ARTICLES LABELLED WITH TAG report

27
May
2021

Globalworth publishes response to takeover offer

by Property Forum
The Independent Committee of the Globalworth Board has published its response circular in connection with the unsolicited cash offer by CPI Property Group S.A. and Aroundtown SA at €7.00 per Globalworth share. The Independent Committee continues to believe that the offer significantly undervalues Globalworth, its assets and its prospects.
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26
May
2021

CA Immo continues portfolio growth in Q1 2021

by Property Forum
Supported by sustained portfolio growth in 2020 and the completion of profitable property sales and project pre-letting in Q1 2021, CA Immo is starting 2021 with a positive first quarterly result. All key financial figures were increased compared to the previous year, and the value of property assets rose to €5.7 billion. A sustainable result (FFO I) of at least €128 million is expected for 2021, and FFO I of at least €140 million for the post-pandemic financial year 2022.
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24
May
2021

Construction volume of Czech industrial market reaches all-time high

by Property Forum
According to Savills, the development pipeline for the Czech industrial market reached the highest level in history in Q1 2021. There were 47 industrial buildings in various stages of construction with a total rentable area of 734,200 sqm across the country. Speculative projects represented 36% of this construction pipeline, which was well below the 10-quarter average of 46%.
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21
May
2021

Small town workspaces possess huge potential

by Property Forum
As more people get vaccinated and offices are reopening, companies need to make a decision on how to manage their workforce. Employees that worked remotely for much of the past year will now circulate between work from home and commuting to the office. But do employees really want to work from home or from the office 5 days a week? CEE-based flex office provider New Work believes that the future belongs to flexible workplaces everywhere and they see demand for hundreds of flex office locations across each country in the region.
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18
May
2021

Huge spike in take-up of warehouses in Poland in Q1 2021

by Property Forum
Despite the COVID-19 pandemic, warehouse take-up hit a record high of 1.6 million sqm, reveals an industrial market summary for Q1 2021 released by global real estate services firm Cushman & Wakefield. The strongest leasing activity was reported in Poznań, the Warsaw area, Upper Silesia and Central Poland.
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18
May
2021

Construction costs in Bucharest are higher than in Prague or Warsaw

by Property Forum
Arcadis has published the annual results of the International Comparison of Construction Costs which demonstrates that the building industry has shown its resistance worldwide during the pandemic. Many governments took advantage of fiscal stimuli to support their economies, which has reflected an increase in infrastructure investment of the public sector. Within CEE, Vienna (#30) has by far the highest construction costs, followed by Zagreb (#64), Bucharest (#65), Sofia (#66), Prague (#66), Warsaw (#70), Belgrade (#72) and Krakow (#75).
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17
May
2021

90% of Budapest high street retailers ride out pandemic

by Property Forum
In the 11 shopping streets under the umbrella of the Shopping Street Management (BUM), some 90% of businesses survived the coronavirus pandemic, and the number of stores for sale or rent is decreasing in more and more places, BUM told Hungarian news wire MTI based on its survey carried out at the beginning of May.
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13
May
2021

Prague’s industrial vacancy rate falls to all-time low of 0.55 %

by Property Forum
The first quarter of 2021 saw record low vacancies in the greater Prague region, affirming consistent high interest in industrial premises in premium locations. High demand is pushing lease prices upwards, with lease prices having grown by 25 % per sqm year-on-year within the Prague cadastral district, for example. The Czech industrial real estate market is being impeded by drawn-out approval processes and a lack of new options in areas with the greatest demand.
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13
May
2021

Hungary's construction industry picks up in March

by Property Forum
Hungary's construction output in March was 11.5% higher than in the previous month, the Central Statistical Office (KSH) said on Thursday. Hungary’s construction industry has corrected the February slump and the rising trend remained unbroken, but the pre-crisis peaks are still some way off.
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13
May
2021

GTC records €15 million profit despite rental revenue decrease

by Property Forum
GTC’s rental and service revenues decreased by €3.8 million to €37 million in Q1 2021 from €41 million in Q1 2020. Profit before tax and fair value adjustments for Q1 2021 reached €15 million, up from €13 million in Q1 2020. The company published its financial results for Q1 2021.
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Latest news


New leases

  • 108 Agency Slovakia has secured a lease of 3,392 sqm for a confidential client in the Plus Centrum office building located in Bratislava.
  • Wella Company, a beauty start-up will move to Brama Miasta by Skanska in Łódź. On approx. 1,500 sqm the company will open their newly created Shared Services Centre – as many as 200 people will work there, including their new IT Center of Excellence.
  • Dover, a diversified global manufacturer and solutions provider, has leased 1,170 sqm in Globalworth Plaza. The company has a global team of over 24,000 employees and an annual revenue of around $7 billion.

New appointments

  • Colliers Poland is developing its Workplace Innovation department – Karolina Dudek, PhD has just joined the team as Associate Director. She will use her skills in organisational diagnosis, knowledge of research methodology and design management expertise to support the shaping of sustainable work environments.
  • Cromwell Property Group has appointed Piotr Goździewicz as senior investment manager for Central and Eastern Europe. He will be responsible for executing a variety of investment strategies of Cromwell and its capital partners in the region with a focus on Poland, Czech Republic and Slovakia.
  • CBRE Czech Republic appointed Jiří Stránský the new Head of Sustainability. He will be responsible for creating and coordinating solutions for complex ESG strategies, which react to the ever-growing trend of corporate social responsibility and a sustainable approach to the environment in accordance with the Green Deal for Europe.


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