ARTICLES LABELLED WITH TAG development

For the first time, Zagreb Property Forum was organised in the Croatian capital, bringing together real estate experts from the local market and beyond. The event confirmed increasing interest by investors and developers for Croatia, especially following the country’s admission to the Eurozone and the Schengen Area. However, given the global macroeconomic climate, uncertainty persists.

The Port7 office project by Skanska has received the occupancy permit. Port7 offers 35,800 sqm of premium office and retail space in three buildings, 50 percent of which are leased now. Skanska is now shifting its focus to finishing the nearly 2-hectare public park and the new riverside, which is expected to become the new centre of Prague Holešovice. For better access to the entire area, the developer has built an extension of the railway underpass which directly connects the project with the subway, train, and tram station of Nádraží Holešovice.

CTP has completed two industrial lettings with 12,000 sqm of space at CTP Park Cerhovice. Two speculatively developed sustainable warehouse spaces have been leased to French global automotive supplier Valeo Vymeniky Tepla s.r.o and leading European logistics operator Raben Logistics Czech s.r.o. CTP plans to develop a further 58,000 sqm in this industrial park by the end of 2024, the company announced.

CTP acquired an industrial complex from Bluehouse Capital earlier this year on a plot of land with a total area of 330,000 sqm in the city district of Ostrava - Hrušov. In addition to the existing first phase of 18,000 sqm, which already has three tenants, the developer plans to build another 76,000 sqm of industrial/logistics space. The warehouse will be built in the revitalized area of the former chemical plants with a total area of 94,000 sqm and will become the largest in the Czech CTP portfolio.

In 1.5 years, 275 modular bathrooms have been installed in YIT apartments in the Czech Republic. The developer is expanding the use of prefabrication to other building elements. By incorporating this technology, the company plans to not only improve the quality of its residential projects but also speed up their implementation. At the same time, it expects to have less demand for labour, which is in short supply. In addition to bathrooms, the developer is now also using modular manufacturing for structural elements. The Czech branch of YIT is following in the footsteps of its parent company in Finland, which has been building in this way since the 1970s, YIT told the press.

Bogi Gabrovic, CFO of CTP Poland talked to Property Forum at MIPIM about the current situation in the Polish warehouse market, the main drivers of demand and the developer’s plans for growth.

Passerinvest Group has appointed Eduard Forejt as its new Business Development Director. He has expanded his current position to include activities related to the development of the sales team, planning and control of business activities as well as client and partner care. As this is an expanded position, Eduard Forejt will remain responsible for the development of Passerinvest's business activities and acquisitions, the company announced. 

Development company Crescon has completed the first phase of the 64-unit luxury Aldrov Apartments & Resort project. The new owners are gradually taking over the apartments. By the end of this year, the company plans to complete the second phase with 75 units. A total of 139 apartments are to be built in the Krkonoše Mountains in the village of Vítkovice. The entire complex should be ready in the winter season 2023/24, Crescon announced.

Czech developer UDI Group has started construction of more apartments in the Polish capital. As part of the Classic Ursus project, it has now started construction of the second phase, in which it will build a total of 272 apartments in two apartment buildings. The phase also includes a challenging reconstruction of the listed original entrance building to the Ursus factory. A total of 960 apartments will be built in the Classic Ursus project in Warsaw under the Czech developer's management for a total cost of CZK 2.8 billion (€117.7 million).

Amadeus Real Estate in Prague is reconstructing a cultural monument from the 1970s - the OD Máj department store. According to the developer's estimate, the reconstruction, which is being carried out by the construction company Metrostav, will cost CZK 4 billion, i.e. €166.7 million. OD Máj should be reopened within a year and should offer a restaurant with a view in addition to shops and a gallery, reports ČTK.