ARTICLES LABELLED WITH TAG development

The Polish warehouse market remains in great shape. New year-to-year records are being broken. Gross demand amounted to 4 million sqm, of which 75% was made up of new lease agreements and expansions. This is a 32% improvement compared to 2016. High demand side results are due to the accelerating economy, including internal consumption growing month by month, and an increase in investment by companies. Developers responded quickly to high demand from tenants, resulting in 2.36 million sqm delivered on the market and 1.39 million sqm under construction at the end of 2017. The high level of absorption caused the vacancy rate decrease to 4.5%, according to the report summarising 2017 in the warehouse space market in Poland, prepared by AXI IMMO experts.

French-owned international retailer Auchan Retail is poised to increase its commercial capacity in Hungary with a new, integrated logistics centre at Üllő Airport Logistics Centre near Budapest. The 87,200 sqm, greenfield facility will be the largest of its kind ever built in Hungary and is being developed by Goodman. The new hub will be key to Auchan Retail’s strategy to develop a multi-channel offer for Hungarian customers.

A 20,000 square meter logistic centre was taken over by SEG Automotive's domestic unit, which specializes in the development and production starter motors and generators. The technologically advanced warehouse – featuring indoor GPS-tracking – is the largest interconnected hall in the region.

CTP and DSV, the fifth biggest global transport and logistics companies, signed a leasing agreement for approximately 40,000 sqm in CTPark Bucharest West. CTP invested about €12 million in the development of the new logistics spaces occupied by the Danish company in the first days of February.

Skanska’s commercial development unit in CEE has announced the appointment of Aurelia Luca as Managing Director for Skanska Property Romania. She will also become a permanent member of Skanska CEE’s commercial development unit Management Team with immediate effect.

By the end of last year, the office portfolio of the Iulius Company reached a total of 121,000 sqm leasable area following the opening of the second office building within Openville Timişoara, a project developed together with Atterbury Europe in the vicinity of Iulius Mall.

This year, CTP will finish the developments began in 2017 in its parks situated near Cluj-Napoca and Timișoara and will continue the development of the logistics park located in the vicinity of Pitești.

The MLP Group has handed over a ready for use, 24,700 square meter warehouse facility to Żabka Polska S.A., located in the MLP Gliwice logistics park.

P3 has a strong pipeline of Romanian projects for 2018, the company announced. P3 plans to open new locations in Bucharest and the western part of the country.

The European Bank for Reconstruction and Development (EBRD) said it has subscribed €50 million into a €500 million Eurobond first issuance by NE Property Cooperatief, a company owned by CEE-focused real estate investment trust NEPI Rockcastle.