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.

Colliers International has carried out research into retail units in the Warsaw’s office buildings. The study covered approximately 300 buildings and a survey was carried out on a sample of 200 employees. Colliers experts asked respondents about their expectations about the quality of the retail and service units in their workplace and what they have available at present.

One United Properties and Auchan Romania plan to invest €100 million in a new mixed-use project in Bucharest called One Floreasca City.

Wratislavia Center, a mixed-use property in Wroclaw has been sold to FLE, an investment advisor headquartered in Vienna. FLE bought the asset on behalf of FLE SICAV FIS, a real estate fund headquartered in Luxemburg and owning a commercial real estate portfolio in Europe and the US exceeding € 2 bn.

The Iulius Company completed a new office building spanning on over 13,000 sqm in Openville Timişoara, the mixed-use project the company develops together with Atterbury Europe in the vicinity of Iulius Mall. United Business Center 1 (UBC 1) is the second building opened in Timişoara in 2017, after UBC 2 (18,000 sqm) opened in January. Following this latest achievement, the total office area delivered by Iulius on the local market over a single year now adds up to 31,000 sqm.

CBRE has been given a new mandate for the management of a retail, office and residential building in Wenceslas Square in Prague, where Van Graaf department store is the majority tenant. The change of the building manager occurred as part of its sale. The new owner is a fund managed by BMO Real Estate Partners, part of the Bank of Montreal.

LaSalle Investment Management has acquired Palác Andel in Prague from Aberdeen Asset Management Deutschland, the German subsidiary of Aberdeen Standard Investments. This mixed-use scheme in the Prague district of Smíchov–Andel is the first Czech Republic asset for LaSalle E-REGI fund. The total purchase price reached €57.8 million. Cushman & Wakefield and Clifford Chance represented the seller. White & Case, JLL, TPA represented the buyer.

Granit Polus is about to transform the most valuable plot of land in Budapest by a large-scale mixed-use development. The new district will host office buildings, retail units, residential areas and hotels.

Albanian company Balfin Group has acquired a 155 000 sqm plot of land, 1.5 km from the centre of Skopje. The company plans to develop the first mixed-used real-estate development project in excess of 250,000 sqm gross build area, estimated to be largest private investment of this type in Macedonia. The development plans include a new 45 000 sqm gross leasable area shopping mall, residential block and an office park. The overall total investment of the company is planned to be circa €180 million over a time-span of 5-7 years, with €100 million investment in first phase, creating thousands of new jobs and opportunities. The company states that the shopping mall will be developed first, and the apartments and office towers over the next 5-7 years.

French real estate group Catinvest plans to expand Electroputere Parc, the company’s shopping mall in Craiova, by 9,200 sqm. The group has also started the construction of an additional mixed-use building which will comprise 12,000 sqm of retail space, 15,000 sqm of Class A office space and over 700 underground parking spaces. Total investment in will exceed €70 million by the end of 2018.