The Czech Social Democratic Party (ČSSD) has agreed to sell the Lannův palác in the centre of Prague to the building's main tenant, local real estate developer Finep, for CZK 201 million. The party wants to use the proceeds to pay off its debts, novinky.cz reports.

Panattoni has started construction of a speculative 17,300 sqm last-mile logistics warehouse project in Törökbálint, about 12 kilometres from Budapest's city centre. The launch of Panattoni Park Budapest City West follows the company’s market debut in Hungary in 2021 with the acquisition of two land sites totalling 100,000 sqm near the capital.

Costin Nistor, Managing Director of Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance, detailed for Property Forum the real estate consultancy’s development plans for this year, also talking about the segments that will propel the investment market to over €1 billion in 2022.

The structure of Wing's Liberty office building has been completed on schedule, bringing the project one step closer to completion in 2023. Located on Könyves Kálmán körút in District 9, the multifunctional office building will host a dual-branded ibis-Tribe hotel after its completion.

As many as 15 new brands arrived on the Czech retail market in the first six months of this year. Compared with the first halves of the past few years, this is the highest number since 2018, when multiple newcomers were attracted as a result of an outlet centre opening near Prague’s airport. The number of newly arriving brands in the second half of the year has been traditionally higher than in the first half, mainly as a result of the Christmas season. In effect, the number of newcomers this year can be expected to be similar to last year’s 38.

From mid-July this year, Dmitry Gavrylenko will join JLL Poland. As Head of Capital Markets Poland, he will be responsible for strengthening the company's offer in the area of capital markets. Dmitry was already associated with JLL, having managed the company's Ukrainian office from 2016 to 2019.

The HelloParks Fót warehouse project developed by Hungarian firm Futureal Group will consist of several buildings on the northern outskirts of Budapest. More than fifty percent of the first, already-open phase is now leased. 

GTC Bulgaria is welcoming a new tenant on board – fast-growing software company Gtmhub, which will lease 1,700 sqm in Advance Business Centre I. Moreover, one of GTC’s anchor tenants extended the lease in Mall of Sofia Tower for another five years.

Industrial developer CTP will expand its project in Craiova with a new warehouse of 13,500 sqm that has been fully leased. Following the new investment slated for completion by the end of 2022, the total leasable surface will climb to 53,500 sqm.

Monia Dobrescu, Partner, Mușat & Asociații spoke to Property Forum about the financing environment for the real estate sector in the context of the crisis in Ukraine and the law firm’s development plans for this year. The uniform application of the regulatory acts in the field is an issue that has an impact on players in the real estate market, and progress is being made in this area, Monia adds.