ARTICLES LABELLED WITH TAG development

As the next step in the integration of Vodafone Hungary and UPC, in the autumn of 2022, colleagues working in the company's Budapest offices will move to the Budapest One office park. The complex, developed by Futureal, will house Vodafone's new headquarters.

One of Panattoni’s existing customers, Globalway – a supplier of (among others) toys, furniture, sports accessories and interior furnishings produced in China – has decided to lease the whole of Panattoni Park Tricity East IV. This has been made possible thanks to the close cooperation of the developer with the Polish Investment and Trade Agency (PAIH), which is supporting the project by providing investment incentives for Globalway. The 52,000 sqm complex is to be built in the eastern part of Gdańsk, where the tenant will be ready to move in Q1 2021. The leasing deal was brokered by Querco Property.

Romanian real estate developer One United Properties has completed a capital increase process worth €25 million by selling part of its One Cotroceni Park urban regeneration project, currently under construction in Bucharest. The amount raised is to be invested in the further development of the project.

Speedwell has designated Bog’Art as the general contractor in charge of Miro, the company’s newest office project located in the Băneasa area of Bucharest. Miro project will offer its tenants 23,000 sqm of Class A office space spread out over 5 levels. The project has been granted the building permit and works have already started.

Cordia International Zrt. has acquired UK developer Blackswan. Cordia financed the transaction by using funds collected from the bond issuance under National Bank of Hungary’s Bond Funding for Growth Scheme. The acquisition allows Blackswan to deliver a £550 million project pipeline across the West Midlands

Atenor announced that RoseVille, its latest project in Budapest, located on Bécsi Road of District III has received the final building permit. The developer acquired the 6,604 sqm plot at 68-84 Bécsi Road last spring to build a 15,000 sqm Class A+ office building there.

Panattoni has begun construction on City Logistics Warsaw V in the city’s Rembertów district with a total area of over 11,000 sqm. The building is dedicated to Warsaw logistics and has been built with Small Business Unit modules with a minimum size of 1,080 sqm. The work is to be completed in Q2 2021.

Deloitte Romania and Reff & Associates, the law firm representing Deloitte Legal global network in Romania, provided assistance to Haier Tech, a Romanian company belonging to the Haier Group, in the project for building in Prahova county the first Haier’s refrigeration factory in the European Union. After assisting Haier Tech in obtaining the financing agreement for state aid in December 2019, Deloitte’s Management Consulting practice is now advising Haier Tech in the implementation of the large investment project that exceeds €53 million, for which the state will provide aid of €25 million.

Arad-based developer Wallberg has secured a €7.3 million loan from Garanti Bank for the construction of the second tower of the XCity Towers complex, the first residential tower in the city of Timișoara, a project worth €75 million which will total 955 apartments.

Cordia International, the residential development platform of Futureal Group has successfully managed its second bond issuance on the Budapest Stock Exchange to finance its further expansion, predominantly in CEE. The developer raised HUF 36 billion (€105 million) in its latest transaction which was heavily oversubscribed by financial institutions and achieved a 2.46% yield. Last November Cordia successfully placed a HUF 44 billion (€305 million) 7-year bond at 3.82% yield.