Another Prague brownfield will be turned into a residential project. Development group Crestyl will be building on the site of the former Waltrovka in Prague's Radlice district. The plan is to build a total of 170 flats for CZK 1.5 billion (almost €61 million) on the land, which the company bought with a zoning permit from the Red Group at the turn of this year. Preliminary construction work on the Semerínka project should start at the turn of the year and the entire project is scheduled to be completed within three years.

CTP has started the development of a new industrial project in Arad with a leasable area of around 100,000 sqm. CTPark Arad West will be the third project owned by CTP in the city. 

The Slatina Shopping Park, located in Southern Romania, has reached a total commercial area of 8,700 sqm following an extension completed by Square 7 Properties and Mitiska REIM investment fund. 

In H1 2022, GTC’s net profit amounted to €41 million in H1 2022 (compared to €21 million in H1 2021). This mainly resulted from a strong operating performance combined with profit from revaluation/impairment of assets and lower finance cost, partially offset by an increase in foreign exchange differences loss.

The first Radisson Red property in Poland is now welcoming guests. Radisson Red Gdańsk is part of the redevelopment of Granary Island in the center of the Pomeranian capital on the Baltic Sea. With this new opening, Radisson Hotel Group’s portfolio in Poland has grown to 22 properties in operation and under development.

Developer Panattoni is going to build a new large hall for 700 workers of the automotive industry in the Panattoni Park Pilsen West II. The hall will be custom-made for the American company Shape Corporation and the hall should be finished in the first half of 2023, says Colliers who negotiated the deal that was one of the largest in the first half of this year. 

Existing income-producing assets with a reasonable capital value per sqm and strong tenants will be a winner for many investors in the upcoming period. Avison Young has published its CEE property investment market report for H1 2022.

The Japanese apparel brand is preparing to open its first pop-up store in Poland – in Domy Towarowe Wars Sawa Junior in the centre of Warsaw. The two-storey store in one of the most popular shopping destinations in central Warsaw is set to open this autumn.

Due to the growing interest of companies in locating their business in the Central and Eastern European region, Colliers has launched a new business line within its Strategic Advisory department – Business Consulting, which will cover the entire CEE market. Jan Kamoji-Czapiński, an expert with long-term experience in strategic consulting for foreign companies, who has been supporting Colliers' clients in the EMEA region for the last year, will be responsible for its development.

According to a report prepared by Newmark Polska, at the end of the second quarter of 2022, Poland’s total warehouse and industrial stock amounted to over 26.1 million sqm, representing a 19.5% increase on the same period in 2021. New supply in the first half of the year surpassed 2.4 million sqm, of which close to 53% was delivered in the first three months, marking the best quarterly result in the history of the Polish market.