Real estate developer Hagag Development, part of Hagag Group Israel, breaks ground on its largest residential project to be developed in Romania: H Pipera Lake. Out of the total number of 390 apartments to be delivered in the first phase, 45% have already been sold.

In Q2 2019, developers operating on the six largest markets in Poland sold the total of 15,100 units, i.e. 8% less than in the previous quarter. The new supply in that period equalled 14,900 units – hence, the offer volume remained at the level of the previous quarter. The latest JLL’s report entitled “Residential Market in Poland Q2 2019” shows that prices of residential units are still growing, but at a much slower rate. This makes it possible for developers to maintain margins at a satisfactory level.

Czech investor Zeitgeist Asset Management announced a new investment on the housing market in Poland. The planned residential asset at ul. Wrzesińska 2, will expand the company’s offer of rental housing. JLL experts advised the investor on the purchase of the property.

Golub GetHouse’s new real estate brand, Inspirentals, will be the vehicle for development projects in the Private Rented Sector offering a range of amenities available to all residents that are rare on the Polish market. The Warsaw-based Postępu Apartments (working name) and Liberty Tower projects, among others, will be completed under the new Inspirentals brand.

In the first quarter of this year, residential developers on the six major markets in Poland sold 16,500 new flats, repeating the result attained in Q4 2018. During this same period, a similar number, 16,800 units, were put up for sale. Poznań and Łódź are experiencing a late boom, as sales on these markets reached record highs in Q1 2019, according to JLL’s latest report.

Following the financing agreements worth €51 million announced in January, Hungarian residential property developer, Cordia has signed further loan agreements worth €86.6 million. Futureal Group’s subsidiary has concluded the recent contracts with OTP Bank, Takarék Group and Sberbank in order to finance its 5 residential property projects in Budapest.

Following the recent takeover of the Sugarmaker Palace, UBM Development is preparing another large project, namely the Astrid Garden multifunctional complex, consisting of two parts – Astrid Offices and Astrid Residences. In the first stage, a five-storey office building will be constructed, followed by a residential complex of about 110 units the sale of which will be launched in the third quarter of 2020. The architectural form was designed by Bogle Architects, emphasising not only the modern look, lightness and airiness, but also the sensitive setting in the typical character of Holešovice.

Local developer Biggeorge Property has unveiled plans for a new city centre development in Budapest’s Óbuda district. The 5 ha project would include 1400 apartments and 10,000 sqm of commercial space upon completion. Handover of the first phase with 257 apartments in three buildings is scheduled for 2010.

Brickblock, a technical service provider based in Berlin, has tokenised a residential real estate vehicle carrying a property in Wiesbaden, Germany. It is the first transaction in the EU for which shares are represented on the blockchain. The sale of the €2 million property was exclusive to eligible investors.

Israeli developer Hagag Development Europe has received the building permit for the Victoriei 139 residential project which will see the transformation of an old building located on Calea Victoriei in central Bucharest.