Property developer Globalworth is providing 12,000 sqm of its portfolio in Romania and Poland for Ukraine war humanitarian relief efforts. The spaces will be used to accommodate refugees and provide them with related logistical support as well as depositing and sorting the donations. 

There is increased demand for all categories of property assets in Romania, with office and industrial set to continue their growth streak this year. Property Forum talked to Victor Constantinescu, Managing Partner of Kinstellar’s Bucharest office and Co-Head of the firm-wide Real Estate practice, about the impact of the pandemic on Romania’s real estate market and how the country’s property investment potential can be harnessed in the next years.

Build-to-rent (PRS), industrial and offices are the asset classes that will continue to attract investments in CEE this year, although a prolonged geopolitical crisis could hamper development plans, commented speakers during Property Forum’s latest online event which aimed to provide a property investment outlook for 2022.

CBRE Group announced a decision to discontinue most of its business in Russia in response to the horrific attack on Ukraine. The company has begun the process of exiting its office in Moscow, which provides leasing, investment, property management and valuation services, and terminating two existing affiliate relationships in the country. Consistent with its contractual obligations, CBRE will continue to manage facilities and provide other essential services for existing multi-national clients that are operating in Russia.

Russia’s invasion of Ukraine has prompted such a unified response from the international business community that has probably not been observed since the creation of the internet. Companies across the world are standing with Ukraine, discontinuing their operations in Russia and taking their part in helping the victims of the war. Real estate companies in CEE have also stepped up to donate money, space and other resources to those in need. We’ve compiled a list of the humanitarian efforts announced by local and global companies. Luckily, the list below is not complete as many new announcements are made every day. We’ll keep updating it.

On 15-18 March, the team of CEE-based proptech company Maxify will showcase their innovative product at international real estate fair MIPIM for the first time.

VGP has announced a charitable contribution of €3 million to support refugees from Ukraine in Slovakia, Hungary and Romania.

Futureal-Cordia-HelloParks Group and its employees have made a number of commitments to help refugees from Ukraine.

CTP has committed €10 million to the UN refugee agency UNHCR to provide humanitarian support for more than one million people, mainly women and children, who have fled the war in Ukraine into neighbouring countries.

Ukrainian real estate market players, representing cities, companies and projects, will gather for the fifth time in a row under the “Ukraine @ MIPIM” initiative. Ukraine has been represented at MIPIM for over 15 years.