Ikea has started the construction of its second store in Romania, which will be finished in H2 2018 following an investment of approximately €86 million, which includes the acquisition of the land.

Arcona Property Fund, listed on the Amsterdam Stock Exchange, announced the successful closing of the sale last week of one of the properties in its Prague portfolio. The buyer of the functionalist administrative building on Drahobejlova Street in Prague 9 is the Czech Medical Chamber (ČLK), which has long been looking for a new building for its Prague representative office.

Globalworth confirmed that is plans to raise approximately €300 million through a non‐pre-emptive placing of new ordinary shares. The funds would be used for new purchases in Poland (two office buildings) and Romania (three office building) with a total value of €410 million. The company also published its latest development plans.

The first phase of Futureal’s Corvin 5 office complex is the first building in Hungary and the second in Europe to receive the international WELL Building Platinum pre-certification. The office building valued at €90 million and equipped with the latest environmentally friendly technologies is expected to be handed over by the end of 2018 in Budapest. Corvin 5 has been designed to make a positive impact on employees’ health and well-being.

Real estate developer London Partners is to invest €26 million in SoHo Unirii residential project in Central Bucharest, which will have a total of 236 apartments. Construction works started this summer and completion is scheduled for Q1 2019.

Immofinanz posted a significant increase in net profit from continuing operations (excl. Russia) for the first three quarters of 2017, to €116.3 million (Q1-Q3 2016: €-217.8 million). Rental income remained stable at €174.1 million despite the ongoing sale of non-strategic properties (Q1-Q3 2016: €174.0 million). Adjusted for new acquisitions, completions and sales (like-for-like), rental income rose significantly, by 3.9% to €138.4 million. The results from Asset Management grew 11.3% to €122.6 million; financial results moved strongly into positive territory at €88.6 million (Q1-Q3 2016: €-143.9 million). This was primarily a result of positive valuation effects from the CA Immo and BUWOG shareholdings, and lower financing costs. Overall, net profit (incl. Russia) improved to €-59.1 million (Q1-Q3 2016: €-409.5 million).

AFI Europe Romania has signed the first lease agreement for AFI Tech Park, the company’s newest business park developed in Bucharest. World Class Romania, a leader on the Romanian health & fitness field, will be the first tenant of the campus, by leasing 1,500 sqm GLA spread on the ground floor and the first floor of AFI Tech Park 1. The lease contract was signed for a period of 10 years.

Prologis has signed a new lease agreement with ESA Group for 10,740 square metres at Prologis Park Prague-Uzice in the Czech Republic. ESA Group, one of the leading logistics companies in Central Europe, will lease Building 2, making the 97,800-square metre Prologis Park Prague-Uzice fully occupied. The company is an existing customer of Prologis at Prologis Park Prague D1 East, southeast of Prague. Cushman & Wakefield brokered the transaction.

In Q3 2017, Echo Investment posted a net profit of €12 million (PLN 50 million). The main contributors were: signing final sale agreements for 238 apartments, increase in the value of projects under construction, the sale price increase of the Q22 building, dividend from EPP as well as the compensation for the expansion of Outlet Park in Szczecin.

One United Properties, a real estate developer specialised in Bucharest residential property, will issue €20 million worth of 4-year bonds through private placement, fully funded by co-management by Credit Value Investments in Poland. The money will be spent on the company existing and new residential developments.