AEW’s Europe City Retail Fund has acquired a 3,000 sqm mixed-use building in the centre of Budapest for around €18 million. The sellers of the high street building were the Pallas Athéné Foundations, created by the Central Bank of Hungary.

Hungary’s Horizon Development has been granted a development loan by UniCredit for its ongoing Szervita Square mixed-use development in the centre of Budapest. At the same time, the developer has pre-leased all four office floors (8,500 sqm) of the project to coworking space provider Spaces.

Codic International, a Brussels-based developer, announced that construction has commenced on the office component of Green Court, their latest mixed-use development to be realized in partnership with the Hungarian Pesti Házak and the Austrian Venta Group. The project is located in Budapest on the Váci office corridor. The project incorporates Green Court Office, a 21,000 sqm GLA premium office development, and Green Court Residence, comprising two residential buildings with 275 apartments. The apartments will be occupied by the end of this year, and the office project is scheduled to be handed over in Q4 2020. Colliers International and Jones Lang LaSalle have been appointed co-exclusive leasing agents for the office development.

Hungarian bank OTP reportedly plans to purchase the largest real estate project from Gránit Pólus in the Slovenian capital through the acquisition of project development companies, according to local media. The Emonika project, valued at €250 million, would see the construction of 196,000 sqm of office, retail, residential and hotel space.

Belgian real estate developer Speedwell is investing €40 million in a mixed-use project in the Romanian city of Cluj-Napoca.

Polish developer Porto was granted a €29 million loan by the European Investment Bank via Bank Gospodarstwa Krajowego (BGP) for the construction of a mixed-use complex in Szczecin. Thanks to the application of pro-ecological technology, Posejdon will reduce CO2 emissions up to even 76% compared to a similar building constructed using a traditional technology.

Romanian developer Speedwell has launched the construction works of Record Park, a mixed-use development and urban regenerating project in Cluj-Napoca. The €42 million project is due to be completed in H2 2020. The project is being developed on a plot of 17,300 sqm and will have a total built area of 36,000 sqm.

Fosta Fabrica, the restoration and conversion project of the former Grivita brewery in Bucharest, received all necessary permits and it is expected to be completed in 2020 by Lithuanian developer Hanner Group.

Chapman Taylor’s design for a mixed-use community in Budapest has been unveiled. The urban regeneration masterplan would transform a derelict former slaughterhouse complex into a dynamic residential and office district with complementary retail and leisure provision and two underground levels of parking.

On June 5, 2018, Immochan becomes Ceetrus. A symbol of the transformation that the company has been going through for two years, this new name is meant to embody its evolution from a commercial real estate company to a mixed-use real estate developer.