The Prague Research Forum – CBRE, Colliers, Cushman & Wakefield, iO Partners, Knight Frank and Savills – has shared an updated Prague office market insight. Figures and data for Q4 2023 have confirmed a cautious approach both from developers and tenants.

CPI Property Group has appointed CBRE as manager of its Stop Shop retail park portfolio in Serbia, which comprises 14 retail parks in 14 cities and more than 120,000 sqm of leasable area. CBRE will provide integrated asset management solutions, including financial and property accounting services, leasing services, and will oversee all operational aspects of the property and tenants.

It is anticipated that the market will experience the transition from being perceived as a problem to an opportunity for many investors and funds in 2024. CBRE summarised this year's developments in the Czech commercial real estate market and provided an outlook for 2024. 

The construction of a modern distribution centre by HAVI Group has begun. The new distribution centre in Velika Gorica will cover an area of 8,300 sqm. HAVI has entrusted the process of location selection and tendering the developer to CBRE. 

To address climate change-related challenges and help investors and occupiers comply with relevant regulations or government targets, as well as meet their own ESG commitments, CBRE's Southeastern Europe (SEE) office is expanding its services with the launch of a new business line, 'ESG & Sustainability Services'.

Total investment transactions in Romania’s commercial property sector stood at €62.4 million in Q3 2023, with 32% of the total volume represented by sale-and-leaseback transactions, according to a CBRE report.

The third quarter of the year has slowed down in terms of investment activity in comparison with the previous quarter. Namely, the most sought-after segments have been office schemes and retail parks. Both domestic and foreign investors have been active, with a slightly higher provision of international capital since the beginning of the year, CBRE SEE reports.

Pavăl Holding has appointed CBRE as manager of its U-Center 1 office building. The manager will oversee all aspects of the property in relation to tenants, subcontractors, and authorities.

At the country level, the share of retail parks in modern retail stock is constantly growing, at the end of H1 2023 claiming 39% of the market, according to a CBRE report. 

Despite rising operating costs, high inflation, and uncertainties related to events such as the conflict in Ukraine, Central and Eastern European markets continue to be attractive compared to Western Europe. Daniel Bienias, Managing Director in CEE at CBRE, talked to Property Forum about investment trends and the future of the advisory business in the region and beyond.