The global drive to advance sustainability is creating considerable uncertainty in the investment market for real estate, according to a new report by Colliers EMEA. The report, ‘ESG: A Tipping Point’, points to an urgent need for policymakers to agree on pragmatic, actionable targets that will support the creation of clear, consistent technical standards and benchmarks enabling the reallocation of both capital and skills as investors rush to factor new ESG realities into decision-making.
CEE is a competitive market based on the number of certified buildings, but companies need to accelerate carbon reduction projects, noted speakers in the ESG strategies panel of CEE Property Forum 2021, Property Forum’s first real-life event back in Vienna since 2019 which was attended by over 400 people coming from countries all over the region and beyond.
Colliers today released "Elevate the Built Environment", its new strategic framework designed to embed environment, social, and governance (ESG) best practices across the organization.
CTP successfully completed another green bond issuance, structured as a dual tranche. CTP raised a total of €1 billion under its recently increased €8 billion EMTN program. The issue included a €500 million five-year tranche, a €500 million ten-year tranche and a concurrent €150 million capped tender offer on the €650 million senior notes due October 2025. Total demand for the issue was around €3.5 billion and the tender offer well exceeded the targeted amount, evidencing and further supporting the solid standing that CTP holds amongst international bond investors less than one year after first entering the market.
Real estate investors and developers across Europe are increasingly turning towards green bonds to help build portfolios of sustainable assets that accommodate a lower consumption of resources in the long term and have a limited impact on the environment. This trend is also clearly visible in the Central and Eastern European region, where a growing number of high-profile companies are choosing to finance their expansion plans with the help of green bonds.
Heimstaden Bostad has set new sustainability targets and will invest nearly €500 million (SEK 5 billion) to reduce the company’s greenhouse gas emissions by at least 46% by 2030, in line with the Paris Agreement ambition to limit global warming to 1.5°C.
Marius Persenea, Chief Operating Officer of Romanian real estate developer IULIUS talked to Property Forum about financing, sustainable development and future plans for different market segments.
Will Robson, Executive Director and Global Head of Real Estate Solutions Research at MSCI, talked to Property Forum about the assessment of environmental, social and governance (ESG) indicators in commercial real estate and its emerging role in the risk management of organizations.
Radu Boitan, Investment Director at Revetas Capital Advisors talked to Property Forum about the importance of Environmental, Social, and Governance (ESG) initiatives, proactive asset management and investment strategies.
Hannes Wimmer, Executive Director, Loan Syndication at Erste Group Bank AG talked to Property Forum about the segments driving the property investment market and the funding focus of banks on sustainable projects. He reveals that compared to Western Europe, the CEE region is lagging a bit when it comes to financing sustainable projects, but big changes can be expected during the next 6 to 12 months.
Gemini Park Tarnów will see the debut of the first Unisono shop in eastern Małopolska. The new tenant will occupy a 152 sqm unit. The store will open later this year.
The Gemini Park Tychy shopping centre is extending cooperation with its long-standing partner, the Silesia Jeans brand. The multibrand, which offers brands such as Levi's, Mustang, Lee and Wrangler, will soon open its second shop in the Tychy mall. The new store will be filled with clothes and accessories from two American fashion brands: Tommy Jeans and Calvin Klein Jeans. The new unit will be 140 sqm in size and is scheduled to open in the first quarter of 2023.
Building E belonging to the Nowy Rynek complex developed by Skanska in Poznań, although still under construction, is already attracting its future tenants. The international company Wunderman Thompson Technology will open its office here on approximately 2,000 sqm.
New appointments
108 Agency promoted Matej Indra to Head of Industrial Agency for the Czech Republic.
Michał Ozimek has joined the Valuation department at Corees Polska - Commercial Real Estate, taking up the position of Senior Valuation & Investment Analyst. Working in the agency's Warsaw branch, he will be responsible for supporting processes related to the development of property valuations.
P3 Logistic Parks strengthens its team in Poland. Having worked as Deputy Head of Leasing since 2019, Iwona Sadowska has now been promoted to the position of Head of Leasing.
Property Forum is a leading event hub in the CEE real estate industry with nearly 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Budapest, Bucharest, Bratislava and Prague, amongst other locations.
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