ARTICLES LABELLED WITH TAG development

The residential and office markets have received the lion's share of attention in Budapest recently, but the retail market is also gaining more interest from both tenants and investors. Tourism is booming, domestic purchasing power is growing and the only thing that can hinder growth is the lack of available space and new developments on the market.

Goodman Group has completed its second warehouse at the PLC in Gdansk, increasing the complex's capacity to 88,000 sqm.

TriGranit is to start the construction of Building H with an area of 10,000 sqm at the Bonarka for Business (B4B) complex in Kraków. This will be the eighth office building at B4B, one of the most popular office complexes in Kraków. At the same time, Bonarka for Business launches its new Tenant Relationship Program to serve the needs of their tenants on a higher level. 

The Iulius Company started the construction works for a new Class A office building in Timişoara, as part of the Openville project, the largest mixed-use development in Western Romania. This is the third office building developed under the United Business Center (UBC) brand of the seven office buildings to be included in the project. With a gross leasable area upwards of 130,000 sqm, the office component of the Openville project is set to become a regional business hub.

Iulius Group and South African investor Atterbury Europe have set up an equal partnership to develop the Openville Timişoara mixed-use project. 

P3 is to start the construction of two new warehouses with a total floor area of 25,500 sqm at the P3 Prague Horní Počernice logistics park to respond to growing demand for space at the park. Once the expansion is completed, the park will have a total lettable area of nearly 380,000 sqm. Scheduled to start in the second half of 2017, construction will be completed at the beginning of 2018.

Occupier and investment sentiment continues to be positive across Central and Eastern Europe according to the RICS Commercial Property Monitor for Q1 2017. Similarly to last quarter, Hungary remains the most upbeat market globally with the Czech Republic also performing remarkably well. The picture is slightly more mixed in Croatia and Romania, still, near term momentum remains positive in the two markets.

Prologis has fully leased a newly delivered 21,140 sqm speculative facility at Prologis Park Bratislava to a furniture wholesaler. The lease was signed just two months after the building’s completion.

Panattoni Europe commenced the construction of a large-scale logistics centre for BSH Sprzęt Gospodarstwa Domowego. The BTS (built-to-suit) facility with 79,000 sqm and its own railway siding will be delivered in Łódź. The groundbreaking ceremony took place on 30 May, and construction works are scheduled for completion in spring 2018.

In 2017, 151,000 sqm of new office premises will be added to the Prague Market. This represents an increase of 13% above ten-year average. JLL listed the most important players on the office development market in Prague.