NEPI Rockcastle inaugurated Shopping City Ramnicu Valcea, following an investment of €40 million. With a leasable area of 27,900 sqm, Shopping City Ramnicu Valcea offers 14,000 sqm of fashion brands, a hypermarket and services area of 10,000 sqm and 3,000 sqm of restaurants and entertainment area.

GTC’s Polish flagship retail project was officially granted an investment loan facility in the maximum amount of up to €200 million. Under the original agreement, Bank Pekao S.A. granted a construction loan facility of up to €116 million.

Mitiska REIM, in partnership with Squaretime Development, has announced the opening of two new retail park developments in the Romanian cities of Bistrita and Pascani.

GTC Serbia announced that it has managed to secure lease agreements with several new brands for its latest Belgrade development, Ada Mall. The opening of the 34,000 sqm mall is scheduled for autumn 2018.

Ikea has started the construction of its second store in Romania, which will be finished in H2 2018 following an investment of approximately €86 million, which includes the acquisition of the land.

CBRE has been given a new mandate for the management of a retail, office and residential building in Wenceslas Square in Prague, where Van Graaf department store is the majority tenant. The change of the building manager occurred as part of its sale. The new owner is a fund managed by BMO Real Estate Partners, part of the Bank of Montreal.

TK Development has received the construction permit for building Outlet Arena Moravia. It will rise in the vicinity of the centre of Ostrava, lying immediately adjacent to the D1 Motorway, on a vacant lot in Hlucinska Street (in the proximity of two traffic arteries, with approximately 60,000 vehicles passing every day).

Soaring rents have seen London’s New Bond Street rise to become the world’s third most expensive retail street, while New York’s Upper 5th Avenue and Hong Kong’s Causeway Bay retain their first and second place rankings, according to Cushman & Wakefield. Prague’s Na Příkopě Street has improved its position from last year’s 23rd to the current 22nd in a chart of the 68 most expensive high streets.

The leasing department of Echo Investment finalised the lease of the last unit just before the opening of an extended part of Galaxy in Szczecin. Echo Investment is responsible for the construction and lease of the facility for EPP which is the owner and manager of Galaxy.

Granit Polus Group has signed a credit agreement of €335 million with a syndicate of Erste Group Bank AG, Erste Bank Hungary Zrt., UniCredit Bank Hungary Zrt., UniCredit SpA and K&H Bank Zrt. in order to refinance existing loans and provide a capex credit line for WestEnd City Center.