Developer UDI Group will launch a residential development in Prague directly opposite the Lužiny metro station. With an investment of more than CZK 1.3 billion (€52.6 million), two apartment buildings will be built here to complement the shopping centre, in line with the original plan from the 1980s.
Prague's Arkády Pankrác shopping centre is changing hands. The Czech real estate fund Trigea is buying it from the Israeli company G City for €265 million, according to information from Trinity Bank, newstream.cz reports.
Hungarian real estate developer and investor Indotek Group has acquired two shopping centres, one located in Valencia and the other in Barcelona, from Socimi Merlin Properties. The amount of the transaction has not been disclosed, Forbes reports.
After 13 years of operation, Eurovea will become the largest shopping centre in Slovakia as its extension is set to open on May 25th. The centre reports an occupancy rate of 95% and promises to bring new brands and innovative concepts. The developer J&T Real Estate is now completing work on most of the buildings in the second phase of the Eurovea project.
Retail centres face pressure from different angles and most of them have started refurbishment programs including energy efficiency investments. Is that enough or do they need to invest more to keep up? Property Forum asked Judit Balatoni, Secretary General of the Hungarian Council of Shopping Centres (HCSC) about the ways operators meet current challenges.
Amadeus Real Estate in Prague is reconstructing a cultural monument from the 1970s - the OD Máj department store. According to the developer's estimate, the reconstruction, which is being carried out by the construction company Metrostav, will cost CZK 4 billion, i.e. €166.7 million. OD Máj should be reopened within a year and should offer a restaurant with a view in addition to shops and a gallery, reports ČTK.
Cushman & Wakefield has taken over the management of a portfolio of three shopping centres and one retail park in the Czech Republic. Hungarian investment group Adventum Group bought this portfolio from Tesco last year in a unique transaction involving 18 retail projects across the CEE region. Cushman & Wakefield assisted its long-standing client Tesco in the sale and is now managing and exclusively leasing 50,000 sqm of retail in the Czech Republic space for Adventum.
Cushman & Wakefield has taken over the management of the Atrium Flora shopping centre in Prague Vinohrady, owned by G City Europe (formerly Atrium European Real Estate), as of 1 January 2023.
Consumer behaviour is changing and shoppertainment is a big opportunity to continue to generate engagement and drive loyalty. Outlet centres can offer a wide range of branded goods and a variety of excitement for the whole family in our turbulent times, Csaba Imre, Country Manager of ROS Retail Outlet Shopping, the operator of Premier Outlet Centre in Biatorbágy, Hungary explains in our latest interview.
Wood & Company has increased its stake in the Bratislava shopping centre Aupark by 27%. Currently, Wood & Company and TAM own 87% of the asset. The stable annual performance of over 11% is now confirmed by Wood & Company's real estate funds.
The Lux Med Group will join the ranks of the Fabryczna Office Park complex being developed by the Inter-Bud Group as part of the Fabryczna City project - an omni-functional investment being built on Aleja Pokoju in Krakow. The lease agreement between Lux Med Group and Inter-Bud Group was signed for over 1.7 thousand sqm.
The group of tenants of Dekada Nysa (southwestern Poland) is expanding. Family Pets & Zoo will occupy a 258 sqm showroom, where it will offer a wide selection of food, supplements for dogs and cats, cosmetics, toys and many other pet products.
Flexion Mobile Plc's Hungarian branch has chosen traditional long-term office leasing over previously used serviced office rental and is moving to the ZenGarden office building in Budapest.
New appointments
Romanian developer ARQA has named Alexandru Rădulescu as Chief Sales Officer. During his career, he has overseen the sale of 17 residential and mixed-use projects.
Multi Corporation appoints Ola Zajac as New Business Ventures Manager. Ola will be looking for new business expansion strategies and venture capital investment opportunities across Europe and will be based out of Lisbon.
Dominika Bombik has taken up the position of Marketing and Communications Director at BPI Real Estate Poland. She will be responsible for the creation and implementation of marketing activities for the residential property product portfolio and the developer's image on the Polish market.
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