ARTICLES LABELLED WITH TAG SEE

Poseidon Group continues to invest in the Serbian retail market by bringing its Capitol Park brand of retail parks to Zajecar in spring 2019.

Market sentiment remains positive across Central and Eastern Europe, according to the RICS Commercial Property Monitor. Strong demand from tenants and investors persists in almost all market segments but the number of signs that some markets have reached their peak continues to grow.

Advised by Colliers International’s UK Hospitality Asset Management team and the local Colliers office in Albania, Hyatt Hotels Corporation has announced a management agreement with Kastrati Hotels & Tower for the first Hyatt-branded hotel in Albania.

Market players are optimistic of the future of the SEE property market, according to the speakers of Balkans Property Forum 2018, co-organized by Property Forum and RICS in Belgrade, which brought together more than 150 industry experts.

Erste Group has laid the cornerstone of the second phase of the Sirius Offices business complex in Belgrade which will include the construction of 12,500 square metres of space over eight floors and a parking lot for 200 vehicles. Erste plans to invest €25 million in the second phase of the project. The building will be completed by the middle of 2020.

Bulgarian Real Estate Fund received permission for the construction of a new building in the state-owned Science and Technology Park in Sofia.

On 4 December 2018, Balkans Property Forum 2018, a conference and networking event for real estate professionals from all over Southeastern Europe will be held in Belgrade. Over 100 guests will come together in the Serbian capital to discuss key issues and explore the latest trends influencing the future of the real estate industry. Key speaker of the event, co-organized by Property Forum and RICS, answered questions about the local real estate market.

M7 Real Estate has refinanced a €4.8 million debt facility secured against the Mani Business Centre in Zagreb, Croatia with Erste Bank Zagreb following the completion of M7’s successful asset management strategy for the property.

Immofinanz is driving the expansion of its Stop Shop retail park brand and has now purchased eight retail parks in Slovenia, Serbia and Croatia. The purchase price totals approximately €90.5 million. The newly acquired properties are fully rented and generate an annual rental income of roughly €7.2 million, which represents a gross return of 8.0%. These transactions increase Immofinanz’s Stop Shop portfolio to 80 locations in nine countries with over 567,000 sqm of rentable space and a carrying amount of approx. €800 million. Further acquisitions are currently under evaluation, and two Stop Shops in Poland and Serbia are now in the active development phase.

Ikea has postponed the opening of its €80 million second store in Bucharest for next year. The opening of the store in Eastern Bucharest was initially scheduled for the end of this summer.