In 2024, PSN will begin a two-year reconstruction of the famous functionalist building in the centre of Pardubice. The first republican Grand Hotel, which served as a shopping centre for over 20 years, will now be transformed into a modern shopping centre with full preservation of the original legacy of the architect Gočár. The renovation is expected to cost €12.331 million, PSN estimates.

One of the biggest transactions of the year in the Czech real estate market is about to take place. Negotiations for the sale of the OC Letňany shopping centre are supposedly ongoing in Prague. After six years, the German owner of the shopping centre is considering selling the property, writes HN.cz, as confirmed by two sources from the Central European M&A market.

Hungarian investor Appeninn Holding has signed contracts to buy the Kanizsa Centrum shopping centre in the southwestern city of Nagykanizsa and two strip malls (Zone Parks) in Székesfehervar and Zalaegerszeg. By acquiring these commercial properties the firm may comply with conditions made by Scope Ratings and thus hopes to get a higher rating.

NEPI Rockcastle, the biggest owner and developer of shopping centres in CEE by market value, said its net operating income soared by 17% to a record of €405 million compared to 2021 over strong tenant turnover and base rental growth.

Apart from remodelling the food court, a 10% extension is planned in this centrally located retail complex. This is the biggest change in the life of Westend shopping centre, managed by Granit Polus. The company has not disclosed the size of the investment.

Industrial park developer Cometex, owned by Romanian retailer Altex România, has sold the Bucovina shopping centre in Suceava to local entrepreneur Andrei Mandachi in a transaction valued at €7 million.