ARTICLES LABELLED WITH TAG development

While investors in CEE are figuring out what is the best operating model for maximising hotel investments and returns, international investors are flooding the market to acquire assets. Marius Gomola MRICS, Managing Director of Horwath HTL Hungary and Founder of HOTCO talked to Property Forum about recent developments on CEE hotel markets.  

NEPI Rockcastle announced that it will open Shopping City Satu Mare, its 18th shopping centre in Romania, on 6 December. The two-storey shopping centre will offer 29,000 sqm of leasable space, following an investment of over €40 million.

Deputy Mayor of Belgrade, Goran Vesić and CEO of MPC Properties Ingo Nissen have officially laid down a foundation stone at the construction site of a new shopping centre in Belgrade with over 43,000 sqm of sales space and a total built area of 130,000 sqm. The project is a joint venture of MPC Properties, the largest investor in the region of South-East Europe and Atterbury Europe, focused on shopping centre investments and retail development opportunities in Europe, which will collectively invest more than €110 million in this project.

CEC Bank and Veranda Mall have signed two financing agreements totalling €34 million, aiming to refinance the development of the project and finance the expansion and modernisation of the shopping centre. Both funding rounds were provided in the form of investment credits for a period of 15 years.

Belgian real estate developer Didier Balcaen is investing €15 million in a residential project called Triama Residence in the National Arena neighbourhood of Bucharest, profit.ro reports.

One of the most active commercial property developers of Budapest is expanding its portfolio. In addition to several office projects, it started the Hungarian capital’s first retail development in nearly a decade. Tibor Tatár, Futureal’s CEO talked to Property Forum about new projects and the challenges a developer needs to face.

Over the next six months, Prologis will bring to market nine modern, sustainable buildings in the Czech Republic, Hungary, Poland and Slovakia. The developer currently has nine logistics facilities under construction in CEE totalling around 200,000 square meters of space.

LiNK Hradec Králové, the first of a number of planned industrial and logistics projects by LinkCity Czech Republic and Cromwell Property Group, has been completed.

Mill Park office complex, located in the 9th district of Budapest is Skanska’s eighth Hungarian development. Lease agreements have been already signed for 90% of the premises.

Warimpex officially opened Ogrodowa Office, a modern office building in the centre of Łódź, located in the vicinity of Piotrkowska street, the Manufaktura, and Vienna House Andel’s Łódź. The building provides more than 28,000 sqm of space, of which nearly 4,000 will be occupied by commercial and service outlets as well as food amenities. The building has received the occupancy permit and the first tenants of office and service premises have already moved in.