Radisson Hotel Group has announced a €24 million investment program in Radisson Blu Bucharest Hotel, owned by Revetas Capital and Cerberus Capital Management, that will include the redesign of common spaces and the increase of the room count. 

Hungary's construction output in March was 11.5% higher than in the previous month, the Central Statistical Office (KSH) said on Thursday. Hungary’s construction industry has corrected the February slump and the rising trend remained unbroken, but the pre-crisis peaks are still some way off.

Retailer Penny, part of Rewe Group, has announced a long-term investment program in Romania that includes the expansion of the store network and the development of logistics operations. 

Hungarian state-owned NIPÜF Group has completed another sales transaction with the sale of a nearly 3 ha plot in the Inpark Martonvásár industrial park, located southwest of Budapest. A Hungarian chemical company will build a 4,000 sqm production hall on the property by 2022.

Romanian Impact Developer & Contractor said it has secured two bank loans worth more than €13 million from Libra Bank to start new investments in the Greenfield residential project, located in northern Bucharest. 

GTC’s rental and service revenues decreased by €3.8 million to €37 million in Q1 2021 from €41 million in Q1 2020. Profit before tax and fair value adjustments for Q1 2021 reached €15 million, up from €13 million in Q1 2020. The company published its financial results for Q1 2021.

Shopping centre footfall in February in Poland, prior to the fourth lockdown, averaged approximately 80% of last year’s levels. Shoppers will return to shopping centres once restrictions are lifted, say experts of Cushman & Wakefield.

According to “Occupier Insight – Industrial and Warehouse Market Q1 2021”, a report prepared by Cresa, gross industrial and warehouse take-up climbed to 1.6 million sqm in the first quarter of this year, representing an increase of 51% compared to the first three months of last year. This result accounts for 46% of the annual average for the last five years and marks a record quarter in terms of leasing activity.

VGP has launched construction of the fifth hall in its logistic park VGP Park Pilsen, located in an industrial part of the city’s Bručná quarter. The park is adjacent to the E49 and has access to the D5 motorway. On a land of about 10 hectares, VGP offers nearly 50,000 sqm of lettable area suitable for light manufacturing, logistics and accompanying commercial activities. Tenants of the new warehouse will be DHL Express, leasing 1,113 sqm, as well as Verhoek Europe with 2,170 sqm of logistics space.

The latest EBI Construction Activity Report has found that the stagnation of the total value of started construction works has not stopped. Between January and March 2021, construction works in the sector started on HUF 421 billion. This, although not greatly different from the values seen in the previous three quarters, is still the lowest Activity Start indicator of the last two years. Compared to the January-March periods of the previous two years, 2021 started clearly weaker: against the positive Q1 2020, the decline was about 35%, but even over the same period in 2019, there is a 15% decrease.