ARTICLES LABELLED WITH TAG development

By opening its first hostel in Poland’s capital Warsaw, Berlin-based budget group a&o is set to expand its portfolio to 35 hostels, 22 cities, and seven countries. The former office building in the central district of Wola will have over 200 rooms and 600 beds, and will open in Q3 2019.

Codic International, a Brussels-based developer, announced that construction has commenced on the office component of Green Court, their latest mixed-use development to be realized in partnership with the Hungarian Pesti Házak and the Austrian Venta Group. The project is located in Budapest on the Váci office corridor. The project incorporates Green Court Office, a 21,000 sqm GLA premium office development, and Green Court Residence, comprising two residential buildings with 275 apartments. The apartments will be occupied by the end of this year, and the office project is scheduled to be handed over in Q4 2020. Colliers International and Jones Lang LaSalle have been appointed co-exclusive leasing agents for the office development.

The largest privately owned hostel-chain in Europe a&o Group will open its first quarters in Budapest in 2019. The German group creates a modern hostel by simultaneously restoring and transforming a historic property into a 108-room hostel. ConvergenCE is to lead the complete reconstruction of the selected property in Csengery Street.

Panattoni Europe will increase the supply of warehouse space in Silesia, the key industrial hub of Central and Eastern Europe. The developer has just bought land for its new investment – Panattoni Park Czeladź III. The construction of the 68,000 sqm complex will commence this quarter, creating new jobs in the region.

HB Reavis has received a syndicated loan of €175 million for the construction of the Nivy Station project in Bratislava. The loan is processed through a bank consortium of UniCredit Bank, Tatra banka, ČSOB and HYPO-BANK Burgenland, the transaction agent is UniCredit Bank. HB Reavis utilised the first part of the loan in December of 2018.

Hungarian bank OTP reportedly plans to purchase the largest real estate project from Gránit Pólus in the Slovenian capital through the acquisition of project development companies, according to local media. The Emonika project, valued at €250 million, would see the construction of 196,000 sqm of office, retail, residential and hotel space.

Local real estate developer One United Properties has started the construction of a residential project located on a 3,835 sqm land plot in Bucharest’s Timpuri Noi area, zf.ro reports.

Poseidon Group continues to invest in the Serbian retail market by bringing its Capitol Park brand of retail parks to Zajecar in spring 2019.

CTP completed the first three buildings in its brownfield redevelopment project Vlněna, located in central Brno. FGH, a complex of three buildings offering some 18,000 sqm, is already largely leased.

Wing has sold the Angyal (Angel) office building, set adjacent to Boráros Square in Central Budapest, to French economy hotel chain B&B Hotels. The building will be converted to a hotel based on the two companies’ strategic agreement, and become B&B Hotels’ first hotel in Hungary, with Wing taking on development tasks. The first B&B Hotels location in Hungary set to open on 7,700 sqm.