Polish company Scallier will open its second retail park in Romania on November 11 as part of its expansion strategy on the local market.

Globe Trade Centre promoted Ede Gulyás to the position of County Manager, Hungary. He will take over the operations of GTC in the local market end-to-end, following the resignation of Robert Snow, a former member of the Management Board and Country Manager in Hungary.

Since the start of 2021, around 189,000 sqm of offices were leased on the Bucharest market, of which 70% were for spaces in buildings with green certifications, according to real estate consultancy CBRE Romania. 

Investment transactions in Romania exceeded €540 million in the first nine months of 2021, with around half being closed only in the third quarter, according to property consultancy Colliers Romania. 

Panattoni is completing another development for the automotive industry in Bielsko-Biała. As part of Panattoni Park Bielsko-Biała IV, the developer is to deliver a BTS production centre with an area of 33,200 sqm to the Italian-based Cornaglia Group – a producer of components for the automotive industry, as well as construction and farm equipment and other machinery. The building is to be completed in January 2022.

With the recent completion of the third phase of the Tchibo distribution centre in Panattoni Park Cheb, adding approximately 30,000 sqm, the hall, totalling over 100,000 sqm, has become the largest industrial building completed this year in the Czech Republic. Panattoni as a developer completed the project together with investment group Accolade. Since the first phase of construction in 2016, the tenant has been Tchibo, one of the world's most important coffee producers and consumer goods retailers. The new part of the site aspires to a high BREEAM New Construction environmental certification rating of "Excellent". 

Patron Capital, the pan-European institutional investor focused on property-backed investments, and Trei Real Estate, an international developer and asset holder for residential and retail real estate, have formed a new 75:25 joint venture to develop and hold retail parks in Poland under the Vendo Park brand.

The performance of sectors relevant to the commercial real estate market improved in the second quarter of 2021, while the positive impact of growth on the real estate market fell short of that observed in previous cycles, partly due to the direct impact of the pandemic (lasting drop in tourism) and partly to uncertainties resulting from the trends accelerated by the pandemic (penetration of home office and e-commerce), the National Bank of Hungary (MNB) said in its latest Commercial Real Estate Market Report. In addition to an overview of the office, warehouse, hotel and retail markets, the report also reveals that the ratio of domestic investors in all property deals was nearly 80%, even higher than in the especially active year of 2019.

Real estate group Duna House has released its monthly Transaction Estimate and mortgage forecast, showing that there were 11,526 residential property transactions in Hungary in October 2021, down 2.4% over September, and also below the October prints of the previous years. This marks a downturn after a pickup in August and September, but the number of transactions is still expected to exceed 150,000 in 2021.

Asking prices of apartments in Romania rose by 10.3% in the first nine months of 2021 compared to the same period of last year, with Bucharest and Cluj-Napoca remaining the most expensive markets for home buyers, according to a report by Imobiliare.ro portal.