In 2020, we saw a significant shift in the perception of warehouses and the role they play in the economy. Investors now see them as highly valuable assets. Tomasz Lubowiecki, President of the Board at Polish logistics developer 7R talked to Property Forum about prosperity on the warehouse market, last mile logistics and difficulties around nearshoring.

CTP has acquired 17.9 hectares of land in northern Bucharest for an undisclosed sum. The land was bought from two businessmen who were planning to invest €50 million in a logistics project. 

Online retailer eMAG will invest €1.5 million in upgrading its HQ building to accommodate the hybrid work system as it aims to make the program permanent for more than 3,000 employees. The HQ will be transformed into a collaborative workspace and will be fitted with technology systems that support the mix of office and remote work.  

Real estate developer One United Properties says that it secured the construction permit for 850 apartments that will be part of mixed-used project One Cotroceni Park. The project is developed on 5.8 hectares of land, on the former Ventilatorul industrial platform in Bucharest. 

Just one month ago, we reported that February 2021 had been the strongest month for the past ten years with regard to the number of transactions in the Hungarian housing market. It now appears that the record was short-lived as there were 15,630 residential property deals nationwide in March according to the latest monthly transaction estimate of real estate group Duna House. The figure is more than 1,000 higher than in February.

Retailer Penny, controlled by German group REWE, will install photovoltaic (PV) panels on the roof of its warehouses in Romania. The renewable energy systems will be implemented in Turda and Ștefănești.  

German carmaker Mercedes-Benz is boosting its logistics operations in Romania. Construction firm Plana-Innova was selected to build its new centre that will have a maximum storage capacity for 45,000 products. 

Romanian entrepreneur Liviu Tudor has announced plans to revamp Novo Park, the office park he owns in northern Bucharest. The office facades will be refreshed and solar panels will be placed on top of each of the seven buildings in the complex. 

Polish developer Cavatina Holding, which has been active in the regional cities of Poland, has recently announced plans to go public. Rafał Malarz, CEO of the company talked to Property Forum about investing in large mixed-use projects, the future of the PRS sector in Poland, possible changes in the retail and office markets and shared some details about the upcoming IPO.

CBRE has been mandated to manage the industrial portfolio of Cromwell European Real Estate Trust (CEREIT) in the Czech Republic and Slovakia.