CPI Property Group reported first-quarter profit growth of 243 percent year-on-year to €381 million (roughly CZK 9.4 billion). It was able to do so thanks to its takeover of Austria's Immofinanz, which owns a number of commercial properties. CPI now owns 76.86 percent of the shares in this Austrian company. As a result, CPI is currently the Central European leader in real estate and is planning further expansion with the Austrian real estate company S Immo, where it now controls 42.6 per cent along with Immofinanz.

Geopolitical and economic challenges are not leaving the commercial real estate market unaffected. But how will these major global changes impact the Czech investment market in 2022? This is the question an expert panel, moderated by Mark Richardson (Colliers), at Prague Property Forum 2022 tried to answer.

According to Newmark Polska, Poland’s total warehouse and industrial stock surpassed the 25 million sqm mark, representing a 16.6% increase in the same period in 2021. New supply in the first three months of this year reached close to 1.3 million sqm, the best quarterly result in the history of the Polish market.

Slovak developer Corwin has announced that its office projects in Bratislava and Ljubljana will soon join the list of LEED Zero Carbon certified carbon neutral buildings of which there are only 8 in existence at the moment.

Actual sales prices of real estate in the Slovak Republic reached high growth at the beginning of the year, mainly due to rising sales prices of new houses and flats, the Statistical Office of the Slovak Republic announced.

Banks are happy to finance practically any new logistics project. But they are extremely cautious with the office and retail segments, not to mention hotel investments. Property Forum asked Tamás Deák, Director of Commercial Real Estate Finance at Erste Bank Hungary Zrt. about their financing practices amid the new, harsh economic conditions.

Riga-based hotel operator Mogotel announced its debut in Hungary via LinkedIn. With the cooperation of Accor and the financial support of state-owned development finance institution ALTUM, Mogotel is bringing Novotel Budapest Centrum into its hotel family.

Apartments in Cluj-Napoca have the biggest sale prices in Romania, with owners asking for an average of €2,240 per sqm in the first quarter, which was up 21% compared to the same period of last year, shows a report by Imobiliare.ro platform. 

French group Accor will open a new Mercure hotel in Alba Iulia in the second quarter of 2024. The new Mercure Alba Iulia Cetate hotel will feature 112 rooms and apartments and facilities such as a restaurant, SPA and conference room. 

Immofinanz has finalised the complete modernisation of the Myhive Haller Gardens office building in Budapest. The concept aims to allow tenants to use the community spaces for hosting guests, business meetings, and recreation in addition to their actual function. The reception areas and the gardens around the building are now available to tenants in a new concept and renewed form.