ARTICLES LABELLED WITH TAG retail

The construction works of Etele Plaza has begun next to the Kelenföld railway station at the western gate of Budapest. As Futureal Group’s latest commercial development, the shopping and entertainment centre with a gross building area of 155,000 square meters will be the biggest of its kind on the Buda side of the city. The mall, combining unique architectural solutions and digital services will feature more fashion brands in one place than any other shopping centre in Hungary.

Automation and digitisation penetrating all spheres of life also have a material impact on the economy. Experts of Cushman & Wakefield have identified five key factors that will shape the retail and warehouse market growth going forward.

Colliers International has carried out research into retail units in the Warsaw’s office buildings. The study covered approximately 300 buildings and a survey was carried out on a sample of 200 employees. Colliers experts asked respondents about their expectations about the quality of the retail and service units in their workplace and what they have available at present.

Belgrade’s real estate market continues to grow cautiously. Prime yields currently stand at 8.50% for offices, 8.00% for shopping centres and 9.75% for industrial assets, according to JLL’s Belgrade City Report for Q1 2018.

ECE plans to develop a new shopping centre in Budapest. The project area is located in the North-western part of the Hungarian capital, close to the Danube River, on the site of a former textile factory in the Óbuda district. It is planned to have over 170 shops on three levels and a leasable area of more than 50,000 sqm. Construction start for the project is scheduled for 2019, and the opening is planned for 2021.

Over the last 20 years, the Polish cinema market has maintained strong growth momentum with an average 8.7% y/y increase in ticket sales in 2017 and cinema attendance hitting 56.6 million. Today, there are more than 1,300 screens in nearly 500 cinemas across the country. Multiplexes with two or more screens make up only approximately 25% of all cinemas in Poland but account for 75% of all screens. Most of them (80%) are located in shopping centres. Despite its rapid expansion, this market still has a big growth potential considering saturation levels in Poland and Western Europe.

Atrium European Real Estate Limited has entered into an agreement to sell Atrium Militari shopping centre in Bucharest, Romania to MAS Real Estate Inc., for €95 million, representing a 9% premium to book value on 31 December 2017. The transaction is subject to the fulfilment of certain conditions precedent which are expected to be finalised by the end of the third quarter of 2018.

Immofinanz has opened two further retail parks in its Stop Shop brand. The Stop Shop portfolio has now grown to 72 locations with roughly 500,000 sqm of rentable space in eight countries. The new properties are located in the Serbian cities of Požarevac (7,200 sqm) and Vršac (8,250 sqm). Both locations are 100% rented. The tenants include, among others, LC Waikiki, Reserved, Sinsay, CCC, Deichmann and DM.

During the first quarter of 2018, the Polish retail market witnessed investment transactions totalling over €1.7 billion. This is the largest volume ever recorded in Q1 on the market. JLL summarised Q1 2018 on the retail market in Poland.

So far in 2018 CBRE won the management of further 10 properties (industrial and shopping centres and an office building) in Budapest. The Budapest office now manages a 600,000 sqm portfolio in Hungary.