Mega Mall, the shopping centre in Bucharest owned by NEPI Rockcastle, will be expanded with new stores and a residential component that will include around 180 apartments. 

British investment company Verdion has sold the building that houses the headquarters of US courier company UPS for Eastern Europe. The 13,600 sqm building has been bought by Safichem Invest, which is backed by Czech owners. Neither party has disclosed the purchase price. The transaction was reported by HN.cz

Most of the crown that constitutes the architectural and compositional peak of the Eurovea Tower residential development by JTRE has reached its final height of 168 metres. Only the crown, the façade on the upper five floors and the residential interiors remain to be completed in Slovakia’s tallest building. The entire project is planned to be finished next summer.

Duna House Group published its monthly Transaction Number Estimate, according to which 8,000 residential properties changed hands nationwide in November 2022. This value represents the weakest month this year, a 4 percent drop compared to the previous month and a 27 percent drop compared to November last year.

When it comes to residential real estate assets, Czechs are oriented largely towards an ownership model. The ratio of owner-occupied to rented apartments in Prague, for example, is approximately 70:30, similar to the EU27 average. Still, the Czech Republic is somewhat behind more advanced markets in terms of market evolution towards new trends. However, with the shift to hybrid working, intense talent searches, and the growth of the business services sector, Prague and other large Czech cities will need more flexible housing solutions soon. The average bid price for a newly built apartment in Prague was approximately CZK 155,000 per square meter during Q3 2022. This represents an increase of 7% since the start of the year, according to an analysis done by Colliers.

Following the pause caused by the coronavirus pandemic, Cushman & Wakefield has brought back the Main Streets Across the World report, ranking 47 countries by headline rents in best-in-class urban locations in each of them. The Czech Republic is newly represented by Prague’s Pařížská Street, which has replaced Na Příkopě as the country’s most expensive street. Among the other most expensive main streets of the world, Pařížská ranks 17th (Na Příkopě ranked 18th in 2019) and comes first in the CEE region. As compared by the survey, the highest prime rent achieved in Pařížská as of this year’s third quarter amounts to €2,719 per square metre per year, or approximately €227 per square metre a month.

7R Park Wrocław West II has been granted a valid building permit. This is another development in the Lower Silesian Voivodship to be invested in by 7R. The facility will be built in Kąty Wrocławskie. Ultimately, it will provide nearly 44,000 sqm of class-A logistics and production area.

Ghelamco has announced that it has signed an agreement to sell Plac Vogla, a retail and service center in Warsaw’s Wilanów district. Investment group LCP Properties, which also acquired the Prochownia Łomianki retail park from the developer in October this year, has become the new owner of the building. The price has not been disclosed.

The AFIhome Karlín rental residence project with 172 apartments from AFI Europe has been approved. This is the second rental housing project by AFI Europe, this time for CZK 1 billion (€41 million). The apartments will be available for move-in in spring 2023, the developer announced.

Christopher Mertlitz, Managing Director, Head of European Investments at W. P. Carey, talked to Property Forum about the environment for property transactions in 2023 and the company’s focus on mission-critical projects in its portfolio.