Bulgaria is recording a slowdown of EU funds’ absorption, which could limit new investments in infrastructure and the energy efficiency of the building stock, according to research by the Eastern European Construction Forecasting Association (EECFA).

CPIPG has published unaudited financial results for the three months ending 31 March 2024. Total assets have reached €21.5 billion, and CPIPG’s property portfolio is equal to €19.2 billion (versus €19.5 billion at year-end 2023).

S&P Global Ratings has downgraded CPIPG’s rating from BBB- to BB+ with a negative outlook. CPIPG has communicated an update for its stakeholders concerning recent events and news.

Q1 2024 retail data has revealed that the difficult period of the coronavirus pandemic and the unfavourable economic situation of last year is over in the Czech retail market. In its analysis of the Shopping Center Index, CBRE has looked back at the 2023 performance of regional shopping centres.

Interest in the industrial and logistics space in the Czech Republic has reached a record height, rising 50% in the years 2019 and 2023 comparison. The growth in interest continued in the first four months of this year. Cushman & Wakefield is presenting data based on its record of enquiries.

On 15-16 May, the Ukrainian Construction Congress was held in Kyiv, with the key topic of rebuilding Ukraine in a barrier-free and inclusive manner. As part of the concept of rebuilding Ukraine, the Steel Dream Bakhmut concept plan was presented. Iryna Nastych summarised the concept in an article prepared by the Ukrainian Real Estate Club for Property Forum.

In Q1 2024, 246 resi units in Brno have found their buyers. This is a 100% increase compared to the previous year's average, according to data by Trikaya.

Immofinanz Group generated sound growth in rental income and earnings in the first quarter of 2024. Rental income rose by 11.5% year-on-year to €143.2 million. After an adjustment for new acquisitions, completions and sales, the like-for-like rental income recorded by Immofinanz (excluding S Immo) rose by 6.4%. The results of asset management increased by 14.3% over the previous year to €120.0 million and the results of operations improved by a strong 26.4% to €104.3 million. FFO 1 after tax was 23.5% higher at €69.7 million (Q1 2023: €56.4 million).

CPIPG has announced the Group’s strategic initiatives including group simplification, financing updates and governance review.

Compared to neighbouring Poland or Slovakia, rental prices for industrial properties in the Czech Republic can run up to one-third higher. Low vacancy rates and a small supply of immediately available space are forcing tenants to prefer more competitive offers from neighbouring countries, as shown in the regular quarterly industrial property market report published by Colliers.