Julius Meinl Living has completed the purchase of Ambasador Hotel in Bucharest, with the project set to undergo a major revamp and reopen as The Julius Bucharest in 2027.

Romanian developer One United Properties said its residential sales and pre-sales volumes totaled €57.1 million in Q1 2024, down by around 10% year-on-year.

The Czech property investment market has been quite quiet during the past months. Sales are rare; banks are taking a rather conservative approach to potential investments and transactions, which is coming across the real estate market. The first panel discussion of last week‘s Prague Property Forum 2024 dived into financing strategies and options for market awakening.

Segro has extended the lease agreement with Ikea in its park in Hostivice. The furniture dispensing warehouse has been located in SEGRO Logistics Park Prague since 2014.

Passerinvest Group has opened the Roztyly Plaza office building, approved in March, to its tenants. It is located in Prague 11, next to the metro station Roztyly.

Redkom Development finalised the sale of Park Glinianka in Łubna in the southern suburbs of Warsaw. The facility was purchased by CEE-BIG B.V. The price has not been disclosed. 

The Dornych project by Crestyl Group is to replace the old shopping centre in the neighbourhood of Brno's Central Station in the upcoming years. The developer has now announced a hotel as a part of this development. Its opening is planned for mid-2028.

Reconstruction of the mixed-use commercial centre Černý Most in Prague 14 is beginning in April this year. The project from the Unibail-Rodamco portfolio is bringing 32 new shops and restaurants and 3 new cinemas.

The JV between Partners Group and Peakside Capital Advisors has completed the construction of the first warehouse facility in City Point Targówek. The 7,000 sqm building is fully leased to DPD Polska and is part of a park, which will provide nearly 100,000 sqm of last-mile logistics space within the borders of the Warsaw agglomeration.

Time Out Market Budapest is set to open in 2025 at Corvin Palace at Blaha Lujza Square. The historic department store first opened in 1926 and has recently been renovated back to its original neoclassical state and redeveloped as a mixed-use real estate property offering retail, leisure and a hotel, timeout.com reports.