For Croatia, as for other EECFA countries, the Russian invasion of Ukraine has been both a supply shock and a demand shock. And many of the elements of these shocks are the same for Croatia as for other EECFA countries. On the supply side, energy costs are rising as are the costs of construction materials and of construction finance. Supply chains and labour markets have also been disrupted. On the demand side, inflation has cut into consumers’ real disposable income, consumer confidence has been shaken as a result and finance for real estate purchases has become more expensive, says Michael Glazer, SEE Regional Advisor at EECFA Croatia.

One of the most important factors for decision making in any business these days is understanding and complying with ESG standards. If a company wants to grow and be successful, it should follow the needs of customers and investors much more than ever before, said the experts of the ESG panel at Bratislava Property Forum 2022.

Three new Deputy CEOs have been appointed at Wing. In addition to his position as Director of Residential Developments, János Martin has been promoted to Deputy CEO of Wing, Director of Marketing Communications Csenge Mátray has fulfilled the role of Deputy CEO for Communications, HR and Corporate Operations, while Director of Transactions Bence Sass has been appointed Deputy CEO for International Business Development and Investments.

The building, developed by Belgian firm Codic and called HomeWork has recently reached its final structure. Apart from 15 luxury flats, a total of 3,600 sqm of office and retail space will be available. A restaurant and a cafe will also serve the needs of tenants.

The residential development market in the Czech Republic will be expanded by a new grouping of PPF and Karlín Group. Together, they will build residential projects in Holešovice and Libeň in Prague with a total investment value of CZK 4 billion, the company PPF announced. 

Griffin Capital Partners has announced two senior executive promotions as the company continues to grow its presence in the private equity and real estate markets in Central and Eastern Europe. Piotr Fijołek and Tomasz Mrowczyk, currently Senior Partners, have been promoted to the positions of Co-Managing Partners. The position is new in the structure and has been created especially to appreciate the contribution of the two managers to the growth of the company.

Sierra Balmain has been appointed by Stage Capital to provide property management and leasing services for three shopping centres in Poland: Galeria nad Jeziorem in Konin, Pasaż Łódzki in Łódź and CH Osowa in Gdańsk. The agreements include all aspects related to the management of each location, including, operational management, property-related finance matters, lease management, leasing and marketing. These three mandates add to a successful management partnership with Stage Capital, which already included Centrum Galardia in Starachowice.

Atrium European Real Estate, the owner of the Wars Sawa Junior buildings and the operator of Pasaż Wiecha, has appointed award-winning architectural design and engineering firm Foster + Partners to look into this central location in Warsaw. The practice experienced in large scale urban regeneration projects is to conceptualize the possible directions of use of this emblematic scheme, that would facilitate upgrading it into a future-proof part of the multifunctional city center. The partnership demonstrates a 2030+ vision to responsibly realign public realm with the New Center of Warsaw municipal masterplan and form meaningful pedestrian connections with anticipated Museum of Modern Art and Plac Centralny, Chmielna street and tourist city walk toward Nowy Świat and Old Town.

Most customers no longer visited shopping centres for traditional shopping purposes only, a non-representative survey conducted by Indotek Group revealed.

Speedwell's development pipeline in Romania has a strong focus on the residential segment but the company also aims to expand its SpacePlus industrial product across the country and CEE. Property Forum sat down with Didier Balcaen and Jan Demeyere, Co-Founders of Speedwell, at MIPIM, to talk about the financing environment and challenges related to inflation and the shortage of construction materials.