There is increased demand for all categories of property assets in Romania, with office and industrial set to continue their growth streak this year. Property Forum talked to Victor Constantinescu, Managing Partner of Kinstellar’s Bucharest office and Co-Head of the firm-wide Real Estate practice, about the impact of the pandemic on Romania’s real estate market and how the country’s property investment potential can be harnessed in the next years.

Wola Center, the office building in Warsaw acquired by the Hines European Value Fund (HEVF 1) in 2020, and subsequently managed by global real estate firm Hines, has received a BREEAM In-Use Excellent certification.

Construction of the new metro line in Prague is in sight. In the second week of March this year, the Ministry of Transport decided to reject the appeal of the opponents of the construction, who had originally appealed against the issuance of a building permit for the construction of the new metro line D. The Prague City Transport Company (DPP) is now waiting for the deadline for the decision to come into force. Then it can start the construction, the Czech Press Agency reported.

Hines, the global real estate firm, has acquired a portfolio of four logistics assets, spanning a total of 65,960 sqm, in Prague on behalf of its Hines European Core Fund (HECF), from CPI Property Group, for an undisclosed price, the company announced.

Romanian e-commerce player eMAG is investing in a new warehouse spanning more than 100,000 sqm near Budapest, which is the company’s first development of this kind outside the country. 

What exactly is the circular economy in real estate and why it is so important? Why do impact investments make a real difference? Monika A. Dębska-Pastakia, Founder and Managing Partner of PADMO Group and renowned real estate expert explains it for Property Forum in detail.

GTC has handed over the Pillar office building in Budapest which will almost fully be occupied by ExxonMobil. This BTS project was the biggest pre-lease ever (29,000 sqm) on the Hungarian office market.

Delivery firm Cargus has started operations last September in a warehouse covering 15,000 sqm in CTPark Bucharest that will accommodate fulfillment demand of e-commerce companies. 

Accolade Industrial Fund had a successful 2021. Its performance exceeded 20 percent last year, an all-time high. The fund's portfolio had grown to include more industrial parks, and the total leased area exceeded one million sqm. Over 2,200 investors have already invested in the fund. 

Panattoni is to open up a new warehouse market in Central Poland. The developer has purchased a site in Pabianice, where it plans to deliver a park with a total area of ​​95,000 sqm. The first building is to be completed this June and has already been leased by one of the leading electronic store chains in Poland. Panattoni Park Pabianice will be situated close to the S14 expressway, just 35 km from the junction of the A1 and A2 motorways, which means efficient distribution to markets across Poland. The three-building complex is to undergo BREEAM certification at the ‘Excellent’ level.