ARTICLES LABELLED WITH TAG CEE

In Q3 2021, the Czech Republic registered the strongest house price growth within the EU, both in a year-on-year (22%) and a quarter-on-quarter (7.3%) comparison, well above the EU average of 9.2% and 3.1%, respectively, according to Eurostat’s House price index.

Yovav Carmi, President of GTC’s Management Board, has announced that he steps down from the current position by mutual agreement. He has served the company for over 20 fruitful years, performing various functions, including a post on the Management Board.

The change in the office market which we witnessed in 2021 was only the warmup for what is to come in 2022 and forward. The sharing economy and digitization are driving the disruption in the office industry and the adaption of hybrid work models from international corporations are acting as a booster. New Work’s annual Flex Office Market Report 2022, presented in Warsaw and broadcasted internationally, provides some insights.

Despite almost all European office employees working from home last year the empty workplaces did not lead to a reduction in the expenditure that companies had to fulfil had the workforce been in the office. The average costs per FTE fell by only 2% and amounted to €9,468. These findings have been published by Colliers, Occupier Cost Index (OCI), which comprises data from 29 countries, 3,990 buildings, 26.1 million square meters of office space and 1.96 million FTEs.

Griffin Capital Partners is the new name of the rebranded investment and asset manager Griffin Real Estate. By changing its name and revising its visual identity, the company wants to highlight the shift to private equity that has taken place in Griffin’s investment strategy over the last years.

In early December 2021, S Immo announced a partial takeover to the shareholders of Immofinanz, only three days after a similar offer was made by CPI Property Group. Today, the Executive Board, Supervisory Board and Works Council of Immofinanz have issued statements in which they indicate that the offer price of €23.00 per share is viewed as not sufficiently attractive. The Executive Board and Supervisory Board, therefore, recommend that shareholders not accept the partial offer by S Immo for approximately 10% of the outstanding Immofinanz shares.

CTP’s founder Remon Vos has been listed as the second wealthiest Dutch person on the annual Quote 500 list with an estimated net worth of €5.7 billion, just behind Heineken heiress Charlene de Carvalho-Heineken. The story of CTP, a company with a market cap of €7.7 billion, is a prime example of how tapping into CEE’s untapped potential helped create a dynamic real estate empire.

Realpad, a European provider of CRM and after-sales management software for residential developers, has significantly increased its customer base in Romania in 2021. After entering the market earlier in 2021, the Romanian team of Realpad has managed to close 20 clients including well-established market players such as Hagag Development Europe, Bog’Art, Synergy, Liebrecht & wooD or leading residential agency SVN Romania.

The shareholders of Atrium European Real Estate have voted in favour of the company merging with Gazit Globe subsidiary Gazit Hercules 2020.

Immofinanz announced its new Net Zero Emission Strategy. Plans call for a reduction of 60% (below the 2019 level) in all greenhouse gas emissions by 2030 – and by 2040, the company intends to be emission-free along the entire value chain.