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.

Generation Park Y, Skanska's highest office project in the CEE region, reached the target height of 140 metres. The building will offer 47,000 sqm GLA with completion planned for Q1 2021.

As of May 1, 2020, Dr. Mihály Schrancz, former Development Director of Property Market Ingatlanfejlesztő Kft. has been appointed Managing Director of the company. The company's Financing and Investment Director, Dr. Bence Nádasdy, will hold the position of Managing Director at Property Market’s asset management company, Kopaszi Gát Kft.