Trei Real Estate GmbH, a property developer and property asset holder of residential and retail real estate with activities across Europe, develops its sixth retail park of the Vendo Park brand in the Czech Republic. The property is located in the small town of Mnichovo Hradiste, which lies around one hour’s drive north-east of Prague. The total investment costs add up to €2.6 million and the completion is scheduled for Q2 2020. The company plans to keep the asset in its portfolio long-term.

Flow East announced the topping out of its landmark project being constructed on Wenceslas Square (Václavské náměstí) as contractor Metrostav placed the last beam atop the structure.

ProperGate has signed a cooperation agreement with CFE. The intelligent logistics management system, developed by ProperGate, will be pilot tested at the construction site of one of the biggest retail centres in the Mazury district.

Poland’s total retail stock topped 15 million sqm at the end of Q3 2019. The high shopping centre density rate in the country’s large cities has shifted developer interest towards less saturated markets of smaller cities and other retail formats such as mixed-use schemes, according to Cushman & Wakefield’s Q3 2019 retail report.

Bright Spaces, a proptech solution developed by a Romanian start-up, has received funding of €185,000 for development and implementation. The financing was coordinated by Sparking Capital as lead investor, with Growceanu Angel Investment and angel investor Ilinca Păun, former MD of Colliers International Romania.

The Czech Republic made it to the Top 20 countries ranked by the most expensive retail street for the second time in Cushman & Wakefield’s annual Main Streets Across the World 2019 chart. It climbed to No.18 thanks to Na Příkopě, a street where the prime rental value is €235 per sqm per month. The Czech Republic is the only country in the Central and Eastern European region to make it to the Top 20 this year (it appeared in the chart last year for the first time ever), confirming its reigning position on the Central European market.

Apsys has refinanced the Centrum Posnania retail asset with a 10-years maturity, €300 million senior loan from Allianz - completed by Allianz Real Estate on behalf of several Allianz companies - and that it now owns 100% of the 100,000 sqm property in Poznan, Poland.

KG Group SA and Peakside Capital have teamed up to develop a new outlet centre in Kraków. ROS Retail Outlet Shopping has been selected as the manager of the Cracovia Outlet project with a wide range of fashion & lifestyle products. The construction of the centre will start soon and the opening is planned for autumn 2021.

Multi Hungary announced its extensive refurbishment plans for Allee shopping centre in Buda, in the most densely populated district of Budapest. Multi will upgrade and renovate the 46,700 sqm shopping centre, while enhancing the tenant mix, interior and exterior design and customer services. Multi will start the execution phase in the second quarter of 2020 and expects to complete most of the work still in 2020.

According to the new CEE research from Colliers International, which looks at entertainment sector in 13 CEE countries, the leisure offer in shopping centres is dominated by multiplex cinemas and fitness clubs, but there are also other concepts that are being added to the mix. Czech consumers spend the most on recreation and culture, the average is €38.23/month. Key findings of the report include the following.