This year, we can observe a decrease in investor activity in the commercial real estate sector throughout Europe. The value of the investment volume in the first quarter of 2023 decreased in Poland by over 60 per cent year-on-year, and in some Western European markets by as much as 90 per cent. The Polish market boasts higher rates of return than those offered by Western Europe and still compares favourably with European markets. According to Walter Herz, investors are looking for opportunities in the Polish commercial real estate market.

Preliminary agreement regarding the consolidation of Echo Investment's and Archicom’s residential business, high level of cash amounting to PLN 778 million, PLN 11.5 million in net profit which was mainly the result of the revaluation of Resi4Rent projects and handing over to customers nearly 300 apartments – this is a brief summary of Q1 2023 results of Echo-Archicom Group.

Piotr Staniszewski, Partner, Real Estate, Dentons talked to Property Forum about the awareness of the PRS investors in Poland, planned legislative changes and the current financing conditions.

Australian firm Equiem, which offers tenant services for office buildings, has acquired SpaceOS, a European company for workplace management software, in a deal that adds Hitachi as a partner, Reuters reports.

East Capital Real Estate Fund IV signed an agreement with real estate developer Hepsor for the acquisition of a modern last mile and stock office building, StokOfiss U30, located in Riga, with a total lettable area of 3,642 square metres. This is the second of two acquisitions for the fund over the past two weeks.

Czech logistics developer Logport Development has launched a new project in Prague's Jinočany area, at the former Poldi Kladno smelters, one of the largest brownfield sites in the Czech Republic.

Lavinia Ioniță Rasmussen, Partner at NNDKP's Real Estate practice, spoke with Property Forum about the increasing investor interest in the renewable energy sector, the outlook for the real estate transaction market in 2023 and the law firm’s performance in the real estate segment.

Hyatt Hotels Corporation announced the opening of Secrets Sunny Beach Resort & Spa, Dreams Sunny Beach Resort & Spa, AluaSun Helios Beach and Alua Helios Bay, representing the entry of the Inclusive Collection, part of World of Hyatt, into a third European country, complementing the existing presence of Hyatt’s all-inclusive resort brands in Spain and Greece. 

SOF Connect, the operator of Sofia Airport, announced its plans for accelerated investment in Sofia Airport by the end of 2025. More than €50 million annually will be invested in the expansion of the airport in the next three years. This will increase to €60 million or two-thirds more than what is stipulated in the concession contract.

Baltic Horizon Fund has signed an agreement with East Capital Real Estate Fund IV to sell 100% shares of BH Duetto UAB which owns the Duetto I and II office buildings in Vilnius, Lithuania. The sales price of the assets is approximately €37 million, which is close to the latest valuation.