The ongoing war has significantly transformed various aspects of life in Ukraine, with the real estate market being no exception. Despite the challenges posed by active hostilities, economic instability, and demographic shifts, the resilience and adaptability of Ukrainian businesses are noteworthy. This overview, based on a survey conducted by the Ukraine Real Estate Club among members of the business community, outlines the primary issues, trends, and prospects within the real estate sector during wartime.

The land bank of 7R, a developer of warehouses and industrial facilities, grew by 2 million square meters in 2024. This expansion opens up new opportunities for clients planning to expand in specific locations.

With the first interest rate cuts in the Eurozone in a long time, optimism has also returned to the banking sector, as the participants of the banker panel at the CEE Property Financing Update 2024 conference unanimously concluded. However, it is limited by factors such as the uncertain political situation in the United States or the EU taxonomy, through which many older buildings may become troubled assets for their owners. The event, held at the end of September in Warsaw, was organised by Property Forum and law firm CMS.

Hungarian developer Biggeorge Property has extended its existing portfolio with an international residential property development division (Biggeorge Homes International) in Q4 2024, and brought aboard three new leaders to successfully implement its European expansion plans. Founder and CEO Tibor Nagygyörgy welcomes János Martin CEO, Zinaida Onczay-Vojnár International Business Development Director and Gábor Bakonyi-Kiss International Investment Manager in the group’s leadership. 

Over the last two and a half decades, a lot has changed in the Hungarian real estate market. Spectacular investments have shaped the image of the capital, while the modern real estate market as we know it today has gradually emerged. The biggest players were already present in the late 90s, including WING, which is 25 years old this year. During this time, the group has undergone dynamic changes, reflected not only in its developments in Budapest but also in its presence on international markets. We talked to Noah Steinberg, CEO of WING Group and Chairman of the Supervisory Boards of Echo Investment in Poland and Bauwert in Germany, about the main challenges of the past 25 years, the strategy that has been most effective in addressing them and the plans the group has for the next 25 years.

Panattoni has purchased a land plot where it is to build Panattoni Park Kraków East V. The launch of construction work is scheduled for October and the park’s first tenant – Highway Automotive – has already been found.

The building use approval of the first stage of the Vydrica district in Bratislava is approaching, and the construction of the Vydrica Offices building is also progressing. The building has already reached its full height.

Developer Lucron is launching the sale of apartments in a new stage of its residential project on the outskirts of Bratislava - Nesto Prime. Low-rise buildings in the middle of existing greenery are comprising 60 apartments.

CTP has purchased an 85,000 sqm investment plot in the Wiskitki municipality near Warsaw. The acquisition of this land, located just 10km away from the planned Central Transport Port, will allow the company to expand the CTPark Warsaw West complex with an additional 36,000 sqm of leasable space. JLL was responsible for coordinating the purchase of the new land.

The fourth tower of the mixed-use Sky Park project in downtown Bratislava has been officially approved for use, according to the schedule outlined by the investor Alro Real Estate 2 years ago.