Real estate investor and fund manager Cromwell Property Group announced the sale of six retail centres across Poland, held by the Cromwell Polish Retail Fund (CPRF), to Star Capital Finance for €285 million.

White Star Real Estate has taken over the management of Galeria Sandecja in Nowy Sącz. This is another shopping center from the Focus Estate Fund portfolio, where WSRE assumes property management, and the first where it provides two management services in one facility for an external client.

Global apparel retailer Uniqlo announced plans to open its first-ever permanent store in Poland. The new store, Uniqlo Arkadia, will be located at Westfield Arkadia shopping centre in Warsaw, and will greet its first customers in fall 2024.

The execution of the extension of the Galeria Teplice shopping centre in northwestern Bohemia is planned for the third quarter of 2024. The project investor is the company Dandreet, and the general designer is Obermeyer Helika.

Indotek Group has completed a large-scale revamping of its Plaza M retail project in Târgu Mureș. The company has invested €16 million in the renovation of the shopping complex prevously branded as Promenada Mall.

The property map of ZDR Investments funds has expanded this year, thanks to acquiring three retail parks in the towns of Prevalje, Ravne, and Slovenj Gradec in the northern part of Slovenia.

In 2024, the total investment volume in Poland amounted to €364 million, marking the weakest result for the first quarter in recent years. Interestingly, 25% of the invested capital comes from Polish investors. The warehouse sector remains the leader, accounting for 38% of the total investment volume. Unchanged, the vast majority of office transactions took place in Warsaw, while commercial investments were dominated by retail parks. Additionally, the market also saw two transactions in the residential sector in Warsaw, and two hotels were sold in seaside tourist cities, says Paulina Brzeszkiewicz-Kuczyńska, Research and Data Manager at Avison Young.

The 4-day workweek is becoming an increasingly hot topic. Although in Poland it still appears to be a thing of the future, recent years have shown how quickly labour market trends are changing. AI is also broadly expected to have a significant effect on the workplace. BNP Paribas Real Estate experts are wondering, how will all of this impact the commercial real estate market.

Real estate developer Prime Kapital has opened Argeș Mall, a new shopping centre spanning 77,000 sqm in Pitești.

Over 16,400 sqm GLA currently supplies the Białystok market with the Wysocki Retail Park, which was created on the basis of the former Outlet Białystok project. The owner, Newgate Investment, planned and implemented the processes of reconstruction and recommercialization of the former outlet with an original GLA of 13,336 sqm. As a result of the changes introduced, the area of the facility increased by over 3,000 sqm and the NOI level increased by approximately 70%. Redevelopment projects initiated by Newgate Investment began in 2021. The final stage is currently underway. Newgate Investment manages a real estate portfolio consisting of 30 commercial facilities with a total lettable area exceeding 126,000 sqm. The rental level of the property is close to 100%.