Real estate developer Speedwell says it has refinanced a loan granted by BRD Société Générale after the completion of Cluj-based Record Park Offices. 

The growth potential of the Polish construction market will remain significant through 2026 on the back of the continuation of ambitious road and railway infrastructure projects, the required power transformation of the Polish economy and the steadily robust performance of the residential construction sector. A vast majority of projects underway or planned to implemented are located in the six most economically advanced regions, which jointly account for two-thirds of the construction market’s value.

Following their reopening in May, shopping centres have seen both their revenue and footfall increase to a rate exceeding the performance during the same period last year. The footfall was lower than in the pre-crisis year 2019, but the revenue was comparable; in fact, it was slightly higher. Supermarkets and hypermarkets fare the best in terms of revenue; electronics and health and beauty products are also doing well. The current performance of shopping centres can therefore be described as very strong, with figures exceeding initial expectations, and investors show renewed interest in properties again, with several major retail transactions being planned for this year and the next. To date, office and logistics properties have been selling the best this year.

Trei Real Estate GmbH will be opening its 26th retail park under the Vendo Park brand in Poland. It is located in Oswiecim, a small town of around 40,000 residents in the Lesser Poland Voivodeship in southern Poland. This latest Vendo Park has a leasing area of around 5,300 square metres and is leased to seven retailers and a supermarket. In total, Trei invested c. €7.2 million in the property. The new retail park is the first in the Lesser Poland Voivodeship.

Will Robson, Executive Director and Global Head of Real Estate Solutions Research at MSCI, talked to Property Forum about the assessment of environmental, social and governance (ESG) indicators in commercial real estate and its emerging role in the risk management of organizations.

Zeitraum, an international operator of student housing schemes, has just taken over the management of its first dormitory in Poland as Zeitgeist Asset Management, an investor operating on the Polish market for several years, finalised the purchase of a privately-run student hall located in Kraków from NNS. The asset is located at 33 Koszykarska Street and has been operating under the Unibase brand for three years. It can accommodate 345 people in 157 rooms. The first students will move into the building in September. JLL experts supported the investor in the purchase of the asset.

A lack of materials and an increase in the price of construction work is troubling the industrial real estate market in the Czech Republic. Industrial space in desirable locations is in short supply. Occupancy rates in Prague and the close surroundings are rising and vacancy rates have almost reached zero. Tenants are well aware of the situation and it has become more common for them to extend their lease contracts for longer periods, according to 108 Agency’s market summary.

According to Colliers, CEE markets continue to feel some impact on transactional activity with flow volumes down ca. 22% year-on-year. Poland captured more than half of all invested capital in the first half of the year. Colliers estimates for 2021 that year-end volumes will remain between €10-11 billion.

The pandemic had a limited impact on the turnover of retail parks compared to shopping malls in Romania, according to real estate consultancy Cushman & Wakefield Echinox. 

Total take-up on the Bratislava office market reached 37,000 sqm which represents a year-on-year increase of 19.5%. As the pandemic slowed down, retail leasing activity also returned and with it the surge in footfall and turnovers. Total quarterly industrial/logistics take-up recorded a strong 22% year-on-year growth, reaching 146,300 sqm. Cushman & Wakefield published its Q2 2021 industrial, office and retail market reports focused on the Slovak market.