Western Europe has been witnessing several city-in-the-city concepts and CEE is following suit. There are good examples across the continent but this special type of development needs meticulous preparation and high-class execution. Property Forum asked Zoltán Petrik, Head of Sales and Real Estate Development at EB Hungary Invest Ltd. about the most important challenges of preparing and materialising such complex projects.

Speedwell says it has completed the construction works for the first 123 apartments in the mixed-use urban regeneration project Paltim, based in Timișoara. The delivery of the apartments is expected in Q1 2024.

The Hexagon Group, controlled by Romanian entrepreneur Florin Mariș, has purchased a land plot spanning close to 7 hectares in Cluj-Napoca. The buyer plans to develop an urban regeneration project on the former industrial site. The value of the transaction was not made public.

Romanian developer Iulius is closer to kick off the construction of a mixed-use project in Cluj-Napoca after relocating a manufacturing facility in another part of the city. The Carbochim plan was relocated and upgraded following an investment of €5 million.

Erste Group Bank AG has granted a new loan to Cavatina Holding S.A., this time for the realization of Cavatina’s flagship project in Wroclaw. The financing, which was initiated back in October, will ultimately provide the Polish developer with funds for refinancing the costs of the Quorum D office building (up to €25 million) and for further financing of the Quorum A construction (up to €20 million), as well as an additional €3 million to cover VAT. The multifunctional Quorum complex, rising on the banks of the Oder River, is the largest project of its kind in the city.

The concept design solutions for the new mixed-use Horizontai project in Vilnius' CBD by real estate developer Releven received the approval of the municipality. The company expects to receive a construction permit for the construction of the €200 million project this year.

District regenerations and mixed-use developments require a complex approach even from the most experienced developers. Property Forum asked David M Johnston, Senior Director and Head of Advisory and Transaction Services at CBRE Hungary about the risks of such projects and he also shared some best practices from across the CEE region.

There is growing interest in mixed-use projects in the Czech Republic. These are spaces that combine offices, shops, housing, and various forms of social activities. Unfortunately, the construction of such spaces in the Czech Republic still lags behind that in neighbouring countries. The main reason for this is the very long building permitting processes. In Poland, for example, it takes only a few months to get a building permit, whereas here it usually takes years.

The upcoming launch of the first hotel in Poland for the Barceló chain, operating under the brand name Barceló Hotels & Resorts, marks the final phase of investment for the Elektrownia Powiśle complex in Warsaw. It represents the completion of all planned construction work for the revitalization of the former power station site, which was conducted by Tristan Capital Partners’ EPISO 4 Fund and White Star Real Estate.

Echo Investment and AFI Europe presented their new, refreshed project of a large mixed-use investment in the very centre of Warsaw, in a quarter bounded by the streets of Towarowa, Pańska and Miedziana. In this location, offices and apartments for sale and rent are to be created as well as restaurants and service outlet units. The remaining industrial infrastructure in Wola is to be integrated into the Słowa Polskiego public park.