ARTICLES LABELLED WITH TAG residential

The process of accelerated book-building for Archicom shares has been completed, as a result of which Archicom, Echo Investment and DKR Investment, i.e. companies belonging to the Echo Investment Group, set the sales price of existing Archicom shares and the issue price of 10 million new series D and E shares at PLN 22 per piece. Archicom will use the funds obtained in this way primarily to intensify ​​land acquisitions for further investments.

Spanish developer Hercesa has obtained a loan worth 33 million lei (€6.6 million) from Libra Internet Bank for the construction of a new residential project in western Bucharest. 

Savills has prepared an overview of how the real estate market should react to the changing age structure of the global population. This study carried out as part of Savills Impacts programme, is about the prediction of residential supply and related services and hybrid working models. The fact that many Western countries are some of the fastest ‘ageing’ in the world isn’t news. In 10 years' time, the largest proportion of the Czech Republic’s population will be between 50 and 59 years old. Other countries in CEE are in a similar position. In Germany, Austria, Italy or France, the dominant age group will be 60 to 69. Meanwhile, at the other end of the scale, many African nations are seeing increases in their youthful populations. 

UBM Development Czechia has completed the rough construction of the Timber Prague project of wooden apartment buildings, which are being built as part of the Arcus City residential complex in Prague-Reporyje. These modern chamber buildings made of solid CLT panels express the first multi-storey apartment buildings made of wood in the modern history of the capital city. They comprise a total of 62 units with layouts from 1 + kk to 4 + kk, ranging in size from 39 sqm to 110 sqm and each of them has its own cellar, parking space in the underground garages and a balcony, terrace or front garden. To date, a quarter of the apartments have been sold. The project is being built to BREEAM Excellent standard.

The first phase of the Le Jardin residential park has secured a BREEAM 'Very Good' certification. This is the first such project to get this type of certification in Hungary.

Romanian developer Redport Capital will start this fall the construction of the third phase of The Level Apartments complex in northern Bucharest. The company says it has already pre-sold 40% of the apartments in the new phase that will be completed following an €12 million investment. 

Marcin Malka, President of the Management Board of Real Management talked to Property Forum about competing with bigger players, the situation on the investment market in Poland and the lack of plots for new projects.

Consolidation of the residential business, maintaining a high rental level in all completed Resi4Rent projects, starting new "destination" projects – this is a summary of the operational activities of Echo Investment Group in the first half of 2023. The Group's development plans are supported by a high cash balance of over PLN 662 million. 

Vastint Poland is launching its first project in the Private Rented Sector (PRS). The Pastelowo estate will be built on Pastelowa Street in Poznań, in the immediate vicinity of the Business Garden complex. The development includes 255 apartments, which will be entirely for long-term rental. The project will be ready in early 2025, at which time the first contracts with future tenants are scheduled to be signed.

Trei Real Estate has just presented its mid-year financials for 2023. Despite a difficult market environment for developers, Trei continues its developments of residential real estate in Germany, Poland and the United States as well as of retail real estate in Poland. The development pipeline amounted to a total value of €1.9 billion by 30 June 2022, which represents a drop of c. €100 million since 31 December 2022. The decline is essentially explained by the completion of three retail parks in Poland as well as by the completion and the highly successful sale of the “Atlantic Beach House” residential project in Charleston/South Carolina, whose disposal generated around 35 per cent IRR for Trei. Out of the total development pipeline of €1.9 billion, the residential use class accounts for €1.7 billion while retail developments in Poland account for €200 million.