ARTICLES LABELLED WITH TAG retail

Members of the panel on ESG investments at CEE Property Forum 2022 in Vienna agreed that environmental issues are addressed much better than the social and governance parts of ESG. Panellists emphasised that leading organizations in the CRE industry should give clear guidance for improving 'S' and 'G' performance at all levels.

Oasis Retail Development & Consulting, owned by Sibiu-based Klaus Reisenauer and Kurt Wagner, has started the second development phase of the Prima Shopping Center project in Sibiu, following an investment of €30 million.

As part of its value-creating growth strategy with a focus on high-return properties, Immofinanz is acquiring 53 retail properties in the Czech Republic, Poland, Slovakia and Hungary from its majority shareholder CPI Property Group (CPIPG). The acquired portfolio has roughly 217,000 sqm of rentable space and is fully let with an occupancy rate of 99%. The purchase price totals €324.2 million. The purchase contract was signed today, together with the closing for 36 retail properties in the Czech Republic and Poland which have 108,000 sqm of rentable space. The purchase price of €191 million for those properties was financed from existing funds. The closing for the remaining 17 properties in Hungary and Slovakia is expected to take place by the end of this year.

Major international fashion and beauty brands will be coming to the shopping centre this autumn. The centre has been refurbished and developed by Hungarian company Wing.

Revetas Capital announced a 29% increase in turnovers and an 18% increase in footfall for the first 8 months at Park Center Sofia, Bulgaria, compared to the same period in 2021.

Trei Real Estate GmbH, an international developer and asset holder for residential and retail real estate, just opened another three retail parks of the Vendo Park brand in Poland. The properties are located in Otwock (Masovian voivodeship), Skarżysko-Kamienna (Świętokrzyskie voivodeship) and in Chorzów (Silesian voivodeship). The investment volume adds up to c. €28.4 million.

Dr. Angelus Bernreuther, Head of Investor Relationship Management at Kaufland talked to Property Forum about the key drivers of retail, the increasingly important role of digitalization and also shared the company’s expansion strategy for the CEE region.

French investment firm FREY has acquired Park Handlowy Matarnia in Gdańsk from Ingka Centres for €105 million. This is FREY’s first acquisition in Poland.

The boundary between online and offline shopping is becoming increasingly vague. There is an evident retail trade trend toward the omnichannel, i.e. combining various sales channels tailored to the consumer's individual needs. This requires the development of e-commerce which has significantly accelerated recently. In the last 5 years, the share of online sales in Central and Eastern Europe grew by 9 pps to 15%, and in 4 years' time is bound to amount to 20%, according to CBRE's forecasts. Poland and Czechia are leaders in terms of online shopping growth in the region. E-commerce's market share in these countries in 2026 may be as high as almost a quarter.

Domy Towarowe Wars Sawa Junior has welcomed adidas Warsaw - the largest store and the first adidas brand centre in Central and Eastern Europe. The brand also opened Sports Base Warsaw – the generally accessible space for fans of an active lifestyle in the store and at the downtown Pasaż Wiecha, where temporary sports installations have been created.