ARTICLES LABELLED WITH TAG CEE

Rustom Vickers, Vice President & Head of Development at Blueground, has talked to Property Forum about the “flexible living” rental model, the changes in the rental market in the post-pandemic era and the expansion plans in the CEE region.  

Workplace adaptation to hybrid working, sustainability and inclusion are some of the biggest office trends and buzzwords at the moment. The implementation of these elements in a new office is, however, a challenge, especially in the current macroeconomic situation. Employers want to bring employees back to the office, while optimising rising costs. According to Cushman & Wakefield’s latest report, medium-quality fit-outs in Warsaw are priced at an average all-in rate of €1,250 per square metre – almost the same as in Prague or Budapest but half of what average fit-out costs are in London and Hamburg.

Tourism and the commercial real estate industry would both benefit from the existence of theme parks in CEE. Demand is real and exists, however, there are several challenges to address for both investors and developers. Property Forum asked Róbert Székely, Senior Hospitality and Leisure Advisor at Newmark VLK Hungary, to give an overview of the potential of such parks in our region.

The company recorded a 19% increase in NOI to €423 million (2022: €357 million), attributed to portfolio expansion and increasing rent levels. On a like-for-like basis, NOI rose by 6%, driven by lease indexation and strong re-leasing spreads, with new effective rents averaging 23% higher when compared to prior leases on the same space. An enhanced EBITDA margin of 83% was achieved, reflecting the company’s strategic focus on growth, efficient re-leasing, and operational efficiency.

Vlad Stanislav, Managing Director Romania at iO Partners, talked to Property Forum about the company’s expansion in the energy and infrastructure line of services and the higher yield environment in Romania’s property sector compared to other markets in CEE.

CPI Property Group has published its audited financial results for the financial year ended 31 December 2023, confirming a stable market environment with high occupancy figures. On the other side, the figures have shown a considerable net loss of €877 million, driven predominantly by a non-cash negative revaluation result. Property Forum asked CPIPG spokesman Jakub Velen to comment on the figures and provide an outlook for the year ahead.

Noerr and Kinstellar have announced that Noerr’s practices in Budapest, Bratislava, Bucharest and Prague are to be transferred to Kinstellar.

Charles Boudet, CEO of iO Partners, spoke to Property Forum about the ongoing expansion plans of the real estate consultancy in the region and the trend of foreign investors returning to their core markets.

Sustainability will continue its massive growth, as stakeholders demand more action on environmental and social issues, and businesses and governments respond to stricter demands imposed by politics and climate pressures, finds a BuildGreen report.

Cosmin-Savu Cristescu, Managing Director of Romanian developer Redport Capital, spoke with Property Forum about the start of a new mixed-use investment of  €150 million in northern Bucharest and the continuation of the residential growth trend that has been recorded since 2023.