The pandemic has caused a lot of change on the market but these changes can easily be viewed as an opportunity for further growth as Jonathan Hallett, Head of Central & Eastern Europe at Cushman & Wakefield demonstrates. He talked to Property Forum about the results of the last year and shared his expectations for the future of work and the CEE advisory market.

The European Bank for Reconstruction and Development has successfully subscribed to a €24.7 million ticket as part of an inaugural five-year €300 million green bond issuance by MAS Securities BV. The firm is wholly owned by MAS Real Estate Inc., an investor and operator of predominantly retail real estate assets that focuses on CEE.

Retailer Penny, part of Rewe Group, has announced a long-term investment program in Romania that includes the expansion of the store network and the development of logistics operations. 

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.

Shopping centre footfall in February in Poland, prior to the fourth lockdown, averaged approximately 80% of last year’s levels. Shoppers will return to shopping centres once restrictions are lifted, say experts of Cushman & Wakefield.

LCP has signed a purchase contract for a retail park in Rawa Mazowiecka, located between Warsaw and Łódź. It offers over 2,700 sqm of GLA and 45 parking spaces. The size of the entire plot is over 5,200 sqm. Among the tenants are Kik, Dealz, Martes Sport and CCC.

Close to 70,000 sqm of new retail space was delivered to the Polish market in Q1 2021, reveals Cushman & Wakefield. The new supply was dominated by small retail parks and standalone stores.

At the end of March 2021 the Dino network numbered 1,532 stores, up 298 versus March 2020. 59 new stores were opened in Q1 2021. The EBITDA margin in Q1 2021 was 8.8%, i.e. 0.2 percentage points above the corresponding period of 2020.

Globalworth, the owner and property manager of Renoma in Wrocław, has chosen Tétris as the general contractor for the renovation of the building. Following this decision, the main stage of work on the metamorphosis of this architectural landmark of the city has now started, in time for the building’s 91st anniversary.

BPI Real Estate Poland and Revive have selected the design prepared by the SUD Architekt Polska studio for their joint investment, which will be conducted under their joint-venture on ul. Jana Matejki in the Poznań district of Łazarz. The Belgian developers intend to build a truly urban modern complex on a gigantic area of 5.5 ha. This investment project calls for combining residential and commercial functions and revitalizing historical buildings consisting of the former military barracks. This concept also calls for planting a large amount of greenery, including trees and creating numerous generally accessible areas for all of the residents of Poznań to be able to use. BPI and Revive’s investment will be carried out in three stages and its completion is slated for the end of 2029.