European real estate investment activity is set to plummet by 50% before rebounding sharply within the next 12 months, according to Savills, who predicts that neither the speed or the depth of the crash will be as bad as the global financial crisis when volumes across the continent plunged by 72% between 2007-2009.

According to a study conducted by research body Inquiry for the Polish Council of Shopping Centres (PRCH), 51% of those surveyed visited shopping centres in the first week after they reopened following the easing of the lockdown measures. Out of these, 64% visited shopping centres to make specific purchases, while 31% went to browse the stores or to seek out promotions.

Czech real estate developer Kaprain Group, owned by businessman Karel Pražák, has launched the construction of the 30,000 sqm Kaprain Harfa Business Center office project next to Prague’s O2 Arena, local daily E15 reports.

CA Immo presented its results for the first quarter of 2020. The company registered solid growth in rental income (+7.2% year-on-year) and although the negative revaluation result reflects the exceptional economic situation now prevailing, other positive earnings contributions made up for this.

Nine shopping centre owners in Romania, together with CBRE, have urged the Romanian Government to reopen large shopping centres as soon as possible.

Panattoni has introduced a new façade standard at its parks. The new façade features predominantly aluminium and glass, with a new colour scheme and larger green areas. The makeover is part of the company’s sustainable development approach, which includes reducing CO2 emissions, employee well-being, environmental stewardship, as well as BREEAM certification of newly built facilities with a Very Good rating.

The stock of industrial and logistics space in Bucharest has doubled between 2015 and 2020 with the capital of Romania being the most dynamic market in the Central and Eastern European region and a logistic regional hub throughout the analyzed period, according to Cushman & Wakefield Echinox.

Ghelamco Poland has introduced special solutions to its office buildings to prepare them for an epidemic which will become a standard in the company’s future projects. A new approach to HVAC systems will enable the buildings to operate in the so-called pandemic mode.

The COVID-19 pandemic caused chaos across the global economy. Within the commercial real estate market, logistics has weathered this storm better than other sectors, allowing planning of new developments to gradually resume following price corrections. Changes in financing conditions for real estate development may alter the new supply structure, with a likely increase in demand for BTO (build to own) and BTS (build to suit) development projects and a decline in speculative schemes, according to advisory firm Axi Immo.

Savills has been appointed property manager of Posejdon, a €78 million (PLN 350 million) office, conference and hotel complex in Szczecin. The building is entering an operational phase, with more office tenants moving in and the first retail stores now open. The opening of two hotels (four- and three-star hotels) is scheduled for the second half of 2020.