ARTICLES LABELLED WITH TAG development

CTP announced a new aggressive growth plan to achieve a portfolio size of 10 million sqm by 2023. In order to reach this ambitious goal, CTP is taking steps towards various options to further strengthen its capital base and enhance its growth prospects. The company is currently considering partnering with a strategic investor.

AFI Europe Romania plans to expand the AFI Cotroceni mixed-use project in Bucharest with new retail, office, residential and hotel components. According to Ziarul Financiar estimates, the expansion would see the project’s total value increase from €700 million to €1-1.2 billion.

Panattoni has launched the construction of 25,000 sqm at Panattoni Park Legnica, out of 90,000 sqm planned. The first facility will accommodate the Polish production site of global e-commerce company Spreadshirt Group. Already in August 2020, the company will be taking up in excess of 11,000 sqm of production and warehouse space at the upcoming facility. The lease was mediated by JLL.

Atenor announced that the final building permit for the Dacia One project has been obtained. Dacia One is located on the crossing between two of Bucharest most prestigious boulevards, Calea Victoriei and Bulevardul Dacia. The project includes two separate buildings consisting of a historic listed villa (1,500 sqm) formerly occupied by the German Legation and a new state-of-the-art Class A office building (13,500 sqm).

PPHE Hotel Group announced its plans to develop a new city centre hotel in Zagreb, Croatia, through its subsidiary Arena Hospitality Group d.d.

The Neopark office complex, one of the flagship investments of Yareal Polska, is now fully leased, with companies such as Play, Inpost, New Work, Olympus and Mitsubishi opening their offices in the buildings’ 24,000 sqm of space. Experts from JLL were responsible for the commercialization of the project.

Spanish-based developer, Gran Via Real Estate has invested more than €200 million in Romania in the last 15 years and completed about 1,800 apartments until the end of 2019. The company has specialized in the conversion of former industrial lots into residential projects, communities where thousands of families have started a new life.

Element Industrial has completed the first phase of the Eli Park 1 logistics park in Chitila, northwest of Bucharest. The 20,000 sqm warehouse is leased to appliance producer Arctic, part of Turkish group Arcelik.

Panattoni Europe continues its expansion in north-eastern Poland. The developer has leased out 100 per cent of space at Panattoni Park Białystok I and announced the development of the second distribution centre in the heart of Podlasie. Additional 35,000 sqm will be delivered this year at Panattoni Park Białystok II.

Optima Investment Ltd., which manages the assets of the Central Bank of Hungary’s Pallas Athené Foundation, has sold the majority stake of its Budapest development project, located on the Váci Road office corridor, to internationally-based Chi Fu Investment Group.