The European construction industry will be hit hard by the COVID-19 crisis, according to Euroconstruct's latest forecast for 19 European member states.

The Supervisory Board of Immofinanz extended the Executive Board appointments for COO Dietmar Reindl and CFO Stefan Schönauer for a period of five years as of 1 May 2021, i.e. to 30 April 2026. The composition of the Executive Board remains unchanged with Ronny Pecik (CEO), Dietmar Reindl (COO) and Stefan Schönauer (CFO).

Warehouse occupancy costs are a broad concept that can be interpreted in many ways. The key components include rent and service charges. Utility charges billed according to individual consumption constitute a variable component. And on top of that, there are the costs of labour, logistics, supply chains and use costs of space itself. Tenants frequently forget that rent paid to the landlord is not the only cost of doing business in a warehouse facility. “A service charge is the maintenance cost of a facility that is often part of a larger industrial park - it is reinvoiced to individual tenants by the landlord. Its key component is the property tax levied on the landlord and determined by local municipalities,” says Daniel Kempa, Associate, Industrial & Logistics, Cushman & Wakefield.

The two months of isolation and the situation still fragile regarding the danger of infection with the Covid-19 virus will mark their way into the consumption behavior of Romanians, as they will be tempted to choose more outdoor activities and spending their holidays in Romania, according to a study conducted by the real estate consulting company Cushman & Wakefield Echinox and the research company MKOR Consulting.

Developer MPC Properties has opened the Ušće Tower Two office building in Belgrade. The 22-storey building offers 23,200 sqm of leasable space. The developer will be seeking BREEAM certification for the property that is located in New Belgrade’s central business district.

Panattoni is launching the construction of close to 15,000 sqm for Phoenix Contact E-Mobility. The BTS facility will be delivered at the Rzeszów-Dworzysko Science and Technology Park, which will promote the tenant’s collaboration with research centres and ensure good access to qualified staff. The building will be commissioned in late 2020/early 2021 and will offer space for 330 employees.

Lithuanian group Apex Alliance Hotel Management plans to open the new Moxy Bucharest Old Town hotel on July 20. The total investment cost of the hotel equals €12.5 million.

Vantage Development is expanding its operations to other Polish cities. At the turn of the year, the company acquired 4 properties in Poznań, and last week it won a tender for the purchase of a plot in Łódź.

P3 has signed a lease agreement with InPost for 10,882 sqm in the P3 Piotrków park. The modern warehouse and office space will be used for logistic processes within services offered by InPost Fulfillment, an operator for e-commerce companies.

GTC Bulgaria has informed that the varied tenant portfolio of Advance Business Center II will be enriched by Commerzbank. One of the largest German banks will lease over 3,500 sqm GLA of office space starting 1st December 2020. The pre-leasing agreement was consulted by CBRE. Advance Business Center II is under construction phase and due for delivery in Q4 2020.