Following a change to its investment model, the ORPEA Group, an entity specializing in long-term care and rehabilitation, has decided to restructure its project portfolio in the largest Polish cities, which were built for its planned expansion. Savills has been instructed to search for investors.

Romanian company Eden Capital Development has started the development of the second phase of the Cortina North residential project in Bucharest that will include close to 1,000 apartments, with the first deliveries expected in the second half of 2023. 

Around 120,000 sqm of retail projects are slated for delivery in the second half of 2022, although some projects could be delayed until the first part of 2023, especially if the developers meet certain difficulties with the construction or leasing process, according to real estate consultancy Colliers. 

Property developer Speedwell has recently obtained the building permit for the second residential building of the Paltim mixed-use project developed in Timișoara. 

The Rome City Hall has not approved the plan to build a new stadium for the AS Roma football club on a brownfield site, which until recently was the favourite for this development and which is owned by the CPIPG group. According to the Italian media, the group wanted to invest €5 billion there. Its further Italian expansion is thus slowing down. Alongside the impact of the Covid pandemic and the war in Ukraine, this is another blow to the group's business plans in Italy, writes E15.cz.

CA Immo has reported strong second-quarter results, continuing the positive business development of the previous quarters. In a challenging market environment, CA Immo increased its recurring earnings (FFO I) in the 1st half-year by 7.9% compared to the previous year, to €73.9 million. Rental income in the first six months was stable at €121.1 million (+1.0% y-o-y), reflecting recent portfolio additions and organic growth despite property sales. Consolidated net income improved by 28.5% to €220.1 million. Following the strong first half-year, CA Immo expects recurring earnings (FFO I) of more than €125 million in the 2022 business year.

In H1 2022, Immofinanz's rental income reached a high level of €144.2 million, the results of asset management improved by 3.0% to €110.0 million, and sustainable FFO 1 from the standing investment business rose by 6.1% to €78.7 million. Net profit equalled €162.7 million, whereby the first half of the previous year was influenced, above all, by a substantial revaluation of the investment in S Immo. With an equity ratio of 57.3% and conservative debt with a net LTV of 32.5%, Immofinanz has a strong capital base.

Purpose-built student accommodations are in short supply across the region, but some investors and developers find them very attractive. However, due to the recent dramatic economic changes, companies need to adapt to tougher business conditions and adjust their development pipelines accordingly, says Bálint Botos, Managing Partner of Forestay Group.

German optic company Fielmann wants to set up a new highly automated fulfilment centre for its markets across Europe and therefore signed an agreement about a future lease in Garbe Park Chomutov. The company plans to occupy approximately 30,000 sqm and the planned investment is up to €65 million. This will create 500 jobs in the region, Garbe announced.

At the end of June 2022, the supply of modern retail space in the Czech Republic amounted to almost 3.97 million sqm. Shopping centres take about 67%, retail parks 31% and outlets the remaining 2% of the market. During the first six months of 2022, the retail park construction boom has not stopped yet and the retail market expanded by 19,500 sqm. Over the last five years, the share of retail parks has increased by 5%. The largest completed project in the first six months of this year was Shopping Centre Řepy in Prague. Another 52,300 sqm of retail space is currently under construction across 12 projects, of which 31,200 sqm is expected to be completed this year, says JLL in its retail market report for Q2 2022.