Inflation and the energy crises have not influenced the Czech industrial real estate market yet as the market broke two historical records in the period of Q3 2022. More than half a million sqm of new industrial space was completed and the vacancy rate fell below 1% for the first time in recorded history, says the newest JLL report.

Demand for logistics and industrial space is close to registering a new record in 2022 as the vacancy rate reached 4.3% at the end of Q3, which is one of the lowest levels in the last decade, according to real estate consultancy Cushman & Wakefield Echinox. 

Błażej Czwarnok and Marcin Muszel, Partners in the Real Estate Practice at Gide Loyrette Nouel spoke with Property Forum about the PRS market, economic turbulence caused by the war in Ukraine and legislative changes coming to the Polish real estate sector.

Pavăl Holding, the investment vehicle of the Pavăl family, has purchased first phase of the U•Center office project in the Tineretului area of Bucharest from Romanian developer Forte Partners for an undisclosed sum. 

Romanian developer One United Properties has obtained the building permit for One Floreasca Towers, which will be built on a plot of land of 5,600 sqm, located in the Promenada Mall business area in Bucharest.

Romanian property company Metav will invest more than €40 million in the development of a new residential project with 164 units in Bucharest. 

Penta Real Estate secured one of the largest office contracts in the Czech Republic in Q3 2022. Fio banka's headquarters will move to the Masaryčka office complex, designed by London-based architectural studio Zaha Hadid, in spring 2024, Seznamzprávy.cz reports.

Around 500 colleagues based in Hungary’s second-biggest city will move to the new location, state-of-the-art Forest Offices in 2023.

Piotr Szafarz, Partner, Head of Real Estate in Poland and CEE, Dentons talked to Property Forum about the forecasts for the PRS market in Poland, the impact of the war in Ukraine on the European properties and the expected changes in financing conditions.

As of November this year, Multi Corporation has been appointed the new property and asset manager for the shopping centre Central in Bratislava, the company announced.