ARTICLES LABELLED WITH TAG development

Mitiska REIM, in partnership with Squaretime Development, has announced the opening of two new retail park developments in the Romanian cities of Bistrita and Pascani.

The Iulius Company completed a new office building spanning on over 13,000 sqm in Openville Timişoara, the mixed-use project the company develops together with Atterbury Europe in the vicinity of Iulius Mall. United Business Center 1 (UBC 1) is the second building opened in Timişoara in 2017, after UBC 2 (18,000 sqm) opened in January. Following this latest achievement, the total office area delivered by Iulius on the local market over a single year now adds up to 31,000 sqm.

The MLP Group has allocated land for the construction of a new distribution center for MAKRO Polska to be built in the MLP Czeladź logistics park. It is anticipated that the construction will be complete and the finished warehouses will be handed over to the tenant in June 2018.

Chapman Taylor reported that construction on Expo Business Park in Bucharest is underway. The 70,586 sqm development comprises three separate and self-contained office buildings set over a shared two-level basement parking structure.

The development of Hungary’s largest office building to be constructed in a single block has reached an important milestone: the new Telekom Headquarters building is now structurally complete. Developer Wing Zrt, has customised the 100,000 sqm building fully in line with the specific needs of the Magyar Telekom Group.

Skanska plans to launch the construction of one new office building per year in Budapest. The construction of Mill Park is currently underway and works on the third phase of Nordic Light are to be launched in January 2018.

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.

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.

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.

JLL has been selected by Portuguese company Porto Office as the exclusive commercialisation agent responsible for leasing space at Porto Office A, the second phase of the office and services investment developed in Kraków.