ARTICLES LABELLED WITH TAG development

Panattoni Europe is developing a fifth logistics centre for Amazon. The new facility featuring 135,000 sqm is being built in Sosnowiec in the region of Upper Silesia. Completion of the project is planned for October 2017.

CTP broke ground on its first Polish development in the city of Opole. Initially a 13,000 sqm facility will be built for a long-term client, International Automotive Components.  With additional land available, the park has a planned built-up area of nearly 71,000 sqm.

Skanska Property Czech Republic is expanding its portfolio by completing the acquisition of a plot with a former car repair shop from M2 Real Estate Group, located in the Karlín area of Prague. Skanska plans to build a modern office building called Praga Studios on the property.

Occupier and investment sentiment continues to be positive across Central and Eastern Europe according to the RICS Commercial Property Monitor for Q4 2016. Hungary and the Czech Republic remain the most upbeat markets, with Bulgaria and Croatia also gaining momentum. In Romania the pace of growth seems to be slowing down, although sentiment and projections continue to be broadly positive.

In accordance with its development strategy, Orbis Group enters Bosnia and Herzegovina with signature of a franchise agreement for MGallery by Sofitel Tarcin Forest Resort & Spa in Sarajevo region, Bosnia. The investor of the hotel is Tarcin International Development Company d.o.o. 

Prologis announced full-year 2016 activity for its business in Central and Eastern Europe. The company leased 1.8 million sqms in the region. New lease agreements accounted for 700,000 sqm and lease renewals for 900,000 sqm, with the balance short-term agreements. The CEE portfolio occupancy rate was a record 96.4 percent. 

Futureal Group handed over the Skypark office building as the latest member of the Corvin Promenade. The 25,000 sqm business center boasts the latest technology since it is planned to meet the needs of technology and R&D. 

The Romanian retail market continued to expand in 2016 with total stock reaching 1.22 million sqm in Bucharest and 2.3 million sqm in regional cities. For 2017 no major retail project is scheduled for completion in the capital, while 130,000 sqm are expected to be delivered in regional cities. DTZ Echinox Romania published its retail reports for 2016.

Israeli real estate developer AFI Europe plans to invest €200 million euro in the construction of a residential and shopping complex in Belgarde, the Serbian capital’s mayor Siniša Mali announced. 

In most Central and Eastern European countries the commercial property market is heavily concentrated in the capital city and modern offices in secondary or tertiary cities are virtually non-existent. Luckily, that is not the case in the Czech Republic, where there are cities outside of Prague, most notably Brno, that offer attractive opportunities for international companies. Czech-based developer CTP invited us for the opening ceremony of the new Courtyard by Marriott hotel and showed us the city’s property market.