MAS Real Estate, a commercial property investor, developer and operator listed in both Johannesburg and Luxembourg, announced the acquisition of two shopping malls in Bulgaria, for €62 million. The malls have been acquired from Globe Trade Centre and the European Bank for Reconstruction and Development. The Galleria Burgas Mall and the Galleria Stara Zagora Mall and are located in the Bulgarian cities of Burgas and Stara Zagora, respectively.
“This transaction is in line with our plans to expand into markets with growing economies across Central and Eastern Europe by acquiring accretive income-generating assets with real upside potential through our joint venture with Prime Kapital. The transaction increases our income-generating property portfolio by 15,3% from €406.4 million to €468.4 million,” says Lukas Nakos, CEO of MAS.
Galleria Burgas is the dominant shopping centre in Burgas, the 4th largest Bulgarian city with a population of 200,000. The mall benefits from a total catchment area of approximately 480,000 people within 60 minutes’ drive, as well as a significant number of tourists during the summer holiday season, the city being in the vicinity of the most popular Black Sea resorts on the Bulgarian coast.
Photo: galleriaburgas.bg
“Galleria Burgas has a broad tenant mix consisting of 115 tenants including primarily international fashion and entertainment brands (including Bershka, CCC, Cinema City, Deichmann, H&M, Humanic, Ikea, Intersport, LC Waikiki, Lee Cooper, Lidl, Massimo Dutti, Oysho, Terranova and Zara). Due to strong performance and tenant demand, a significant centre extension is being considered with the intention to enhance the earnings from this asset,” commented Nakos.
Galleria Stara Zagora is the dominant shopping centre in Stara Zagora, the 6th largest Bulgarian city. The mall benefits from a total catchment of approximately 400,000 people within 45 minutes’ drive. The tenant mix is focused primarily on fashion and entertainment and consists of 71 tenants (which includes brands such as Bershka, Cinema City, CCC, Deichmann, DM, H&M, Intersport, Kenvelo, LC Waikiki, New Yorker, Nike, Pull&Bear and Stradivarius).
“Galleria Stara Zagora is in need of refurbishment and offers value enhancing opportunities through operational streamlining and commercial layout improvement. With our asset management expertise we have formulated an approach to improve the operational capacity of the mall with the intention to enhance the net income earned from the asset,” says Nakos.
MAS Real Estate Inc. is a commercial property investor, developer and operator that is listed on the main board of the Johannesburg Stock Exchange and the Euro-MTF market of the Bourse de Luxembourg. MAS has a strategic alliance with Prime Kapital, led by Martin Slabbert and Victor Semionov, former directors of JSE-listed New Europe Property Investments (NEPI).
MAS' effective economic interest in the acquisition is the equivalent of an 80% direct participation in the performance of the malls and a 20% participation at the weighted average cost of funding achieved by the acquisition in line with the previously announced co-investment agreement with Prime Kapital.
Globalworth announced the signing of a lease agreement with B+N Integrated Facility Services, part of the international facility management company LIWO Group, which operates across nine European countries. B+N will occupy approximately 1,500 sqm of office space in Green Court D, Globalworth’s newest development in Bucharest, currently under construction in the Aurel Vlaicu area and scheduled for completion in 2027.
UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
New appointments
Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.
The Polish Chamber of Commercial Real Estate (PINK) has published aggregated data on the Warsaw office leasing market for Q3 2026. The figures are sourced from advisory firms active in the commercial real estate sector, including Avison Young, Axi Immo, BNP Paribas Real Estate Poland, CBRE, Colliers, Cushman & Wakefield, JLL, Knight Frank, Newmark Polska and Savills.
More than 636,000 homes were completed in Romania between 2016 and 2025, equivalent to almost 33 new homes per 1,000 inhabitants, according to an analysis by Cushman & Wakefield Echinox. Romania recorded 32.9 completed homes per 1,000 inhabitants over the decade, placing it close to Germany (33.6), Slovakia (34.4) and Czechia (31.5), and ahead of Hungary (18.2), Spain (16.4) and Portugal (15.7). Residential construction intensity was considerably higher in Finland (62.8), Poland (55.2) and France (52.8).
EQT Real Estate has signed a long-term lease for the entire larger hall at EQT Park Prague North with Ecologistics, the Czech branch of a logistics company that is part of Goodcang Holdings. The hall covers 44,500 sqm and will be used for local and cross-border e-commerce fulfilment services. The interior is currently being fitted out to the tenant's requirements, with operations expected to commence over the coming months. The park's smaller hall, measuring 12,100 sqm, remains available for lease.
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