The COVID-19 crisis has accelerated the adaptation of technology on the residential market with developers across the region now offering digital solutions for prospective home-buyers. Waldemar Olbryk, Board Member responsible for the residential sector at Echo Investment shared his thoughts on the topic.

Romanian real estate developer Nordis Group is planning a mixed-use project in the northern area of Mamaia, Romania’s most popular seaside resort. The developer will allow people to invest in hotel rooms that they can use for one week each year. The developer promises an annual yield of 7% of the invested sum, paid in 12 monthly instalments.

Cushman & Wakefield has been chosen as the manager of The Warsaw Hub skyscrapers. At the same time, it will occupy nearly 2,500 sqm of office space in the facility, moving its Warsaw office there. Cushman & Wakefield was also responsible for the comprehensive preparation of the building for its commercial opening.

Panattoni has embarked on a new project, Panattoni Park Tricity East III, totalling close to 33,000 sqm. The park will be completed in a single phase and has already found tenants for more than 26,000 sqm. They are logistics operators: Greenyard Logistics Poland, providing services to the FMCG sector, which will take up close to 12,000 sqm, and Omega Pilzno, specialising in comprehensive supply chain services, with a lease of 14,500 sqm. Project commissioning is anticipated in Q1 2021.

Panattoni has bought 14.8 hectares of land in Central Poland to build Panattoni Park Stryków IV. The project, which will feature 74,000 sqm at full build-out, will be developed at the intersection of the A1 and A2 motorways. Construction kick-off is planned for Q3 2020.

Construction work on Villa Offices, the highest commercial building in Warsaw Brewery mixed-use complex, has been completed by developer Echo Investment. WeWork will soon open its headquarters in the new office building.

Romanian developer One United Properties has completed the structure of its One Herăstrău Towers mixed-use project, which will include 139 residential units, in addition to offices and commercial space on 5,055 sqm. The project is 85% pre-contracted ahead its completion planned before the end of the year.

Panattoni has leased approx. 7,300 sqm to DSV Road at City Logistics Łódź II. The facility will be handed over to the tenant in the coming June. To date, the developer has completed 10+ projects for the DSV Group, developing approx. 170,000 sqm of space in total in Poland and the Czech Republic.

In Central Europe, 5 buildings totalling 160,000 square meters are currently under construction by Prologis. The company published its first-quarter 2020 earnings results,

Opus Land Development, the developer of the Cosmopolis residential complex, completed the acquisition of a 15.6 ha piece of land located in the immediate vicinity of the project. Last year the developer purchased a 10 ha lot in the area.