Monica Dudău, Marketing Manager, Storia.ro & OLX Imobiliare spoke to Property Forum about the development plans of the two digital platforms dedicated to real estate professionals and the role of technology in streamlining sales in the local residential sector.

The Ritz-Carlton luxury hotel, which is to be built in the heart of Prague after the renovation of eight historic buildings, and was delayed is now moving forward again. The long-planned construction of a five-star hotel was supposed to be completed last year, but the new completion date is now set for 2025 at the earliest. The reconstruction will also include 26 apartments for long-term rent, writes E15.cz.

Mitiska REIM has announced on behalf of the MEREP 3 fund the acquisition of a retail park in the Slovakian city of Skalica and the development of a new retail park in Sládkovičovo. In a new joint venture partnership with OPC Group, Mitiska REIM plans to expand its retail park portfolio in Slovakia in the coming years. 

Prague is the second most attractive market in CEE for hotel operators with a presence or interest in the region. Its popularity is backed up by H1 2023 being a period of healthy recovery for Prague hotels which achieved the second highest (after Budapest) RevPAR (revenue per available room) among the region’s capitals. In this year’s first six months, it reached €69, which is an increase of 57 percent versus H1 2022, and already a 5 percent increase versus the pre-Covid H1 2019. This was primarily driven by the strong ADR (average daily rate) growth, which surpassed 2019 levels by over 20 percent. Hotel operators are optimistic about the industry’s outlook and keen to expand across the CEE region. However, 28 percent of planned hotel projects in the region are facing delays or put on hold, mainly due to the increased development costs, reports Cushman & Wakefield in the Hotel Operator Beat survey.

Equity strong private investors have become active due to the most attractive yields seen in years, although the overall investment volumes have continued to fall in Q2 2023, while hotels remain a strong asset, according to a report of Arnold Investments. 

The Polish Chamber of Commercial Real Estate (PINK) has published figures summarizing the warehouse market in Poland for Q2 2023. The data is sourced from advisory companies from the commercial real estate sector (Axi Immo, BNP Paribas Real Estate, CBRE, Colliers, Cushman & Wakefield, Knight Frank, Newmark Polska, Savills) and includes information on modern warehouse stock, new completions, space under construction, take-up and vacancy levels.

Bucharest is the fifth most attractive market out of 20 cities in CEE-12 in terms of the interest of the main operators to invest in new hotel facilities in the next period, while the results of hotel operators in the Romanian capital reaching pre-pandemic rates, according to a survey by Cushman & Wakefield Echinox. 

Since the beginning of the full-scale invasion, Kyiv’s primary residential market has stalled for some time with the number of transactions in 2022 significantly decreasing. In 2023, however, most developers are observing positive trends and slow but steady growth. Iryna Nastych summarised the situation in an article prepared by the Ukrainian Real Estate Club for Property Forum.

Industrial developer Panattoni has obtained bank financing to start the construction of City Logistics Warsaw IX in Targówek, which is one of its urban parks in Warsaw. The company got €10.5 million from Bank Gospodarstwa Krajowego for the new development. 

Eden Retail Park, owned by Focus Estate Fund, has achieved full occupancy. The retail project based in Zgorzelec, near the German border, has attracted a mix of 10 stores.