EPP, the largest asset manager of retail real estate in Poland, implemented a sustainable development strategy in 2021. The company aims to conduct its business in a responsible and transparent way while reducing its environmental impact and strengthening its social commitment. Following the strategy, EPP has set targets for the years 2022-2025 and is launching its first report, giving its ESG achievements to date the framework of GRI international reporting and EPRA standards.

YIT has started construction of the Happi Milánská project in Prague's Horní Měcholupy and has put 72 new Finnish-style apartments of up to 99 sqm on sale. The residential building with access to both the countryside and the city centre will also include three commercial spaces. The developer plans completion in spring 2024.

After the successful completion of the mandatory takeover offer of CPI Property Group on Immofinanz the Supervisory Board and the members of the Executive Board Dietmar Reindl and Stefan Schönauer mutually agreed today in relation to the Change of Control Event, that their contract as board members shall end on 8 June 2022. Dietmar Reindl and Stefan Schönauer will continue to work for the Company as advisors to the Executive and Supervisory Board until 31 December 2022.

The footfall in Czech regional shopping centres remained almost unchanged despite the previous years of the pandemic and all the lockdowns. The turnover and the average basket increased, and the vacancy is stable. However, due to the 18-week lockdown, the year 2021 fell behind 2019 by about 15%. The biggest concern now comes from the inflation and spending cuts reported by CBRE in its regular Shopping Centre Index analysis together with the results of two surveys on customer behaviour and expected plans of retailers.

Industrial developer CTP has started the construction of CTPark Oradea Cargo Terminal, the first industrial park with an air cargo terminal in Romania. The project is located close to Oradea Airport and the Eurobusiness II industrial park.

New office supply in regional cities in Poland hit a record high of 243,500 sqm in Q1 2022, representing an uplift of 5% on the previous peak in Q4 2019, reveals Savills. More new office space was delivered in the first three months of this year alone than in the whole of 2021.

Bratislava's Aupark shopping centre, owned by Wood & Company and Unibail-Rodamco-Westfield, is adding another step to improve its sustainable management. In addition to sorting, low-energy lighting and water conservation, it is now installing hundreds of photovoltaic panels on its roof. The owners are hoping to make significant savings in energy resources, most notably saving 100,000 cubic metres of natural gas per year, reports the online daily Reality.trend.sk.

Sylvie Geuten-Carpentier, Managing Director Poland and Tomas Cifra, Managing Director Romania, Czech Republic & Slovakia at Mitiska REIM talked to Property Forum about the trends driving the convenience retail market and shared some insight into the company’s investment strategy.

The Prague office market in Q1 2022 experienced a further increase in vacancy, across the entire city. However, gross take-up recorded a year-on-year increase of 44% and thus returned to pre-pandemic levels. The increase in prices throughout the city is still felt especially in construction projects, mainly due to rising costs for materials and construction work, reports the Czech branch of Colliers in their regular survey.

The Polish warehouse market remained stable in Q1 2022, with a slight decrease observed on the demand side with 1.56 million sqm leased (-2.5% y/y). On the supply side, developers completed over one million sqm (+44% y/y) projects. A record-breaking 4.9 million sqm remains under construction, with factors such as inflation and rising material and contractor prices driving rental rates up. Not without matter for the entire sector is the geopolitical situation behind Poland's south-eastern border, which may temporarily increase the demand of tenants relocating their business from Eastern Europe in the following quarters of the year. AXI IMMO presented the results of the Polish warehouse market in the period January - March 2022 in the report "Polish Warehouse Market in Q1 2022".