In response to growing demand for logistics space on the domestic market, ConvergenCE has prepared a ready-made product in Tárnok, Hungary where the construction of an 8,000 sqm logistics hall can be started immediately.

The COVID-19 pandemic did not affect real estate transactions in Romania. During 2020, a total of 602,805 properties were traded, 62,625 more than in 2019, according to the Romanian National Agency for Cadastre and Land Registration (ANCPI). 

Liviu Tudor, the Romanian investor who owns the most office space in Bucharest through Genesis Property, bought a former factory for which he paid €3 million, Ziarul Financiar reports citing market sources.

The third fund of Czech investor Arete Group has acquired a modern, highly specialized production facility with a research and development centre and with the potential for further development in Kežmarok, Slovakia. The value of the investment exceeded €10 million.

Panattoni is completing the first stage of construction work on a distribution warehouse for OTCF S.A. The BTS centre in Czeladź is to eventually have an area of 67,000 sqm. The first stage of the construction work is to be completed in February 2021.

Immofinanz has received a building permit for the newest planned project under the Stop Shop brand in Zielona Góra. The beginning of construction works is planned in the nearest future and the completion of the new Stop Shop Zielona Góra retail park is scheduled for the turn of 2021/2022.  

Mark E. Rose, Chair and CEO of Avison Young announced a strategic affiliation with real estate advisory and asset management group Limehouse, which will now operate its advisory services in Hungary under the Avison Young brand, while carrying on its asset management activity in parallel as Limehouse Partners.

CBRE Czech Republic has taken over the property management of the Novo Plaza shopping centre in Prague, starting 1 January 2021. The property offers 27,500 sqm of space, comprising a retail centre with a GLA of 21,500 sqm including retail, office, storage and support areas and a hypermarket with a GLA of 6,000 sqm, anchored by Tesco. The shopping centre has 710 underground and 140 surface-level parking spaces.

10,354 residential property deals were closed in Hungary in December 2020, according to the latest monthly transaction estimate by real estate group Duna House. This marks a 2% growth over December 2019. 131,460 transactions were closed in total last year, marking a 12% year-on-year decline.

At 230 metres full roof height Varso Tower is now officially the tallest building in Poland. Works continue at the top of the building where a 80-metre tall spire is to be assembled in upcoming weeks. Upon its completion, Varso Tower - developed by HB Reavis - will be the tallest building in the European Union with its architectural height of 310 metres. The construction is set to complete in Q1 2022.