The Independent Committee of the Globalworth Board has published its response circular in connection with the unsolicited cash offer by CPI Property Group S.A. and Aroundtown SA at €7.00 per Globalworth share. The Independent Committee continues to believe that the offer significantly undervalues Globalworth, its assets and its prospects.

Supported by sustained portfolio growth in 2020 and the completion of profitable property sales and project pre-letting in Q1 2021, CA Immo is starting 2021 with a positive first quarterly result. All key financial figures were increased compared to the previous year, and the value of property assets rose to €5.7 billion. A sustainable result (FFO I) of at least €128 million is expected for 2021, and FFO I of at least €140 million for the post-pandemic financial year 2022.

Digital workspace solutions platform workcloud24 is organising a series of online events dedicated to the future of work after COVID-19. Property Forum is an official partner of the next event, to be held on 27 May 2021.

According to Colliers, CEE 2021 year-end investment volumes are likely to reach similar levels to 2020. CEE economies are expected  to accelerate  throughout 2021 and 2022, at an average pace of ca. 4.3% annually

Romania recorded new real estate investments worth €85 million in the first quarter of 2021, down 42% year-on-year, in line with the lower results of other markets in Central and Eastern Europe, according to a report by Colliers. 

Arcadis has published the annual results of the International Comparison of Construction Costs which demonstrates that the building industry has shown its resistance worldwide during the pandemic. Many governments took advantage of fiscal stimuli to support their economies, which has reflected an increase in infrastructure investment of the public sector. Within CEE, Vienna (#30) has by far the highest construction costs, followed by Zagreb (#64), Bucharest (#65), Sofia (#66), Prague (#66), Warsaw (#70), Belgrade (#72) and Krakow (#75).

Real estate consultancy Colliers is testing the first intelligent software robot dedicated to the real estate industry in Romania. The company is using the Robotic Process Automation (RPA) technology developed by UiPath.

Hungary's construction output in March was 11.5% higher than in the previous month, the Central Statistical Office (KSH) said on Thursday. Hungary’s construction industry has corrected the February slump and the rising trend remained unbroken, but the pre-crisis peaks are still some way off.

GTC’s rental and service revenues decreased by €3.8 million to €37 million in Q1 2021 from €41 million in Q1 2020. Profit before tax and fair value adjustments for Q1 2021 reached €15 million, up from €13 million in Q1 2020. The company published its financial results for Q1 2021.

The latest EBI Construction Activity Report has found that the stagnation of the total value of started construction works has not stopped. Between January and March 2021, construction works in the sector started on HUF 421 billion. This, although not greatly different from the values seen in the previous three quarters, is still the lowest Activity Start indicator of the last two years. Compared to the January-March periods of the previous two years, 2021 started clearly weaker: against the positive Q1 2020, the decline was about 35%, but even over the same period in 2019, there is a 15% decrease.