Local developer Crestyl, through its subsidiary Savarin p.l.c., is issuing five-year zero-coupon bonds with a total nominal value of €84 million (CZK 2.2 billion) this week, with the possibility of increasing to CZK 3.3 billion. The purpose of the issue is to finance the Savarin project, which is being developed in the vicinity of Prague's Wenceslas Square and Na Příkopě Street. The multi-purpose complex also includes space for the installation of Alfons Mucha’s Slav Epic. The issue was prepared by J&T Banka and the bonds are also traded on the regulated market of the Prague Stock Exchange.

Because of the pandemic, a significant number of Polish consumers are increasingly turning to smaller stores, which are located outside traditional shopping centres. Is this an opportunity for high street shop owners, answer the experts from JLL advisory agency

Iulius Group will start the construction of two Family Market centres, a new retail concept launched in summer 2020, Ziarul Financiar informs.

Immofinanz has received a building permit for the newest planned project under the Stop Shop brand in Zielona Góra. The beginning of construction works is planned in the nearest future and the completion of the new Stop Shop Zielona Góra retail park is scheduled for the turn of 2021/2022.  

CBRE Czech Republic has taken over the property management of the Novo Plaza shopping centre in Prague, starting 1 January 2021. The property offers 27,500 sqm of space, comprising a retail centre with a GLA of 21,500 sqm including retail, office, storage and support areas and a hypermarket with a GLA of 6,000 sqm, anchored by Tesco. The shopping centre has 710 underground and 140 surface-level parking spaces.

IKEA plans to invest €50 million in the construction of a shopping park near Belgrade. The company plans to start the construction of the AVA Shopping Park in the beginning of 2021.

Dutch-Czech real estate investment company Fidurock has opened a new retail park Choceň in the Pardubice Region of the Czech Republic. The retail park comprises 10 units with Penny Market as the main tenant, occupying an area of ​​1,300 sqm. Other tenants include Pepco, KiK, Okay elektro, Rossmann, ZZN, a pharmacy and others.

The 172 million-strong consumer market of the CEE-17 region  should continue to deliver better growth rates and returns than more developed markets in retail and other sectors according to a new report released by Colliers International

Dutch-Czech real estate investment company Fidurock has obtained a zoning decision for the construction of a new retail park in Piešťany, Western Slovakia. The company acquired the land plot back in July 2018.

The great majority of shopping centres in the Czech Republic should reopen on Thursday 3 December. The footfall and revenue figures show that customers have not given up on visiting shopping centres in the long-term perspective or changed their shopping habits dramatically. Following the reopening after the first wave of the corona crisis, both performance indicators grew again, and revenue even exceeded last year’s figures in a year-on-year comparison. The impact on footfall and turnover was lower in the second wave, with footfall slightly growing in recent weeks. Considering that Christmas is coming, we can expect customers to return to shopping centres quickly as soon as they are allowed to, resulting in an exceptional increase in footfall and revenue.