Retail which continues to evolve in response to changing consumer preferences and expectations has once again to adapt to the new reality quickly. The global pandemic has left many stores and restaurants shuttered. Industry forecasts that a number of brands will permanently close this year. Every day brings a set of new challenges as we navigate this unexpected crisis. How are the unprecedented challenges of the global pandemic impacting retail? Cushman & Wakefield Poland tried to answer this question in its latest report.

The current state of the Serbian, Croatian and Slovenian property markets was the topic of our latest online panel. The adaption of new technologies, especially in the retail and hotel sectors, is crucial to handle the shock of the coronavirus lockdowns. Five experts, with the moderation Mia Zecevic, CEO of the Novaston Real Estate Platform, shared their knowledge on the implications of the current crisis in the Balkans region.

Romanian real estate developer One United Properties has sold 30% of its One Floreasca Tower office building, currently under construction in Bucharest, with the aim of raising the capital necessary to complete the works, zf.ro reports.

Starting April 2020, Colliers International has taken over the management of two new buildings in the High5ive office complex in Kraków.

At the end of the Q1 2020, the total supply of modern warehouse space in Poland exceeded the level of 19 million sqm. The Warsaw market (three zones) maintained its leading position and accounted for nearly 23% of the total supply in the country (4.3 million sqm), Colliers International reports.

In the Serbian economy, the construction industry has been one of the sectors least affected by COVID-19, with only smaller decrease recorded in production volumes and logistical capacity. The Eastern European Construction Forecasting Association has published a COVID-19 update on the construction sector of Serbia.

COVID-19’s direct impact on ongoing construction activity in Romania has been minimal since no restrictions were in place specifically targeting construction works. Several indirect factors, however, are expected to limit the amount of construction activity. The Eastern European Construction Forecasting Association has published a COVID-19 update on the construction sector of Romania.

The strong fundamentals of Warsaw’s office sector, coupled with no risk of oversupply and low vacancy rates, should enable the market to regain equilibrium relatively quickly after the slowdown. Cushman & Wakefield summarised Q1 2020 on the Warsaw office market.

Starting this month, Banca Comercială Română (BCR) has relocated its headquarters to the Business Garden Bucharest office building, developed by Vastint, the real estate division of Ikea.

Panattoni has allocated PLN 500,000 (around €110,000) to buy medical supplies for three hospitals. Institutions in Poznań, Białystok and Szczecin were chosen in consultation with the Ministry of Health. As part of the aid, the developer will provide medical masks, nitrile gloves, non-contact thermometers and packs of medical caps.