Romania is expected to see only moderate growth on the horizon. Serbia, having recorded the biggest expansion of almost 100% in the 2014-2020 period, is foreseen to plateau in the upcoming years, according to the Eastern European Construction Forecasting Association’s 2021 Winter Construction Forecast Report.
M7 Real Estate has completed the final sale on behalf of the M7 Central European Real Estate Fund I (M7 CEREF), with the disposal of the Mani Business Centre in Zagreb to Raiffeisen Pension Insurance Company. M7 will continue to asset manage the property on behalf of the new owner.
Croatia’s remarkable recovery from the brutal impact that the COVID-19 epidemic had on the country in 2020 is, like its construction boom, both real and smoke and mirrors, both temporary and long-term, according to Michael Glazer (SEE Regional Advisors) and Tatjana Halapija (Nada Projekt), the Eastern European Construction Forecasting Association’s members in Croatia.
Investment sentiment among property companies has improved since the start of the pandemic and developers are adapting to emerging demands, suggested speakers during the post-COVID-19 investment and asset management strategies panel of SEE Property Forum 2021, Property Forum's annual event in Bucharest.
BIG Shopping Centers Ltd., the controlling shareholder (~95%) of BIG CEE, successfully raised NIS 205 million (approx. €55 million) by issuing secured bonds in the Israeli stock exchange by refinancing the following shopping centres: BIG Fashion Kragujevac, BIG Kruševac and BIG Fashion Outlet Inđija.
Belgrade Waterfront is adding one more residential building which will be its 24th. BW Eterna is a building with 223 residential units on six standard and two recessed floors. This building has apartments of different sizes and structures – from one to four-bedroom apartments.
In spring 2021, Hungarian FM provider B+N Referencia Zrt. acquired the interests of ISS Group in the Czech Republic, Slovakia, Romania and Hungary. With this move, the Hungarian company group has become one of the largest facility operators in the region. As a logical continuation of this expansion, the company purchased a 100% stake in the Slovenian subsidiary of ISS.
SAP is acquiring the newly built Class A office building Park Lane Office Center in Sofia for €49 million. The purchase price is equivalent to a 7.5% asset yield. This is the largest investment deal on the Bulgarian office property market so far in 2021
Two new tenants have joined Galeria Echo in Kielce, owned by EPP. Dealz chain shop has leased a unit of nearly 580 sqm. The retail space of the Carrefour hypermarket is more than 4,500 sqm.
A Rossmann chain outlet has opened in the TGG shopping centre in Wrocław. The new chemist's shop took up over 600 sqm next to the grocery shop. In September, the second TGG site, the Astra shopping centre in Wrocław, will in turn see the opening of a Pepco chain shop.
InPost has opened a second logistics centre in Łódź. Ultimately, almost 300 people will find work in the 8,500 sqm facility. InPost's logistics centre, located in the vicinity of the A1 Central Logistics Hub motorway, occupies 7.5 thousand sqm of warehouse space and 1 thousand sqm of office space.
New appointments
Agnieszka Boroń has joined Equilis Poland to take up the post of Development Director. She has worked in the construction and development industry for over 20 years, specialising in residential project management. Prior to joining Equilis Poland, she was programme director at Nexity. Prior to that, she worked in managerial positions at Dom Development.
Agnieszka Baczyńska took up the position of Head of Leasing - Retail in CPIPG. She is responsible for the commercialization of retail facilities from the CPIPG portfolio. Baczyńska also manages the leasing of office space on the buildings owned by CPIPG.
Ferenc Gondi has been appointed to a new post as Country Head for CTP Hungary. He's been part of CTP's activity for over 5 years.
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