The amendment to the Construction Law in Poland came into force on 19 September. Changes include a division of project documentation, organization of the provisions which specify what works require a building permit, and legislation on unauthorized construction, and in the opinion of experts from JLL, ought to be of benefit to investors, developers and construction companies operating on the Polish market.

In the second quarter of 2020, Echo Investment generated a net profit of €2.3 million (PLN 10.4 million), which mainly resulted from the appreciation in the value of projects under construction and the handover of 222 apartments to buyers.

Globalworth’s revenue and net operating income rose by 9.9% to €114.0 million and by 17.1% to €79.6 million as compared to H1 2019, respectively, mainly due to the acquisition of standing properties in Poland and completion of the development of properties in Romania. Globalworth has published its interim results for the six months ended 30 June 2020.

Warburg-HIH Invest Real Estate is improving the carbon footprint of its portfolio within the scope of its ESG strategy. The real estate portfolio is gradually being converted to an environmentally-friendly supply of electricity from ecological sources and heat from carbon-neutral natural gas. In joint undertaking with the Hamburg-based energy provider Lichtblick, a total of 126 properties are currently being converted to the use of green electricity. This will allow for a reduction of carbon emissions in the portfolio by around 7,500 tonnes annually. Warburg-HIH Invest will also be gradually converting its entire European real estate portfolio to green electricity.

The recent transactions closed in the last weeks, with a total value of €400 million, demonstrate that the investment market in Romania remains strong and attractive even in the COVID-19 pandemic period, Romania no longer being just seen as just a fringe market of Central Europe, according to Cushman & Wakefield Echinox.

Six investors, representing the most active players of the Slovak property market, discussed the experiences of the pandemic period and shared future strategies at Bratislava Property Forum 2020, an annual event co-organised by Property Forum and RICS.

Germany and Central Eastern Europe (CEE) reported investment turnover growth across commercial real estate in H1 2020, despite the effects of COVID-19 in Q2, according to the latest Savills European Investment Spotlight.

CPI Property Group published an update regarding the lawsuit filed in April 2019 in the United States District Court for the Southern District of New York. The lawsuit concerned a group of Kingstown companies, Investhold LTD and Verali Limited (who filed a claim against CPIPG and Mr. Radovan Vitek and other parties alleging violations of the Racketeer Influenced and Corrupt Organizations Act in the United States. On 4 September 2020, the SDNY Court dismissed the claims against all defendants and directed the clerk of court to close the case.

CPI Property Group’s property portfolio increased to €9.8 billion (up 8% from year-end 2019) as the Group made €928m of acquisitions, primarily offices in Warsaw and a 29.4% stake in Globalworth. The company published its unaudited financial results for the first half of the 2020 financial year.

In mid-March, when COVID-19 challenged every aspect of ‘normal’, the European higher education and student housing industries entered an unpredictable time with regards to knowing how best to secure positive learning and living experiences. Given the nearly daily changes accompanying the situation, many higher education institutions and student housing operators chose to follow an active co-learning path, flexible scenario-planning and making bold decisions when necessary. During the summer, Bonard and The Class of 2020 launched a joint research project with the aim to provide as accurate and up-to-date information as possible to assist industry leaders in making further strategic decisions to create more sustainable knowledge ecosystems for global talent amidst the pandemic.