ARTICLES LABELLED WITH TAG development

Accor has signed a management agreement with Alexandra Residence Design to open 144-room ibis hotel by the end of 2022. The newly signed hotel will be located near the future Terminal 2 of Henri Coandă International Airport in Bucharest. Est Hospitality Consulting is the consultant of the project until its official opening while Cumulus Architecture is responsible for the design.

Hungarian development and construction company Market Építő Zrt. has completed its new headquarters in Budapest. The 5,500 sqm four-story office building was designed and built by Market and its subsidiaries. The office building, named Market 6.0, refers to the group's sixth headquarters and is located in Budapest’s Óbuda district, in the immediate vicinity of the previous headquarters.

The works for Speedwell’s newest project, Paltim, will soon kick off in the city of Timișoara. The demolition permit has been issued and the works are set to start in the first part of July 2020.

Cordia International Zrt., as part of its international expansion strategy, has recently acquired 93% of Warsaw listed Polish residential developer Polnord S.A. through a combination of capital increase and public tender offer that was closed on 9 of April 2020. Cordia will first report the effects of such acquisition in its half-year balance sheet but has provided guidance on its positive effects on Cordia’s equity capital.

Panattoni will build another warehouse and manufacturing park in Silesia – Panattoni Park Zabrze II. The 44,000-square-metre project will be delivered in Zabrze, at the Katowice Special Economic Zone. The first customer has already leased 14,000 sqm at the park.

Prologis is expanding its Hungarian portfolio with the acquisition of 13 hectares in the Budapest logistics market. Modesta Real Estate facilitated the transaction.

The PZU Group has leased 47,000 sqm of office, retail, service and warehouse space, as well as 325 parking spaces in Generation Park Y – Skanska’s highest office building in CEE located in Warsaw. With this lease, the building is now 98.5 percent occupied. The PZU Group will move its headquarters to the new office in Q2 2022. This is the largest lease agreement in the history of the office market in Poland and the history of the Skanska Group in the world.

Accolade is entering Gorzów Wielkopolski with a project worth nearly €47 million. The first stage of construction of the new BREEM certified industrial park will be completed next month. Lease agreements have already been signed by Logoplaste and Omnipack.

Panattoni has completed the development of the largest warehouse facility in the Warsaw region – A2 Warsaw Park. The building, totalling close to 104,000 sqm, was delivered in Adamów, right next to the Grodzisk Mazowiecki junction on the A2 motorway. Nearly half of the space provided by the developer has been taken up.

Codic Hungary is embarking on the revitalisation of several listed buildings and their surroundings at Budapest’s Margit Boulevard. The developer plans to preserve the architectural values of a listed school building, a neglected listed building block and revive the surrounding green areas.