The construction of the Astrid Garden project by UBM Development Czechia is reaching its construction end and completion. The complex of seven newly built and one reconstructed building from the beginning of the 20th century in the Holešovice district in Prague is scheduled for approval in July 2024.

Yitzhak Hagag, Co-Founder and Shareholder, Hagag Development Europe, spoke with Property Forum about the increasing demand for the company’s boutique office buildings in central Bucharest and the strong sales book for its residential developments in the city. The company has a development budget totalling €195 million.

Michał Białas, the current Chief Business Development Officer and member of 7R's Board of Directors and Chris Zeuner, the current Chief Investment Officer assumed the positions of co-CEO on 19th June 2024. They replace Tomasz Lubowiecki, founder and current CEO of 7R. The new CEOs will manage in a partnership model, focusing on different business areas in line with their experience.

Nagel-Group, one of Europe’s leading companies in food logistics, will lease one of the buildings within LemonTree’s Booster Zabrze complex. The tenant will move into the facility in the second quarter of 2025. The agreement between the companies has been signed for a 15-year term.

The Institute of Planning and Development City of Prague (IPR) has completed a new study dedicated to the state and development of the number of municipal apartments in Prague. 29,841 apartments are currently owned by the capital city and its districts.

STC Partners has obtained a bank loan of €10 million from Banca Transilvania for the construction of the second phase of its Quartier Azuga residential project in Bucharest.

According to a panel on the future of investments, held at the Future of Real Estate 2024 conference in Warsaw this month, the office industry in Poland is far from blooming but is slowly regaining investor interest. The event was co-organized by Property Forum and RICS.

The European Bank for Reconstruction and Development (EBRD) has invested PLN 43 million (€10 million equivalent) in bonds issued by Dekpol S.A, a Polish manufacturing and construction group.

Natek Poland, a provider of IT and outsourcing services, has opened a new office in the Infinity office building, located at 16 Legnicka Street in Wrocław. 

Cushman & Wakefield has been appointed as property manager for the VIG Fund’s three office buildings in Warsaw: Libra Business Center B, Life Building, and Jasna 26. The award of the mandate will see Cushman & Wakefield manage its entire Polish real estate portfolio of more than 47,000 sqm.