Preliminary agreement regarding the consolidation of Echo Investment's and Archicom’s residential business, high level of cash amounting to PLN 778 million, PLN 11.5 million in net profit which was mainly the result of the revaluation of Resi4Rent projects and handing over to customers nearly 300 apartments – this is a brief summary of Q1 2023 results of Echo-Archicom Group.

Student Depot plans to complete two new investments in Warsaw and Łódź in the autumn. Both student residences will open at the beginning of the academic year 2023/2024, thereby increasing Student Depot's portfolio by nearly a thousand beds. The new residents will find fully furnished rooms, coworking areas, multimedia rooms, as well as fitness zones.

Property group NEPI Rockcastle has obtained a BREEAM In-Use V6 Excellent certification for Ploiești Shopping City as part of its strategy to upgrade its operations to the highest ESG standards. 

Piotr Staniszewski, Partner, Real Estate, Dentons talked to Property Forum about the awareness of the PRS investors in Poland, planned legislative changes and the current financing conditions.

In Q1 2023, the Czech industrial real estate market hit record numbers and passed the 11 million sqm mark. The five-year average has broken when the total volume of newly completed industrial grew to 217,900 sqm, according to Colliers’ quarterly survey.

Australian firm Equiem, which offers tenant services for office buildings, has acquired SpaceOS, a European company for workplace management software, in a deal that adds Hitachi as a partner, Reuters reports.

Peakside Capital Advisors has started construction of City Point Targówek, the largest logistics park in Warsaw. It will provide 100,000 sqm of modern and sustainable warehouse space in a prime location near the city centre. The warehouse park will seek top LEED and BREEM certification ratings, and it will also pursue WELL certification, which has never been awarded in this market segment before.

After a period of rapid development in the years 2021-22, the Polish PRS market is experiencing a setback in terms of the number of both new projects and concluded deals. The participants of the investment panel during Property Forum’s Living Investment Forum 2023 conference in Warsaw tried to discover the reason for such a state of affairs.

Romanian developer One United Properties has sold Bucharest-based One North Gate, an office building spanning 4,500 sqm with an occupancy rate of 80%, to Element Investiții Imobiliare, owned by domestic investors, in a deal worth €6 million. 

The occupancy of Bucharest hotels increased by 33% in the first quarter compared with the same period of last year, and remains about 5% below the 2019 level, according to a report by Cushman & Wakefield Echinox.