ARTICLES LABELLED WITH TAG land

Romanian developer Forte Partners has acquired a 1,700 sqm plot in the city centre of Bucharest for office development. The plot, sold by Telekom Romania, is located next to Palatul Telefoanelor and the Novotel hotel. It allows the development of up to 9000 sqm of office space.

Skanska has acquired land in Prague, Czech Republic, from Codeco UK. The total investment amounts to CZK841 million (app. €31.1 million).

Echo Investment – a Polish developer – and Echo Polska Properties – an international fund operating as a REIT - signed agreements to jointly buy and jointly develop a real property at ul. Towarowa 22 in Warsaw from Griffin Real Estate, a Polish private equity fund. The buyers will pay €120 million for the property – €78 million upon signing the agreement, while the remaining amount will be paid after certain planning conditions are met.

Last year there has been a significant increase of interest from investors for logistics properties and properties for development, which signals the emergence of the automotive and e-commerce industry as well as the start of large-scale real estate developments – says DLA Piper’s annual Hungarian Real Estate Intelligence Report. According to DLA Piper, the increased acquisition activity from developers will translate into new commercial assets being introduced into the market around 2017 Q4 and 2018 Q1.