Romanian Global Investment Group has started the development of a new residential project in Bucharest that will feature 240 apartments following an investment of €40 million.  

More brownfield sites in Prague are set for new residential development. Czech developer Ekospol is planning its big comeback to the domestic development scene and wants to build 2,000 flats in Prague's Zličín district within 10 years. It is now waiting for the necessary permits to start building Ekocity Zličín, company spokesman Filip Sušanka told Property Forum today. 

The military boarding school Hviezda in Bratislava, also known as "Kukurica", has been dilapidated for many years. The iconic high-rise building from the 1970s has a distinctive architectural style yet is a local landmark. However, it may already be on the verge of being saved. The Ministry of Defence of the Slovak Republic (MoD) has started taking the first steps towards reconstruction, according to Slovak websites reality.trend.sk and yimba.sk.

Slovak developer Cresco is entering the Czech real estate scene with a CZK 1 billion project for a 500-apartment apartment building in Prague's Holešovice, the company announced on the project's website. And it says it already has other plans for further expansion in the Czech Republic.

Romanian developer Forty Management has completely sold all the apartments and leased all spaces in the Central District 4 Elements project that was completed last year following an investment of €25 million.

Ozan Tuncer has been appointed as the new CEO of Cosmopolis, Opus Land Development's residential compound located near Bucharest. He is replacing Ahmet Buyukhanl, who remains the main shareholder of the company. 

Property group Immofinanz has presented its new residential brand On Top Living during MIPIM, the biggest real estate fair held in Cannes. The company plans to develop up to 12,000 smart and sustainable apartments at affordable prices in the medium term. 

JRD Development, a member of the JRD Group, has completed the construction of the energy-efficient Rezidence Michelangelova project in Prague 10. The architecturally distinctive building with 29 apartments is complemented by two commercial spaces and a small park with a playground and gazebo. The project, in which the developer tested a new type of air duct to increase acoustic comfort, is completely sold out, JRD Development announced.

Realized prices of flats in Slovakia rose by more than 10 % in Q4 2021. Prices of sales recorded in the cadastre of the real estate continued to grow dynamically at the end of 2021, dwellings were sold more expensive by more than 10 % year-on-year, and prices rose by 3.6 % compared to the summer months, the Statistical Office of the Slovak Republic announced.

The average asking price for apartments in Romania gained 0.8% in February to €1,609 per sqm compared to the same period of last year. Over the past 12 months, the average increase of prices stood at 18.5%, according to property classifieds platform Imobiliare.ro.