The SES-operated shopping centre Weberzeile located in Ried, Upper Austria, now generates its own environmentally friendly solar power, which is also the case at SES shopping centre Murpark in Graz. Last week, SES Spar European Shopping Centers commenced operation of a 520-kWp photovoltaic rooftop installation, which produces approximately 500,000 kilowatt-hours of clean electricity per year for its own use and reduces CO2 emissions by 128 tons. The photovoltaic system installed atop Weberzeile is the largest to be mounted by SES to date and is the benchmark for the installation of solar power systems on the roofs of other SES shopping centres throughout Austria.

Six investors, representing the most active players of the Slovak property market, discussed the experiences of the pandemic period and shared future strategies at Bratislava Property Forum 2020, an annual event co-organised by Property Forum and RICS.

Germany and Central Eastern Europe (CEE) reported investment turnover growth across commercial real estate in H1 2020, despite the effects of COVID-19 in Q2, according to the latest Savills European Investment Spotlight.

CPI Property Group’s property portfolio increased to €9.8 billion (up 8% from year-end 2019) as the Group made €928m of acquisitions, primarily offices in Warsaw and a 29.4% stake in Globalworth. The company published its unaudited financial results for the first half of the 2020 financial year.

Warimpex achieved a positive operating result (EBITDA) in the first half of 2020 despite losses in the hotel segment due to the coronavirus. This can be attributed primarily to the earnings contribution from the rental of office properties – this segment saw a 15% increase in revenues compared with the prior-year period. Following the posting of property impairments and currency losses, this led to a loss of €21.7 million for the first half of 2020, including a result of minus €3.0 million for the second quarter of 2020.

Immofinanz started the 2020 financial year with strong operational performance, but the development of business in the second quarter was negatively influenced by the COVID-19 pandemic. Rental income rose by 10.4% to €145.5 million due to the expansion of the portfolio through acquisitions and completions, but a crisis-related increase in receivables write-offs led to substantially higher property expenses.

CA Immo presented a solid operating result for the first half of the year, hardly affected by the COVID-19 pandemic. Continuous portfolio growth and the continuing high occupancy rate of the property portfolio brought a further increase in net result from rent (+10.2% on the previous year). Although the negative revaluation result reflects the current state of economic emergency, its impact on consolidated net income was significantly mitigated by other positive earnings contributions. CA Immo continued its portfolio growth in the first half of the year with the addition of two fully let Berlin office buildings (including one project completion and one portfolio acquisition) to the investment portfolio.

GTC’s rental and service revenues decreased by €3 million to €79 million in H1 2020. The decrease mainly resulted from a decrease in income of approximately €8 million due to rent relief imposed by governments during the lockdown of shopping malls and rent concessions and discounts provided by the Group to the retail tenants across the portfolio due to the COVID-19 outbreak combined with a decrease on rental revenues following the sale of GTC White House in the third quarter of 2019 and Neptun Office Center in the fourth quarter of 2019 of €3 million. The decrease was partially offset by an increase in the rental revenues due to completion of Ada Mall, Green Heart, ABC I and Matrix A.

CEE investment volumes for the first half of 2020 reached ca. €6.26 billion. This figure was boosted by two large portfolios totalling in excess of €2.2 billion, with Poland and the Czech Republic taking a 78% share of the CEE-6 total. According to Colliers International's latest report, investor appetite remains strong for CEE but a cautious approach is still being applied as markets try to settle. 

Cordia Group announced that Tomasz Łapiński stepped down as a CFO of the company and he is succeeded by Péter Bódis, who has over 20 years of experience in capital markets and investment fund management in international organizations.