Nepi Rockcastle, Europe’s third-largest listed retail real estate company by portfolio value, reported a 12.1% year-on-year increase in net operating income (NOI) in the first half of 2025, reaching €307 million. The company’s investment property portfolio exceeded €8 billion for the first time in its history, supported by acquisitions completed in 2024 and active asset management. Vacancy remained low at 1.6%.

GTC, a major investor and developer in CEE commercial real estate, has appointed three new members to its Management Board. The new executives, Jacek Bagiński, Mihály Ország, and Botond Rencz, bring extensive experience from the real estate, finance, and advisory sectors. 

Industrial developer CTP said its gross rental income for H1 2025 reached €367.2 million, marking a 14.4% year-on-year increase, while signing 1 million sqm of new leases, an 11% increase compared to H1 2024.

In a time of shifting consumer behaviours, rising costs, and increasing sustainability demands, retail landlords must do more than simply lease space. Property Forum spoke with Marek Noetzel, COO of NEPI Rockcastle, about how the region’s largest retail investor is adapting its strategy to meet changing market dynamics. From expanding into new cities to rolling out large-scale refurbishments and solar investments, NEPI Rockcastle is focused on curating experiences, driving operational efficiency, and enabling retailer growth across Central and Eastern Europe.

Nicolae Ciobanu, Managing Partner – Head of Advisory at Fortim Trusted Advisors, talked to Property Forum about the firm’s growth in office leasing and land transactions, as well as the outlook on rents and the role of the defense sector in boosting industrial demand going forward.

Elena Oancea, Co-CEO of Goldbach Group, talked to Property Forum about the group’s ongoing developments in the retail parks niche, the focus on sustainability in its construction and interior design divisions and its pipeline of photovoltaic projects in Romania.

Romania is increasingly establishing itself as a key industrial hub within CEE driven by a confluence of factors including production relocation, burgeoning investments in logistics, and a heightened focus on ESG standards, finds a Colliers report.

German residential investors are increasingly turning to foreign markets, with Poland emerging as a particularly attractive destination. High construction costs, long approval processes, and regulatory uncertainty in Germany are pushing investors to look abroad. In countries like Poland and the USA, planning and permitting procedures can take just a few months, compared to years in Germany. Trei Real Estate, for example, has shifted its focus to Polish cities such as Poznań and to fast-growing areas in the southeastern United States to take advantage of clearer and faster approval systems. Rueckerconsult GmbH summarised the trend in a recent press release.

Industrial rents in Romania remain among the lowest in the EMEA, despite a significant 15% increase since 2019, according to a report by Cushman & Wakefield Echinox. 

George Gardin, Country Manager for Romania at Yellow Tree Group, spoke with Property Forum about the group's first pilot development in Romania, Aria Shopping Center, and the investment vision for the local market going forward, with a focus on diversification into hospitality and in-city logistics.