Transport and logistics company Gebrüder Weiss has kicked off the construction of a new logistics project in Popești Leordeni, near Bucharest in a move designed to increase its storage capacity in the market.

Investment transactions in Romania’s commercial property market totaled €120 million in Q1 2023, which was almost double compared to the same period of last year. The deal volume was driven by industrial and office projects, according to a Colliers report.

Alexandros Diamantis, Managing Director of Medcity spoke with Property Forum about the company’s investments in Romania that reached €30 million to date and the new cities that have potential for new healthcare real estate developments.

Investment group DRFG has announced the acquisition of the new multifunctional development project Tři Dvory, with a market value of CZK 1 billion (€42.3 million). The project will be located on the site of a former royal mill on the outskirts of Újezd u Brna, in close proximity to the Stara Hora vineyards. Construction is due to start in spring 2024 and final completion is planned for spring 2026. 

Warehouse deliveries in Poland reached a historic high in the first quarter of the year, reveals the latest report from Cushman & Wakefield. Despite occupier activity remaining on a downward trend, Poland is still one of the fastest-growing warehouse and logistics markets in Europe.

One of the first private-sector affordable housing projects in the Czech Republic, Opatov II with 300 flats in Prague 11 by developer Sekyra Group, has reportedly been sold. The transaction has not yet been announced by the buying parties, but credible sources have confirmed it. The transaction was also confirmed by an advisor to the selling party. According to the information available, part of the flats are to be acquired by the insurance company Kooperativa from the Vienna Insurance Group and part should be bought by Dostupné bydlení České spořitelny (subsidiary of Česká spořitelna bank) as the company's second housing project in Prague. The transaction amount has also not yet been disclosed.

As it was announced in April, JLL will soon transfer most of its existing business lines to iO Partners in Romania, the Czech Republic, Hungary and Slovakia. US-based real estate private equity fund manager Michael Stanton, Founder of iO Partners, talked to Property Forum about the details of the deal and shared the new company’s plans for the future.

The Prague City Council has approved the investment preparation of the Beranka residential project in Prague Horní Počernice. The construction of 300 flats on an area of 63,000 sqm is being prepared under the management of the Prague Development Company (PDS). Architectural competition and tenders are being prepared. PDS plans to build between 2025 and 2030.

IRE-TEX Praha, which designs, manufactures, and supplies packaging solutions, is moving part of its production, warehouse and offices to new premises in the Fáblovka industrial zone in Pardubice from October 2023. Savills mediated the five-year lease of the entire 7,500 sqm hall. IRE-TEX has two more production halls in Pilsen.

According to the report prepared by Newmark Polska, the first quarter of 2023 was dominated on the Polish warehouse and industrial market by the number two. Warehouse deliveries totalled almost two million sqm and close to two million sqm of warehouse space was available for immediate occupancy. There is just over two million sqm under construction, while Poland’s overall vacancy rate is now at its highest in over two years.