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.
Cushman & Wakefield Echinox moves its headquarters to the office building developed by businessman and former tennis player Ion Tiriac near Piata Victoriei in Bucharest. The company rented here a space between 300 and 500 sqm.
CBRE Romania will move from this summer to a new headquarters. The company rented almost one floor of One Tower, which has 1,400 sqm.
Furniture retailer Mobexpert leased 2,000 sqm of warehouses and offices in Constanța Business Park, developed by Global Vision and Globalworth. Following recent transactions, Constanța Business Park has reached an occupancy rate of 70%.
New appointments
Olga Szczęsna has joined JLL Poland's Office Agency Department, where she has taken up the position of director. Olga will be responsible for the commercialization of buildings from the Patrizia portfolio, including N21, Metron and G9, as well as the Central Point building, currently under construction in the centre of Warsaw.
JLL Romania consolidates its industrial team by recruiting Ciprian Sîrbu in order to provide Supply Chain services on the local market. Ciprian Sîrbu has over 10 years of experience in logistics, e-commerce, and industrial supply chain, completed by 7 years in which he worked in the IT field. His role within JLL is to provide advice to customers in streamlining the supply chain like the need for such services increases.
Simona Costache has joined Romanian developer One United Properties as Executive Director, Residential Sales. With 15 years of experience in real estate, Simona has been involved in sales, rental and facility management for residential developers in Bucharest.
Property Forum is a leading event hub in the CEE real estate industry with nearly 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Budapest, Bucharest, Bratislava and Prague, amongst other locations.
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