PPHE Hotel Group announced its plans to develop a new city centre hotel in Zagreb, Croatia, through its subsidiary Arena Hospitality Group d.d.

Southeast Europe‘s real estate market is growing but most markets in the region have trouble attracting foreign investors. To make real estate investments in SEE more attractive, it is necessary to reduce investor risk by implementing legal, tax and public administration reforms and reducing corruption, according to the panellists at Balkans Property Forum 2019, which was organized for the third time in Belgrade by Property Forum and RICS. The conference was visited by nearly 200 real estate professionals from Serbia and other countries in the Balkans region.

Erste&Steiermärkische Bank is providing financing for the construction of GTC’s Matrix Office Park in Zagreb, a project consisting of two highly-efficient buildings, designed and constructed in line with LEED Platinum certification for green construction. Divjak, Topic & Bahtijarevic’s Banking and Finance team has closed the financing transaction for its long-standing client, GTC.

S Immo has acquired the almost fully let office building HOTO Tower in the Croatian capital Zagreb from the Austrian SIGNA Group. The distinctive 60-meter-high office tower is characterised by its prominent location along the Savska Cesta in the southwest of the Central Business District.

According to the latest RICS Commercial Property Monitor, CEE countries – most notably the Czech Republic, Hungary and Romania – are still global leaders in occupier and investment sentiment. The Central European region’s most mature market, Austria is on a different path, however, with respondents reporting a broadly flat outlook.

Following the expansion of its retail real estate portfolio in Serbia this year, UK-based property investor, developer and asset manager Poseidon Group continues to strengthen its Capitol Park network in Southeastern Europe by opening 10 new locations by 2020 in Croatia.

Cushman & Wakefield has extended its exclusive affiliation with CBS International to enter the Croatian market, expanding its wide array of integrated property services to one of the youngest EU countries.  

The EBRD and Revetas, a specialist real estate investment advisor focusing on Central and Eastern Europe (CEE), are joining forces for the acquisition and development of a portfolio of prime business properties in the region. The EBRD is investing €28.6 million in Project Keystone, a portfolio of premium real estate assets located across CEE representing a total gross leasable area of over 173,000 sqm. The total asset value, including gross development value, exceeds €450 million.

Market sentiment remains positive across Central and Eastern Europe, according to the RICS Commercial Property Monitor. Strong demand from tenants and investors persists in almost all market segments but the number of signs that some markets have reached their peak continues to grow.

M7 Real Estate has refinanced a €4.8 million debt facility secured against the Mani Business Centre in Zagreb, Croatia with Erste Bank Zagreb following the completion of M7’s successful asset management strategy for the property.