ARTICLES LABELLED WITH TAG development

Hungarian integrated architecture and building services provider DVM group started the construction works of Drechsler Palace in January 2021 at 25 Andrássy Avenue, Budapest. The monument building, previously home to the Pension Fund of the Hungarian State Railways and the Hungarian State Ballet Institute, is owned by QPR Properties who is transforming the building into the first W Hotel in Hungary, W Budapest.

Trammell Crow Company (TCC), one of the largest real estate development companies in the U.S., announced the launch of logistics development capabilities in Europe.

Construction has started on the Pyramid of Tirana, the brutalist monument in the heart of Albania’s capital city. Rotterdam-based architectural studio MVRDV's design will see this crucial heritage building, once the showpiece of Communist dictator Enver Hoxha, dramatically renovated. The concrete structure will be reused, the atrium and its surroundings greened and opened, and a small village of cafes, studios, workshops, and classrooms – where Albanian youth will learn various technology subjects for free – will permeate the site, both inside and outside the pyramid itself. The Pyramid is thus expected to become a new hub for Tirana's cultural life and a carrier for the new generation.

Czech industrial developer Demaco obtained a planning permit for the construction of an industrial hall of 18,245 sqm of a built-up area in the DMC Kvasiny industrial park. This is the largest permitted hall ready for construction near the Škoda Auto plant in Kvasiny, where the successful Superb, Kodiaq and Karoq models are produced.

After reaching a roof height of 230 metres, Varso Tower became the tallest building in Poland. Now, after the installation of its 73-tonne and 80-metre spire, the Warsaw skyscraper has broken another record, becoming the tallest in the entire EU.

Czech-based development group Horizon has announced that the sale of the second stage of Rezidence Čámovka is now complete. Despite much of the sales period being accompanied by pandemic-related uncertainty, all 148 flats in Prague's Čimice have already been secured by new owners. Commissioning for the five buildings in which they are located is scheduled for October this year.

Bucharest-listed Impact Developer & Contractor closed the year 2020 with revenues from the sale of real estate properties worth €42.7 million, up 29,4% compared to 2019, representing the best result of the developer in the last decade. In a pandemic year, the company sold a total of 369 units (31,191 sqm built area), out of which 205 were contracted in Greenfield Residence Băneasa and 164 in Luxuria Residence compound.  

Penta Real Estate has started the construction of the Masaryčka by Zaha Hadid project in the centre of Prague, the company announced.

Bucharest – the skyline transformation by 2025, an exclusive investment/destination marketing oriented real estate digital tour, for optimism and perspective after a traumatic year (2020), is out now, published by Romania's Real Estate Yearbook 2020.

Atenor has signed an agreement relating to the acquisition of new plots in District XI of Budapest for a total area of 82,861 sqm. This new project, named Lake City has the capacity to build a total of 92,183 sqm residential area and will propose 1,326 apartments developed in eight phases. The first phase has a valid building permit in place, while for the rest of the project the building permits are yet to be obtained.