ARTICLES LABELLED WITH TAG CEE

Property groups Immofinanz and S Immo said they are reviewing further alignment, coordination, merger or other forms of integration, with CPI Property Group (CPIPG) as supporting shareholder. 

As the European Union has proposed the move towards zero-emission buildings by 2030, a significant portion of the energy consumption of these projects should be covered by energy from renewable sources. This includes renewable energy produced on-site or nearby so property companies are starting to invest in such facilities in a bid to lower operating costs and meet targets under their ESG agendas. The investments in such capacities have been boosted by the high energy price environment and the need of property companies to enhance the security of power supplies.

A key challenge facing many real estate corporates, who historically have been reliant on the bond markets, is the quantum of near-term maturities. This includes the Nordics where JLL estimates circa 32% of real estate corporate bonds are due to mature within the next 2 years. 

Demand for renting and buying real estate should remain decent over the longer term in Romania and its neighbors, despite 2023 most likely being a bit more challenging than a regular year, according to experts of Colliers. 

The current economic downturn may result in more mergers and acquisitions in most of the CEE countries. Owners of some hotels and retail centres may divest their assets to minimize loss. Property Forum asked Csaba Polacsek, Partner, Advisory Services at PwC Hungary about the mood of the possible buyers and the remaining risks in the coming years.

The war in Ukraine has affected the economic situation of all countries from the CEE region, ESG moves from “nice to have” to a market standard in all real estate market segments and increasing construction, operation and transportation costs translate into increasing costs in all real estate sectors. These are some of the key findings discussed in the latest Colliers summarising the year 2022 in CEE.

Property developer and investor Globalworth has secured new funding worth €160 million from Austrian Erste Group. 

CBRE has appointed Daniel Bienias as the new Managing Director of the CEE region. He will take over this role from Andreas Ridder who has been successfully building CBRE’s presence in the region for the last 20 years. Andreas will remain in his position as Managing Director, CBRE Austria.

Immofinanz has significantly expanded its retail portfolio in the 2022 financial year. As a result of acquisitions and completions, the portfolio has grown from 111 to 169 locations in ten European countries over the course of the year, with a carrying amount of approximately €2.3 billion (excluding S Immo). Rentable space increased by nearly 30% to approximately 1.36 million sqm.

The concentration of population in rural areas, lower construction standards and less service-driven economy contribute to the divergence between the CEE region and Western European states when it comes to energy consumption structure, reveals Colliers in its recent report.