Geosan Development has completed the construction of the Residence Neklanka 2 project in Prague 5 near Anděl. The residence comprises three vila-domes located in a garden on the border between the original residential development and the forest in Radlické údolí, Geosan Development announced.

In this year's 33rd edition of the Cushman & Wakefield Main Streets Across the World ranking, the Czech Republic ranked 19th. The survey compares nearly 50 countries around the world by the level of retail rents on the most expensive shopping street in each country, and for the second time the Czech Republic is represented by Paris Street. It ranks 19th among the world's most expensive shopping streets, 11th in Europe and first in the CEE region. The highest rent achieved in Pařížská, as of the third quarter of this year, is €2,700 per sqm per annum, i.e. approximately €225 per sqm per month. 

AG Capital has announced that Park Lane Developments, its commercial development company, broke ground on its latest project – the AYA Business Centre in Sofia. The building is planned to become the new home for MFG (Management Financial Group). 

CPI Property Group has signed an agreement about selling two companies which own and operate resort hotels on the island of Hvar in Croatia. The agreement concerns the disposal of Sunčani Hvar Hotels, the company announced. The full purchase price has been deposited with an escrow agent, but the amount of the price was not specified.  

In the third quarter of 2023, the European Union investment market exhibited restrained performance, registering a transaction volume of €23 billion which, in turn, represents a noteworthy year-on-year decline of 57%. The cumulative transaction volume for the initial three quarters of 2023 amounted to approximately €80.4 billion, with domestic investors accounting for 53% of these transactions. Markus Arnold, the CEO and sole proprietor of Arnold Investments, observes "a sustained trend where equity-strong private investors continue to be highly active". The leading asset class on the European investment market remained offices with a transaction volume of €24.3 billion, comprising 30% of the total, followed by residential properties (€16.5 billion; 21%) and retail properties (€14 billion; 17%).

Public transport remains the most important amenity among office-based employees from Generations Z, Y, X, and Baby Boomers, according to a CBRE Romania survey. Furthermore, more than half of them would attend events organised in the office space leased by their employer. Meanwhile, the office workspace remains popular among Gen Y employees.

CPI Property Group has announced changes to the company’s Board of Directors and senior management team. David Greenbaum, CFO of the Group since 2018, has been appointed CEO and managing director and was co-opted to CPIPG’s Board of Directors. David replaces Martin Němeček, who resigned from his roles of CEO, managing director, and member of the board of directors. After a short break, Martin will remain with CPIPG in a newly created senior role focused on high-value projects.

Many industry discussions have long chalked up the retail market as an industry in deep recession, with very bleak prospects. According to the participants of the retail panel at the Future of Real Estate 2023 conference in Warsaw in November, the retail industry in Poland is not only not dying, but is regaining vigour and investor interest. The event was co-organized by Property Forum and RICS.

There will be lofts built on the premises of the former Svornost' letterpress factory on the corner of Račianska and Kominarska streets in Bratislava. The building is not listed, but it is still in good condition. In these weeks, reconstruction works are being started, which will turn it into a multifunctional project Lofty Kominárska, writes the web portal yimba.sk.

The Czech industrial real estate market has experienced a major boom in construction activity in 2023. Although there is currently more than 1.5 million sqm of space under construction, there are few newly completed projects and the vacancy rate remains below 2%. The total supply of modern industrial space in the Czech Republic increased by only 182,200 sqm during Q3 2023, bringing the total to 11.44 million sqm at the end of September. Rents have stabilised after rocketing over the last three years and at the end of September were between €7.50-7.70 per sqm per month for warehouse space and €9.50-12.50 per sqm per month for office space, reported, according to a Colliers survey.