M7 Real Estate announced the acquisition of two modern urban logistics assets, both on Slavonska Avenue, Zagreb, Croatia, on behalf of M7 CEREF II.

Real estate services platform Novaston was an exclusive support agent in the sales process of two retail properties in Serbia between two influential investors in the Balkan region: NEPI Rockcastle and BIG CEE. The binding agreement with the total consideration of the approx. €61 million euros for retail properties Kragujevac Plaza Shopping mall (with a GLA of 22,300 sqm) and Krusevac retail park (with a GLA of 8,600 sqm) was signed in June.

Palača Pošta, a unique high street commercial building in Ljubljana, Slovenia has become available for rent. The owner, Pošta Slovenije, who has been the sole user of the building until now, has retained KF Finance, to act as their exclusive real estate broker for leasing. KF Finance is the leading financial advisory company in the region, with a team of 50 finance professionals in offices in Ljubljana, Zagreb and Belgrade, offering clients a comprehensive range of financial advisory services.

Commercial property is viewed as having below-average risk levels in most CEE countries. Revenues from different asset classes are expected to recover to pre-COVID levels most rapidly in Poland, according to the RICS Global Commercial Property Monitor for Q1 2021.

Hungarian investor Indotek Group is ready to spend hundreds of millions of euros on diversifying its portfolio geographically. Krisztián Hornok, Transaction Director and Florin Tirla, Country Head for Romania & Bulgaria shared with Property Forum the details of the company’s ambitious international expansion strategy and also discussed the pandemic’s effects on the attractiveness of different asset classes.

Developer Warehousing & Logistics EOOD (W&L) has begun the construction of the newest industrial park in Bulgaria, called Logistics Park Sofia (LPS). The park is located about 8 km from the capital Sofia. W&L is planning to build 4 warehouse buildings in the complex which will span more than 116,000 sqm of industrial and office space that will be available to potential tenants. So far this is the first Bulgarian logistics park with such a high concentration of industrial space.

Knight Frank has formally opened a dedicated office in Sofia, becoming a fully branded Knight Frank business from May 2021.

Colliers announced the end of its affiliation with its partner in Serbia (AVT RE DOO) and Greece (AVTB Private Company), effective immediately.

During the last six years, between 2015 and 2020, the Serbian construction industry rolled out into one of the strongest growth cycles in recent history. The powerful surge in construction outputs surpassed all initial expectations, and there are a number of converging factors behind its formidable result. The recovery after the recession gradually transformed itself into a fully-fledged construction boom, which more than doubled Serbia’s construction output, from €2 billion in 2015 to €4 billion in 2019. Even the pandemic in 2020 didn’t change the very positive outlook, although it did cause a slowdown and negative consolidation of construction outputs by some 5% at constant prices. The expected growth should return in 2021, however. The EECFA (Eastern European Construction Forecasting Association) has released its latest article about the Serbian construction industry, written by Dejan Krajinović, Beobuild Core D.O.O.

The Q1 2021 results of the RICS Global Commercial Property Monitor indicate a slightly less negative market sentiment across Europe compared to the previous quarter. Rental growth expectations remain negative within the office and retail sectors across all European nations covered, while the outlook for industrial markets has never been more positive.