P3 Group has released its condensed consolidated interim financial statements for the six-month period ended 30 June 2023. The company reported continued strong operational and financial performance. 

Octava has sold the Obrzeżna Center office building in Warsaw to a Polish investor. The price has not been disclosed. Avison Young and Savills jointly represented the seller.

The first residents will move into Creditas Real Estate's Nové Boroviny residence near Kladno (30 km north of Prague) in early 2024. In the first stage of the project, there are 161 flats with layouts from 1+kk to 4+kk, some of the flats have already been sold. 

Developer UDI Group will launch a residential development in Prague directly opposite the Lužiny metro station. With an investment of more than CZK 1.3 billion (€52.6 million), two apartment buildings will be built here to complement the shopping centre, in line with the original plan from the 1980s. 

It would be an unfavourable purchase, Prague councillors agreed in the case of the Jindřiška Tower, for which the Prague Archbishopric is demanding CZK 100 million (€4 million). This is twice as much as an expert's opinion, according to newstream.cz which commented on the original CTK report. 

The Garden Lofts boutique project in Prague 5 with luxury apartments has been approved. New owners will be able to move in during the autumn. The lofts also include access to a private multi-purpose garden with greenery, seating, workout area and a garden pool. The exclusive sale is being handled by Luxent - Exclusive Properties. 

Swobodna SPOT is a new project by Echo Investment at 60 Swobodna Street in Wrocław. There will be a total of 41,600 sqm of leasable space in the project located in the city's business centre. Two office buildings and a green urban walkway connecting them were designed by architects from Kuryłowicz & Associates.

According to the State Employment Service, as of September 1, 2023, the number of vacancies in the construction industry exceeded the number of registered unemployed. Representatives of the largest developers in the capital speak of a shortage of workers. Olga Solovei summarised what is happening in the labour market in the construction sector of Ukraine in an article prepared by the Ukrainian Real Estate Club for Property Forum.

According to the latest report published by Newmark Polska, tenants in the Warsaw office market continue to carefully review their needs, including potential office locations, while landlords are actively adapting the standard of office space to occupier requirements. New leases, including pre-lets, accounted for more than half of all deals recorded in the third quarter, but renegotiations still represented a large proportion of total take-up. At the same time, there is still a strong interest in ESG solutions and their implementation.

In Poland, on average, only 1 out of 100 students can expect a place in a modern dormitory. In Europe, approximately 15% of students can secure accommodation in dormitories. According to JLL research, the current unmet demand for student beds in dormitories reaches 4.7 million in the largest European cities. Poland, with 1.2 million students, ranks sixth in Europe in terms of the potential market for student accommodation operators, not far behind Spain and Italy.