ARTICLES LABELLED WITH TAG development

The final group of tenants has moved in to the first phase of Advance Tower, Futureal Group’s new office building on the Váci Road office corridor in Budapest, Hungary. The building, designed to support the health and comfort of over 1,400 employees, offers a GLA of 12,000 sqm. The second phase of the development is now structurally complete with handover expected in H2 2019.

The Imagine office complex in Łódź is entering its final phase of development. Buildings A and B feature the symbolic topping out, which means that the highest construction point has been reached. The investment carried out by Avestus Real Estate at the intersection of Piłsudskiego and Śmigłego-Rydza avenues in Łódź will be ready to receive tenants in Q3 2019.

Panattoni Europe opened Panattoni Park Białystok, featuring in excess of 41,000 sqm of Class A logistics and industrial space. The park is a multi-tenant facility suitable for a range of industries – from logistics to production. The complex is currently 60% leased.

Developer Nova Imobiliare has started the construction works for Colosseum Mall as part of the expansion plan for its Colosseum shopping centre. The construction of the mall will be carried out by Axa Trans Construct, designated as the general contractor following a selection process.

Belgian real estate developer Speedwell is investing €40 million in a mixed-use project in the Romanian city of Cluj-Napoca.

Erste Group has laid the cornerstone of the second phase of the Sirius Offices business complex in Belgrade which will include the construction of 12,500 square metres of space over eight floors and a parking lot for 200 vehicles. Erste plans to invest €25 million in the second phase of the project. The building will be completed by the middle of 2020.

Polish developer Porto was granted a €29 million loan by the European Investment Bank via Bank Gospodarstwa Krajowego (BGP) for the construction of a mixed-use complex in Szczecin. Thanks to the application of pro-ecological technology, Posejdon will reduce CO2 emissions up to even 76% compared to a similar building constructed using a traditional technology.

After an investment of €40 million, NEPI Rockcastle opened Shopping City Satu Mare, which hosts 85 stores, including the first Carrefour hypermarket in the city.

Bulgarian Real Estate Fund received permission for the construction of a new building in the state-owned Science and Technology Park in Sofia.

Romanian developer Wallberg has secured a €5.8 million loan from Garanti Bank to finance the development of the XCity Towers project in Timisoara. XCity Towers it will be built in several stages, with a total of 955 apartments in 8 buildings. The total value of the project will exceed €62 million, of which the first stage will amount to €36 million.