Skanska has laid the cornerstone under its fifth office development in Wrocław, Green2Day. The 17,000 sqm building is scheduled for completion in Q3 2017.
Neinver, a Spanish developer, investor, property and fund manager, has decided to enter the Czech market, the eighth market in which the company has a presence. Neinver has partnered with The Prague Outlet to forge a joint venture launching Prague The Style Outlets, the first premium outlet centre in the Czech Republic. Neinver will be in charge of leasing, retail and property management. The joint venture is financed by PPF Bank.
Building F, the sixth Class A office building of Krakow’s Bonarka for Business (B4B) complex has opened today. TriGranit, the developer plans to deliver three more office buildings in the near future due to the increasing demand for office space in the region.
The time capsule of the first hotel in Hungary with direct terminal access was placed at Ferenc Liszt International Airport this week. The 145-room ibis Styles Budapest Airport Hotel featuring conference facilities is scheduled for completion in 18 months.
Echo Investment has published its H1 2016 results. The Group had the revenue of PLN 280.5 mln in H1 2016 (compared to PLN 273.8 mln in H1 2015), a gross sales profit of PLN 145.4 mln (compared to PLN 135 mln), an operating profit of PLN 404 mln (compared to PLN 31.3 mln) and a net profit of PLN 299 mln (compared to PLN 22.7 mln).
Construction commenced on GTC Hungary’s latest office development project. GTC White House is going to have a GLA of 21,500 sqm and is expected to be completed by end-2017. Concurrently, GTC Hungary will carry out a full interior refurbishment and technical reconstruction at Duna Tower Office.
With the last works completed in July, Budapest’s newest office building “Buda Loft Offices” is ready to welcome its new tenants. The building - which used to be the Goldberger textile factory - now offers modern loft offices. Colliers International has been appointed as the exclusive letting agent on the building
Prologis has announced that it will deliver a 11,740 square metre build-to-suit (BTS) facility for Geis PL, a German logistics operator, at Prologis Park Stryków. The project is scheduled for completion in the fourth quarter of 2016.
Days of strong development activity on the Budapest office market are once again ahead of us. The market has been growing steadily and cautiously for years now and we have reached a point where tenants looking to immediately rent several thousands of square metres have no options left. BTS developments and large pre-lease deals have dominated property news cycles for over a year now and the time has finally come for developers with speculative projects to make their move. We take a closer look at Budapest office developments.
Romanian real estate developer Primavera Development will build a shopping centre in the centre of Sibiu, on the plot of the former Simerom plant. Festival Shopping Center is set to have a 44,000 sqm rentable area and is expected to be opened in H2 2018. The investment in the mall will amount to 70 million euros.
Szerémi Office Building in Budapest welcomed an unnamed new tenant which has signed a long-term lease agreement for 1252 sqm of space in the property. The complex of three interconnected buildings provides a total floor space of nearly 10,500 sqm.
Kucera Logistics Group Sp. z o.o Sp. K. has decided to open a new distribution centre at Panattoni Park Pruszków V. The tenant will occupy nearly 3,300 sqm of warehouse and office space in the new location. AXI IMMO represented Kucera Logistics Group in the transaction.
In the Go! Park Handlowy in Jasło, Poland, Dealz will open its shop. The chain's premises will occupy 520 sqm. The retail park is scheduled to open in June 2023.
New appointments
CPI Property Group has appointed Karol Klin as Head of Office Leasing in Warsaw from the 1st of February. He is a recognised specialist in the commercial real estate sector. He gained more than 20 years of experience in such companies as Cornerstone, Globalworth, Echo Investment, Skanska and GTC.
Daniel Cateliu has been appointed as Director in the Industrial & Logistics department of real estate consultancy CBRE Romania. He is currently pursuing an EMBA at the University of Sheffield in the UK. Cateliu is a graduate of the Faculty of Political Sciences within the SNSPA, subsequently following a master's program and earning an Erasmus scholarship at the University of Trieste in Italy.
Oscar Kazanelson - the current Chairman of the Supervisory Board of ROBYG - has been appointed Chairman of the Supervisory Board of Vantage Development. This is related to the decision to build synergies within the TAG Immobilien Group.
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