Echo Investment has had another successful year. The obtained net profit of PLN 189 million mainly results from handing over to customers 1,622 apartments built by Echo Investment, as well as 1,128 apartments of Archicom, an increase in the value of office buildings and stronger performance of the Libero shopping centre.

Almost 40,000 sqm was leased in retail and 25,000 sqm in the office segment. From the beginning of 2022, the entire office portfolio fully relies on green energy.

Romania's commercial property market has remained liquid throughout the pandemic period, with total investment volumes reaching €1.83 billion over the 2020-2021 period, up 8.7% versus 2018-2019, according to a report by real estate consultancy Cushman & Wakefield Echinox.

Czech investor PPF Real Estate has purchased a construction site land with a building permit in Bucharest, for the development of a new office building named ARC from property developer RC Europe. The project is due for completion in 2024 following an estimated investment of €60 million. 

Warimpex, a real estate development and investment company based in Vienna, has appointed Savills as the exclusive leasing adviser for office space in its new office complex located in Białystok at the junction of Bohaterów Monte Cassino and Wyszyńskiego streets. The phased project is expected to break ground this year.

The office complex BB Centrum in Prague 4, newly renamed Brumlovka, will be expanded by two more buildings. The developer Passerinvest, which has been building here for three decades, plans to build multifunctional buildings Hila and Orion, reports local daily E15.

HB Reavis has just obtained the occupancy permit for Forest tower, one of its flagship investments that is almost fully leased. With fit-out works now in progress in the 55,000 sqm Tower, the campus offers its full complement of 78,000 sqm GLA.

Earth Hour, initiated by WWF, was joined by CPI Hungary and new energy market provider Energo Hungary.

Szymon Wojciechowski, Founder & CEO of APA Wojciechowski Architects talked to Property Forum about the war in Ukraine, the ideas of sustainable design in architecture and the ongoing changes in the Polish property market.

Globalworth’s net profit in 2021 significantly improved to €47.5 million (2020: net loss of €46.8 million) while it recorded its best year in office leasing with 214,500 sqm of spaces taken up or extended. The company has released its annual report and audited consolidated financial results for 2021.