Owner CPI Hungary will complete the second stage of a reconstruction project in its Arena Corner office building, updating it to reflect the latest office trends and changing tenant requirements.

CPI Property Group announced the successful issue of ten-year senior unsecured bonds and hybrid bonds with a total value of €1 billion.

CPI Property Group has sold part of its Czech facility management business to M2C, which provides security, maintenance and cleaning services. Employees from the existing facility management division will be transferred to M2C.

Radovan Vítek and Marie Vítek have resigned from CPI Property Group’s Board of Directors and Jonathan Lewis has been co-opted to the Board of Directors. Mr. Lewis is an independent real estate consultant who practised for 40 years as a solicitor, most recently as a partner at international law firm CMS. CPIPG's board now consists of three independent directors (Edward Hughes, Omar Sattar, and Jonathan Lewis) and four members of management (Martin Nemecek, Tomas Salajka, Philippe Magistretti, and Oliver Schlink).

CPI Property Group’s property portfolio increased by 8% to €9.9 billion compared to the end of 2019, primarily due to the acquisition of six office properties in Warsaw, Poland and a 29.4% stake in Globalworth Real Estate Investments Limited. CPIPG published unaudited financial results for the third quarter of 2020.

C2H, the company that owns the Kara and Pietro Filipi fashion stores in the Czech Republic, has recently emptied its 58 stores in the country to prevent landlords it owes rent to from seizing its inventory as security for payments.

On 2 October 2020, CEE-based investor CPI Property Group submitted a binding offer to participate in a capital increase of Nova RE SIIQ S.p.A. The offer was approved by the board of Nova RE on 7 October 2020. CPIPG will subscribe for newly issued shares of Nova RE at a price of €2.36 per share, for a total consideration of about €26 million. Following the capital increase, CPIPG will own more than 50% of Nova RE and will launch a mandatory takeover offer for the remaining shares in Nova RE at €2.36 per share. The capital increase is subject to the approval of Nova RE’s financing bank (standard change of control provision) and will be funded with cash.

A group of companies that in April 2019 filed a lawsuit in the Southern District of New York against CPI Property Group, its majority shareholder Radovan Vítek and other accused parties, are appealing against the dismissal of the case.

CPI Property Group published an update regarding the lawsuit filed in April 2019 in the United States District Court for the Southern District of New York. The lawsuit concerned a group of Kingstown companies, Investhold LTD and Verali Limited (who filed a claim against CPIPG and Mr. Radovan Vitek and other parties alleging violations of the Racketeer Influenced and Corrupt Organizations Act in the United States. On 4 September 2020, the SDNY Court dismissed the claims against all defendants and directed the clerk of court to close the case.

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.