The investment transaction activity in Romania recorded total volumes of close to €170 million in the first half of 2023, which is down by around 50% compared to the same period, but the transactions could reach around €700 million by the end of 2023, according to Colliers data. 

The former Ballet Institute has been transformed into the five-star W Budapest hotel offering 151 rooms and suits in the very heart of the Hungarian capital. The new facility is part of the global portfolio of the Marriott Bonvoy brand. 

New multinational companies are leasing warehouses in Upper Silesia while taking advantage of comprehensive logistics services. Developers have secured plots of land in the region and will launch new projects once they pre-let 30-50% of the floorspace of a building as part of meeting banks’ lending requirements. According to the latest market data, Upper Silesia is the fastest-growing region, say Michał Kozar, Senior Associate, and Janusz Dudek, Senior Advisor, Industrial and Warehouse Department, Newmark Polska.

P3 Logistic Parks has commenced the development of another speculative warehouse with an area of 28,292 sqm at P3 Poznań, a warehouse park offering a total area of over 385,000 sqm. When expansion work is complete, P3 Poznań will cover a total area of 415,000 sqm, making it one of the largest logistics parks in Poland.

According to data from Cushman & Wakefield, Lublin is the leading Polish city in terms of retail space saturation for schemes exceeding 5,000 sqm. Its space saturation rate is 1,094 sqm per 1,000 inhabitants compared to 831 sqm for Warsaw – the most mature retail market in Poland. Paradoxically, this does not preclude further growth for developers active in this market. There is still room in the city for traditional retail parks that are developed in alternative locations - frequently on the outskirts – and are anchored by tenants offering convenience shopping geared to the day-to-day needs of inhabitants.

Stefan de Goeij is joining the Cushman & Wakefield ESG team as a Partner. The sustainability and property management professional will lead the CEE team as Head of Sustainability & ESG as of July 2023.

Immofinanz has announced the sale of the Twin Towers on Wienerbergstrasse in Vienna to S Immo.

At the end of Q2 2023, the office market vacancy rate in Warsaw reached 11.4% (down 0.2 pps compared to the previous quarter and decreased by 0.5 pps in relation to the comparable period in 2022). The Polish Chamber of Commercial Real Estate (PINK) has published figures on the office market in Warsaw for Q2 2023.

Panattoni has been granted a €27.5 million loan by Berlin Hyp to finance a distribution centre in Zakroczym developed for Action. The centre, which is to supply 160 stores from the chain and employ around 300 people, was constructed as a BTS (built-to-suit) development.

Czech architect Eva Le Peutrec has designed about 25 skyscrapers and her portfolio includes dozens of other prestigious buildings from hotels to railway stations or a city designed for one million people. She also managed to succeed in China and has worked for the famous Italian family Lamborghini. About her experiences from these projects, Eva talked to Property Forum in an interview.