ARTICLES LABELLED WITH TAG CEE

In the first month of operation of the HalfPrice chain in Poland, it was visited by over 500 thousand. customers. Currently, 13 stores operate under this brand, including the newest flagship store in the Warsaw department store. CCC Group decided to accelerate the opening of points under the HalfPrice banner outside Poland. The car showroom in Hungary will make its debut in August. Soon, customers in Austria and the Czech Republic will also be able to shop in the new network. A total of 65 stores will be opened in Poland and Europe by the end of the year.

Globe Trade Centre has successfully issued a debut unsecured green bond for €500 million. The bonds, bearing a coupon of 2.25% p.a., received a strong reception from the broad European fixed-income investor universe and were several times oversubscribed with a peak order book in excess of €1.4 billion.

Immofinanz has issued a response to S Immo’s recent statement in which the company’s officials have clearly expressed their opposition to the takeover offer by Immofinanz published in mid-May 2021.

In a statement, the Management Board and Supervisory Board of S Immo have clearly expressed their opposition to the takeover offer by Immofinanz published in mid-May 2021.

South African investor MAS Real Estate has entered into to sell an office building in Scotland to Union Investment for €91 million. The company also agreed to sell a piece of development land in East Sussex for €20.8 million. MAS Real Estate wants to sell all of its remaining Western European assets and reinvest the proceeds in Central & Eastern Europe.  

GLP closed the acquisition of Goodman Group’s CEE portfolio less than a year ago. With the integration complete, the company is developing a number of large-scale projects. Błażej Ciesielczak, the CEO of GLP Central and Eastern Europe talked to Property Forum about the growth of the logistics market and shared the company’s expansion strategy for the region.

Globe Trade Center has presented its first-ever ESG report, summarizing the group’s achievements during 25 years across its six markets. The 2020 report presents data on GTC’s engagement in sustainable development, responsible construction and asset management, collaboration with local communities and responding to stakeholders’ expectations. GTC is the first among commercial developers to present an ESG report on the CEE market.

Immofinanz recorded a significant improvement in the results of operations and net profit during the first quarter of 2021, which was still heavily influenced by the COVID-19 crisis.

CPI Property Group’s net rental income increased by 6% to €88 million in Q1 2021 compared to Q1 2020. Consolidated adjusted EBITDA increased by 7% to €90 million and funds from operations (FFO) increased by 4% to €61 million compared to Q1 2020. The company published its unaudited financial results for the first quarter of 2021.

Commercial property is viewed as having below-average risk levels in most CEE countries. Revenues from different asset classes are expected to recover to pre-COVID levels most rapidly in Poland, according to the RICS Global Commercial Property Monitor for Q1 2021.