A Hungarian real estate fund, advised by VLK Cresa, has acquired the Target Center retail park in Kecskemét, Southern Hungary. The name of the seller and buyer or the purchase price has not been disclosed.

The region’s largest shopping centre Galerija Belgrad will open on 30 October. With a total area of 300,000 sqm, Galerija Belgrade will offer local and international brands in one place, dozens of cafes and restaurants, two entertainment complexes, a cinema with the most advanced IMAX technology and as many as 3,600 parking places.

AFI Europe Romania has inaugurated its AFI Brasov mixed-use project on 21 October. The project, located near the city’s historic centre, includes a modern shopping centre with 45,000 sqm GLA and 15,000 sqm GLA of office space rising above the retail floors.

CBRE launches a range of omnichannel services in Romania, for retailers who want a quick adjustment to the new market context by expanding industrial spaces. Omnichannel services have already been present for three years in the global CBRE network, mostly in the United States and the United Kingdom, and the COVID-19 pandemic has accelerated the synergy between retail and industrial worldwide.

The share of internet sales has returned to near pre-pandemic levels. At the same time, Polish customers are more willing than before to turn to convenience shopping in smaller retail formats. JLL summarised conditions on Poland's retail market at the end of Q3 2020.

Trei Real Estate GmbH and JLL jointly published a new market report on retail parks and convenience centres in Poland, according to which the segment has followed an upward trend for years, and not even the coronavirus pandemic has impacted its performance. One of the reasons for this is that the stores located here often stock food and everyday products. Moreover, the retail units generally have their own entrances and are directly accessible from the parking lot. Shoppers appreciate this aspect because it makes it easier for them to minimise exposure.

Local developer Sekyra Group has acquired the Stýblův dům townhouse on Wenceslas Square in Prague for around €16.6 million (CZK 450 million). The company is planning to invest €31.3 million (CZK 850 million) in restoring the building.

Etele Plaza, developed by Futureal in Budapest’s Kelenföld area, has reportedly reached an occupancy rate over 75%. The shopping centre, planned to be completed by Q3 2021, will feature every Inditex brand available in Hungary, including a Zara fashion store featuring a brand new design concept.

According to Savills, the impact of the pandemic is set to accelerate online retail penetration by an average of one year and, in turn, drive demand for prime logistics space in Europe.

Eight regionally renowned experts discussed real estate investment strategies for the post-COVID-19 world at the online edition of CEE Property Forum 2020, organised by Property Forum and RICS. We summarised the highlights of the discussion, moderated by Luke Dawson, Managing Director & Head of Capital Markets CEE at Colliers International.