Speedwell and Erste Group Bank signed a financing agreement of €27 million for the development of MIRO, a Class A office project the company is building in the northern part of Bucharest.

The key pandemic-related trends on the Polish office market of 2020 include the transformation of the way work we work and where we work. This prompted many occupiers to redefine their needs regarding the size of the office and the way the office is arranged. Equally important was ensuring workplace safety, also through new technological solutions. As a result of the pandemic and the lockdown measures, both development and leasing activity decreased slightly last year. Demand came mostly from new contracts and renewals. The AXI IMMO advisory firm summarises market conditions in 2020 and explores current office space trends in Poland.

GLP announced the development of a new 37,000 sqm logistics centre in Upper Silesia, Poland. The 37,000 sqm unit marks the first phase of development and is part of a scheme to develop over 110,000 sqm of warehouse space in Ledziny, each with direct access to the S1 expressway.

Accolade and Panattoni are continuing the extensive revitalization of a former settling reservoir in a sugar factory near Kojetín in the Olomouc region. The CZK 3 billion industrial complex, designed and constructed aligned with the latest trends in e-commerce and targeting future local and foreign tenants, will be completed by the end of the year 2022.

Due to the pandemic, the construction industry in Hungary last year registered a significant fall and the last quarter couldn’t save the year either. The latest EBI Construction Activity Report has found that Q4 2020, similarly to the low-value Q4 2019, saw the start of construction works at a value of HUF 442 billion. Owing to the massive drop in mid-2020, 15% less construction work started than in 2019 and 30% less than in 2018. In 2020 the Activity Start Indicator of the EBI Construction Activity Report accounted for less than HUF 2000 billion and the decline affected all major subsectors.

In 2020, total warehouse take-up hit close to 5 million sqm for the first time in history, representing a 24% increase year-on-year. New leases and expansions accounted for nearly 70% of that total, equating to approximately 3.45 million sqm. Cushman & Wakefield has summarised 2020 on the Polish industrial market.

CBRE has selected large plots of land suitable for industrial construction with a total area of ​​250,000 sqm in a strategic location right next to the D11 motorway near Hradec Králové and mediated their sale. In cooperation with Panattoni, a new logistics centre for a major retail player (also represented by CBRE) with an area of ​​50,000 sqm will soon be built here. Up to 900 jobs will be created in the region in the future.

Construction of a fully automated center located in the vicinity of Radzymin, a town near Warsaw, started in mid-January of this year. The project for Żabka Polska, the largest convenience store chain in Poland, is set to be completed in 2022. The project will include a “high bay” storage facility with a height of 40 m. 7R is responsible for the investment’s development.

Managed by Colliers and owned by AMASI Grundstücksgesellschaft mbH & Co. KG., the Warsaw office building Prosta Office Centre has been awarded a BREEAM certificate at Very Good level. The rating applies to both the Building Efficiency (Part 1) and the Management Efficiency (Part 2) parts of the certificate.

White Stone Development, a part of White Stone capital group has successfully placed its first unsecured bond issue worth PLN 11 million. Due to the demand exceeding the maximum bid, the reduction of subscriptions reached nearly 20%.