Echo Investment plans to deliver a 1,200-apartment residential project with retail components and social space in Warsaw’s Służewiec district. The plot on which the project will be built is the subject of a preliminary purchase agreement by Echo Investment from Immofinanz. Construction works could start in the middle of next year.
Polish developer Capital Park has concluded a preliminary agreement for the purchase of two plots in Gdańsk with a total area of 1.3 ha on the Polski Hak part of Gdańsk’s port area. At the site, Capital Park is planning a residential development with retail and services functions, as well as public recreational space. The seller and the transaction price have not been disclosed.
Nusco Imobiliara, one of the largest real estate developers in Romania, named Crosspoint Real Estate as a sales agent for its newest residential project, Nusco City, located in the capital’s Pipera area.
Hungary’s rental property market had an uneven month as prices were on average 5% lower than a year earlier according to the joint Rent Index of the Central Statistical Office (KSH) and real estate portal ingatlan.com. Rents were down 0.7% compared to August in Budapest in September, the last month of the season, while prices in other regions in Hungary remained level.
Impact Developer & Contractor has started the construction works of the fourth phase of the Greenfield Băneasa residential compound. This will include Impact's first commercial project, Greenfield Plaza, with 7,258 sqm of space for trade and services and 1,184 sqm of office space. The entire project has a value of €12 million and it will be built with RCTI Company s.r.l. with which Impact signed a contract worth €7.5 million. At the same time, Impact is also investing €500,000 in the green areas of its Luxuria Residence compound located in Bucharest’s Expoziției area.
In the third quarter of this year, residential developers operating in the six largest cities in Poland sold 13,300 units, which is 94% more than in the previous quarter. In most markets, these units were sold at higher asking prices than in the second quarter. Thanks to new launches, which returned to the level seen at the beginning of 2020 of 13,000 units, the offer remained stable, according to the latest JLL report on Poland’s residential market.
Impact Developer & Contractor has started the works on the first 3 blocks of the Boreal Plus residential compound in the north of Constanța. The enterprise contract worth €9.5 million was concluded with the construction company Premium Invest Concept.
VÚB banka and UniCredit Bank have provided developer J&T Real Estate with a €105 million syndicated loan for the construction of Eurovea’s extended residential part, which will include approximately 500 apartments in Eurovea Tower - Slovakia’s very first skyscraper - and waterfront residences (Eurovea Riverside). This loan is one of the largest granted for a Slovak development project in recent years. Dentons prepared the contract documentation.
Romanian real estate developer Impact Developer & Contractor, listed on the Bucharest Stock Exchange, enters the real estate market in Iași through the acquisition of a 19,068 sqm land plot. The transaction marks a major step in the developer’s strategy for implementing residential projects in large cities throughout the country.
Student Depot, owned by Kajima Student Housing Limited in partnership with Griffin Real Estate Partners, announced the opening of its first facility in the university city of Gdańsk, Student Depot Kolobrzeska.
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