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News GTC reports €400 million of financing and refinancing
29
Aug
2017

GTC reports €400 million of financing and refinancing

by Ákos Budai
It the first six months of 2017 GTC refinanced and concluded loans for almost €400 million through euro bonds offering, project loans and construction loans.
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News No empty warehouses left in Budapest
29
Aug
2017

No empty warehouses left in Budapest

by Ákos Budai
The industrial real estate market in Hungary hit the vacancy rate of 5.5% in the first half of 2017, which is the lowest number on record since it has been measured by the Budapest Research Forum (BRF). In total, less than 73,000 sqm space is currently vacant in the Budapest metropolitan area of the 1.95 million sqm total modern logistics area, and only four Class A buildings can offer more than 5,000 sqm contiguous warehouse space. The lack of available space is due to the strong absorption of the last few years, and at the same time there are still limited number of speculative projects in progress or have building permits, says Tamás Beck, Director of Industrial Agency at Colliers International Hungary.
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News Industrial developers get busy in Poland
24
Aug
2017

Industrial developers get busy in Poland

by Ákos Budai
In the first half of 2017 the warehouse market was unquestionably the fastest growing commercial property sector in Poland. The highest volume of industrial and warehouse space was delivered to the market around Poznań, i.e. 133,000 sqm, while the largest scheme of 161,000 sqm is currently under construction in Szczecin. The record numbers in respect of the schemes delivered to the market are not discouraging developers from commencing new projects.
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News New brands to enter the Romanian hotel market
23
Aug
2017

New brands to enter the Romanian hotel market

by Ákos Budai
The hotel market in Romania could become more diverse throughout the next year as a result of new brands entering the market by means of leasing or partnership contracts with real estate developers as an alternative to the management or franchise contracts. Such a business model will lead to the relaunch of the hotel market and will offer, at the same time, the possibility for real estate developers to diversify their portfolio, according to Colliers International. 
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News Czech Republic takes the lead in Central Europe
22
Aug
2017

Czech Republic takes the lead in Central Europe

by Ákos Budai
The Czech Republic has become the top performer of the Central European region in terms of the volume of investment that has flowed into commercial real estate since the beginning of 2017. Unlike the preceding years when Poland was the clear number one, the largest amount has been invested in the Czech Republic, even though the country’s market is roughly one half the size of its larger neighbour’s market. 
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News Dynamic growth on the Romaian property market
21
Aug
2017

Dynamic growth on the Romaian property market

by Ákos Budai
Real estate activity during the first half of 2017 was very dynamic in Bucharest as well as throughout Romania. New deliveries, extensions and transactions have led to considerable growth in the main sectors – industrial, retail, office and investment. According to Colliers International, the upward trend will continue for the remainder of the year and will be doubled by new demands.
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News AFI Europe Romania publishes H1 2017 financial results
21
Aug
2017

AFI Europe Romania publishes H1 2017 financial results

by Ákos Budai
AFI Europe Romania published its Q2 and H1 2017 financial results, generating a Net Operating Income (NOI) from its income producing assets in Romania of €12.5 million in Q2 and close to €25 million in H1, representing respectively 10.4% and 11.5% higher results compared to the same periods in 2016.
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News GTC plans eight new projects in CEE
21
Aug
2017

GTC plans eight new projects in CEE

by Ákos Budai
According to CEO Thomas Kurzmann the first half of 2017 was dedicated to advance planning and permitting on development pipeline projects as well as acquisition of enew office locations in the fastest growing office markets of Budapest, Bucharest and Sofia. GTC published its financial results for H1 2017.
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News Poland in Europe's top three for industrial space demand
17
Aug
2017

Poland in Europe's top three for industrial space demand

by Ákos Budai
1.72 million sqm of industrial space was leased in Poland in H1 2017 which is the best result in market history. Net take-up totalled 1.3 million sqm which is the third best result in Europe. Total demand is likely to be 3 million sqm by the end of 2017.JLL summarised H1 2017 on Poland's industrial market.
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News Prague office market vacancy rate decreases
17
Aug
2017

Prague office market vacancy rate decreases

by Ákos Budai
High demand for new premises and steady new supply are pushing the Prague office market vacancy rate down. According to JLL’s latest report, the vacancy rate currently stands at 8.6 %, being one of the lowest levels in the history of the market.
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Latest news


New leases

  • A 200-square-metre Office Shoes store offering branded women's, men's, and children's footwear has opened in the Forum Gdańsk shopping centre. This is the chain's first shop in Gdańsk.
  • IWG has leased 906 sqm for a new Regus space in VOX Technology Park in Timișoara.
  • Auchan will open a new 7,000 sqm hypermarket at the end of next year in Sun Plaza, the shopping mall owned by CPI Romania. This move is part of a broader strategy to reposition Sun Plaza, which will undergo a phased modernization process starting in June. The space was previously leased by Carrefour.

New appointments

  • CBRE Romania has announced the promotion of Ramona Hîrnea to the role of Head of Investor Retail Leasing for its national operations. With over 22 years of experience in commercial space leasing, Ramona brings a comprehensive perspective on the retail market, gained both from her position as a consultant for property owners and as a representative of tenants.
  • Marcin Janik has taken up the position of head of the southern Poland region at CBRE. He will be responsible for Silesia, Małopolska and the previously serviced Wrocław.
  • GTC Group has appointed Miklos Egri as Chief Operating Officer. The new manager will be responsible for the company's day-to-day operational and administrative management in the Central and Eastern European markets.

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