Another skyscraper will be added to Bratislava's skyline. DRFG Investment Group will build the multi-functional Ister Tower complex in cooperation with local developer The Galata Group. The €249.5 million project will be located in the city centre near other high-rise buildings such as Sky Park, Eurovea Tower and Nivi Tower. Construction of the new skyscraper is expected to begin in 2024, DRFG said.
Investment group DRFG has started to build a new apartment complex in Mladá Boleslav in Michalovice. As part of the project, called Green, an apartment building with more than a hundred apartments, garages and a large garden with a water reservoir will be built within two years. The market value of the project is CZK 634.6 million (€25.9 million), according to DRFG spokeswoman Monika Brichtová.
Investment group DRFG has acquired land near the main railway station in Olomouc (the eastern province of Moravia in the Czech Republic) in March this year and plans to build flats and commercial premises there. It plans to build a multifunctional residential complex with retail space and offices on this brownfield site with a total market value of CZK 2.6 billion and an area of 43,000 sqm by 2025. The architectural design of the complex is currently being finalised. DRFG Group informed about its new acquisition and construction plans in a press release today.
Focus Estate Fund has finalized the deal on the sale of two of its retail properties in the Czech Republic to investment group DRFG – Centro Ostrava Retail Park (7 699 sqm GLA) in Ostrava and Most Retail Park (6 471 sqm GLA) in Most. The Fund acquired these assets in 2016 and 2017, respectively. As of the date of the transaction, both properties were 100% leased.
Local investor DRFG, through its Czech Real Estate Investment Fund, has acquired the Olomouc CITY shopping centre from Mint Investments. With this acquisition, DRFG manages the first primarily leisure-oriented property in its portfolio.
Salzgitter Mannesmann Acélkereskedelmi Kft. has signed another long-term lease agreement in the ZenGarden office building in Budapest. The redesigned workspace will take up over 500 sqm in the building.
The New Balance brand has expanded the space of its showroom in Galeria Warmińska in Olsztyn, Poland. The American brand's shop currently occupies an area of almost 200 sqm.
GLP has signed a contract with Victaulic, which has leased 7,500 sqm of space in the newest building of GLP Poznań Airport Logistics Centre at Poznań's Ławica airport.
New appointments
DLA Piper’s Prague office has appointed a Corporate partner with a focus on technology Tomáš Ščerba, Real Estate partner Michal Hink and Banking, Finance and Restructuring counsel Leo Javorek.
Following Magdalena Sekuła's resignation from the Supervisory Board of LPP, and the reduction of the number of Supervisory Board members below the statutory minimum, the Supervisory Board appointed Jagoda Piechocka as a Supervisory Board member.
Florin Suicescu has been named COO of Forty Management. With over 30 years of management experience, he has held senior positions in real estate and hotel developments.
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