Prices of new homes in Romania will fall this year due to lower demand as loan conditions have tightened, but more people will be looking to rent instead and this is leading to an increase in prices this year, according to an analysis by JLL Romania.
Development company Crescon has completed the first phase of the 64-unit luxury Aldrov Apartments & Resort project. The new owners are gradually taking over the apartments. By the end of this year, the company plans to complete the second phase with 75 units. A total of 139 apartments are to be built in the Krkonoše Mountains in the village of Vítkovice. The entire complex should be ready in the winter season 2023/24, Crescon announced.
Czech developer UDI Group has started construction of more apartments in the Polish capital. As part of the Classic Ursus project, it has now started construction of the second phase, in which it will build a total of 272 apartments in two apartment buildings. The phase also includes a challenging reconstruction of the listed original entrance building to the Ursus factory. A total of 960 apartments will be built in the Classic Ursus project in Warsaw under the Czech developer's management for a total cost of CZK 2.8 billion (€117.7 million).
Echo Investment and AFI Europe presented their new, refreshed project of a large mixed-use investment in the very centre of Warsaw, in a quarter bounded by the streets of Towarowa, Pańska and Miedziana. In this location, offices and apartments for sale and rent are to be created as well as restaurants and service outlet units. The remaining industrial infrastructure in Wola is to be integrated into the Słowa Polskiego public park.
UBM Development Czechia is implementing all its current residential projects with BREEAM certifications. This is an ecological certification that confirms the standard of buildings in terms of sustainability and environmental friendliness. With BREEAM certification, UBM is currently building the Arcus City residential complex in the Prague-Reporyje district and the Astrid Garden residential project in Holešovice, Prague 7.
Apricot Capital Group has commenced the construction of the 423-unit Taśmowa 5 PRS development in the Mokotów area of Warsaw, The total investment exceeds PLN 270 million and ACG’s investor has provided the full sum in equity.
Romanian developer Exigent Property Investment has secured a bank loan of €57.8 million from OTP for the construction of the first phase of its Exigent Plaza Residence complex in Bucharest.
Asking prices for homes in Romania were up by an average of 1.6% to €1,435 per sqm in February after growing by 0.9% in the previous month, according to property classifieds platform Imobiliare.ro.
Online documentation and efficiency solutions company Craft Docs secured a 1,000 sqm of office space in the renewed Krausz Palace office complex in downtown Budapest. The company will move in August 2023. The startup has become the first tenant of the building, Jake Lodge, principal of Avision Young Hungary responsible for the leasing and operative management of the building said.
A new tenant has moved into the Eximius Park office complex near Kraków. GoE Wellness is a British healthy lifestyle start-up that is expanding its operations in Europe. The company's new office has an area of approximately 900 sqm and is located in building 200.
Galeria Jurajska is strengthening its offer. Three new tenants - fashion brands Quiosque and Lovisa and patisserie Lody Czewskie - will soon appear in the Częstochowa shopping centre.
New appointments
CPI Property Group is expanding its retail leasing department. Dariusz Kafara has been appointed as the new Leasing Manager. At the Warsaw branch of the company, Dariusz is responsible for maintaining the maximum level of commercialisation in two retail park chains from the group's portfolio - CityMarket and STOP SHOP.
Brian Nyeng Olesen, formerly head of commercial at the Salling Group, has been appointed as the new managing director of Netto Polska. The position was previously held by Hugo Mesquita.
M Core appoints Magdalena Kowalewska as the new Chief Operating Officer at LCP Properties, Poland. This comes at the same time that Krystian Modrzejewski has accepted a post as the Group Head of Expansion for Poland, where he will be responsible for realising the opportunity for land and asset acquisition in aid of portfolio growth. LCP Properties Poland is part of the M Core group, which brings together family-owned companies that invest in and manage real estate. It comprises LCP, Proudreed, Sheet Anchor, GIPAM and Evolve Estates.
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