At CEE Property Forum 2025, a panel of senior real estate leaders examined how investors can build resilience in a rapidly changing market. Moderated by Clare Sheils, Managing Director of CBRE in the Czech Republic, the discussion explored how ESG, technology, shifting customer expectations and evolving legal frameworks are redefining what it takes to maintain strong, future-proof portfolios in the region.
Angelina Nekić, CEO of Delta Real Estate, emphasised the importance of portfolio diversification and integrating new projects with existing assets. Reflecting on Delta’s acquisition and rejuvenation of the Sava Center in Serbia, she explained, “Building resilience in our context has always meant acquiring assets that can evolve with market demands while ensuring every addition enhances our overall portfolio strategy. By investing more than thirty million euros in a single landmark and embedding ESG features, we have turned uncertainty into a sustainable and profitable future for both our company and the community.”
Representing the consulting sector, Charles Boudet, CEO of iO Partners, described the necessity for investors to stay grounded in market realities, especially in the post-COVID environment. “Resilience today is about rigorously adapting to changes, be it shifting financing costs or geopolitical disruptions,” stated Boudet. “Our task is to build portfolios close to the end user and remain versatile so that assets can withstand swift changes. The companies that encourage decentralised, open cultures—allowing innovation and data to drive decisions—are those best positioned to succeed.”
Martin Makovec, Managing Director of M&A for Central Europe at Unibail-Rodamco-Westfield, shared insights on customer-centric retail strategy and responsive investment. “Resilience, particularly in the retail business, means actively listening to evolving customer needs and forming deeper partnerships with tenants,” he said. “Because today’s most successful shopping centres are those that not only expand their offering—such as with food courts and leisure elements—but also embed ESG considerations, transforming the customer experience and sustainability.”
Raul Garcia Rodriguez, CEE Lead for Transformation, Value & Growth at Colliers, brought a perspective focused on innovation and adaptability. “True resilience lies in the ability to transform portfolios in response to emerging risks and technological advances,” he argued. “Our industry must constantly reassess risks, adopt efficient technologies, and ensure that every change, whether financial or non-financial, is underpinned by a clear drive toward sustainable value and resource optimisation.”
Legal resilience was highlighted by Michał Mieciński, Partner at CMS Poland, who urged the audience not to overlook the foundational role of contracts and risk allocation. “Legal resilience is often viewed as the final hurdle, but enforceable, well-crafted contracts make ambitious strategies and risk-taking possible in the first place,” Mieciński explained. “Negotiating mechanisms for joint ventures, cash calls, and risk allocation is essential to ensure long-term portfolio health—especially when market relationships are tested.”
Concluding, Marek Noetzel, COO of NEPI Rockcastle, encouraged boldness while maintaining a forward-looking strategy. “We must be brave, focus unwaveringly on quality, and always think long term,” Noetzel concluded. “Testing, succeeding, scaling, and repeating is the only way to turn resilience into a competitive edge—because ultimately, it is those who dare to innovate and invest with conviction who will lead the market.”
