GTC announces that the company’s Supervisory Board has just appointed Pedja Petronijevic to the position of the Chief Development Officer and János Gárdai as the Chief Operations Officer.

US-based Mega Company has successfully secured a €20.6 million loan facility for Mega Distribution Center, a 45,000 sqm logistic park located in Bucharest. 

19 construction groups listed on the Warsaw Stock Exchange reported nominal revenue growth of 10% y-o-y over the past four quarters, which was driven by the continued hike in prices of labour and building materials. Also, the aggregate net profit posted by companies in this group improved substantially as it grew by PLN 1.3 billion over the year, though it was mostly due to one-off market developments. Notwithstanding that, the profit margin figures reported by the listed construction companies are still worse that results delivered by developers and suppliers of building materials and construction equipment.

Immofinanz has recently received takeover offers from both CPI Property Group and S Immo in the latest chapter of the Austrian takeover saga. During the last couple of years, the three major Austrian real estate companies – Immofinanz, CA Immo and S Immo – have received (and usually rejected) numerous takeover offers with mergers in almost every possible combination also having been discussed. To help its readers keep track, Property Forum has put together a timeline of all the offers that were announced since 2014.

Primavera Development and Griffes have announced the launch of the construction of the Muse office building, to be located close to Miorita Fountain, in one of the most reputed office areas in Bucharest. The area offers unrivalled road connectivity and accessibility on DN1, towards both the heart of the city and the airport outskirts but also the high prestige of a historical neighbourhood. The total investment will exceed €16 million and is scheduled to be delivered in 2023.

Responding to the extremely buoyant demand, Hungarian residential property developer Cordia is adding more than 300 new homes to its supply by the end of the year. This move will increase the number of new homes available in Budapest's 8th district by a third, while in the 1st district the company's development will essentially represent the entire new home supply. The company, a member of the Futureal Group, will have a record year this year, delivering around 50% more homes than last year and tripling the number of apartments sold.

JLL announced that Ben Rose has been appointed Head of Capital Markets for the Czech Republic. Ben takes over the role from Mike Atwell, who – after four years of heading up the Czech Republic and CEE capital markets team – returned to London to take up a senior position in the EMEA Industrial & Logistics investment team.

CTP, the largest developer and owner of industrial projects in Romania, will expand its CTPark Bucharest North project by 95,000 sqm.  

Local developer Haberl Real Estate announced a new residential project, Green Atrium in Bratislava’s Ružinov district. The project consists of 3 blocks and an inner block. It will provide 83 residential units, underground parking and up to 1,500 sqm of greenery located in the courtyard and on the roofs of buildings. Start of construction is expected to take place in Q3 2022, while completion is scheduled for 2025.

Property developer Speedwell has signed a new financing agreement with Banca Transilvania and received an €8 million loan for Phase 2 that is currently under construction and the future Phase 3 of the Triama Residence project in Bucharest.