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.

MLP Group has just launched a project to expand the MLP Bucharest West logistics park. The new building of about 16,000 sqm, being developed on a speculative basis, is scheduled for completion by the year’s end.

Griffin Capital Partners is expanding its team of professionals. Klara Dyjas and Karol Podgórski have joined the investment department, both as Associate Investments, while Mikołaj Pilarski, Senior Financial Controller, and Joanna Glinka, Junior Financial Analyst, have joined the finance department.

CA Immo has successfully signed and closed the sale of the Serbian office complex Belgrade Office Park to a domestic investor. With two buildings and an underground car park, the complex comprises approx. 27,200 sqm of total lettable space. The building, which is located close to the city centre, was 97% let as of April 30, 2023, with annualized gross rental income of around €4.4 million.

Andreea Păun, Managing Partner of Griffes, spoke with Property Forum about the outlook of rents and new office developments in Bucharest as well as the demand trends. This year, Griffes aims to close 10% more leasing deals with a combined value of more than €20 million.

UDI Group is adding another project to its portfolio. It will build a suburban retail centre in the village of Líbeznice north of Prague. According to the developer, a similar centre with a supermarket and several smaller retail units at one address with quality parking facilities is still missing in this village of 3,000 inhabitants. UDI Group estimates the investment at CZK 100 million (€4.2 million).

Bulgaria, with its growing economy and increasing consumer spending, has witnessed a recent surge in the construction of retail parks across the country. A total of 13 projects are under active construction and another 9 are at different stages of planning. The outlook for the retail park market in Bulgaria over the next year is positive, according to the latest report by Colliers.