached full occupancy rate.