ARTICLES LABELLED WITH TAG land

Major real estate developers continued to be active in Bucharest throughout 2019, providing the land needed for new projects consisting of over 6,000 apartments and 130,000 square meters of offices. Overall, in 2019, 24 major transactions were made in Bucharest with land intended for the development of residential, office or mixed projects, some of them having the potential to include a hotel component, according to Cushman & Wakefield Echinox.

Skanska has acquired about 26,200 square meters of land in Bucharest, Romania, from Intero Property Development Estates SRL. The total investment amounts to €24 million.

Cushman & Wakefield has advised on the acquisition of a 17-hectare plus land in Biskupice Podgórne near Wrocław. The new owner of the land is Segro, a developer and owner of warehouse parks in nine countries across Europe.

Mountpark Logistics, a developer of industrial and logistics property, has acquired a 30 hectare site at Bernolakova, Bratislava, which has the potential to deliver up to 120,000 sqm of new logistics accommodation.

Labour shortage and rising costs in construction are problems developers in CEE have had to learn to live with over the past years. Dr. Zoltán Nádasdy MRICS, Partner, Head of CEE Real Estate Investments Group at Noerr talked to Property Forum about the legal challenges investors and developers face on the Hungarian, Romanian and Polish markets.

Commercial land prices have been stable over the first half of 2019, while prices for residential sites continue their rising trend at a slower pace, according to Colliers International.

Skanska has acquired about 13,000 square meters of land in Prague, Czech Republic, from HB Reavis Group B.V. The total investment amounts to €19.5 million.

Prologis announced the acquisition of 2.4 hectares in the highly sought-after Prague logistics market. The site is next to the D1 highway, the Czech Republic’s main arterial route.

Decreasing supply of attractive land parcels combined with growing prices are directing investors' attention to areas with objects that require either demolition or revitalization. Multi-functional projects are still gaining popularity in Poland, according to JLL’s report.

Developers and real estate investors completed land acquisitions with a cumulative value of around €245 million last year in Bucharest, a new record for the past ten years, according to the Cushman & Wakefield Echinox which has monitored 31 medium and large transactions.