ARTICLES LABELLED WITH TAG industrial

CTP has announced the appointment of two new Managing Directors for the business. Effective from 1st March 2024, Piotr Flugel has been appointed as the Managing Director for Poland and Daniela Boytcheva has been appointed as the Managing Director for Bulgaria.

Industrial developer CTP has appointed Andrei Brînzea as Business Development Director in Romania as part of its growth strategy in the country.

Industrial developer Accolade published its year-end results for 2023. Despite lower construction activity across the market overall, Accolade’s total lease volume remained the same as 2022 thanks to renegotiations. Accolade either leased or extended the lease of existing agreements for 555,000 sqm worth of properties (of which 168,000 sqm is part of the fund’s portfolio). Furthermore, total rental income grew by 26% to €148 million (with nearly €100 million falling under the fund’s portfolio) over the course of last year. By expanding into Croatia, 2023 also saw Accolade further grow its operation through the addition of another European country.

Industrial developer CTP recorded a 20.1% gain of net rental income to €543.2 million in 2023 compared to the previous year over a combination of indexation and reversion on renegotiations and expiring leases.

CTP has signed three key ten-year leases in its most sustainable industrial park near Prague, comprising more than 60% of a new 32,000 sqm building that will be delivered by the end of Q2 2024 at CTPark Prague North.

The expansion of Arete Park Dunajská Streda has received a building permit. It will offer an additional 13,000 sqm of modern space for storage, logistics or light manufacturing, within driving distance of Bratislava, Budapest and Vienna.

The alliance aims to combine the decades of construction experience of the DVM Group and the extensive industrial general contracting experience of Greenfield Development. However, the new partnership does not represent a merger.

Lion’s Head Investments, the commercial real estate investor owned by Old Mutual Property and AG Capital, has secured €150 million in fresh funding from the International Finance Corporation (IFC), part of the World Bank Group.

The S3 hall in P3 Ostrava Central has been leased to retailer Bezvapostele.cz. The company is planning to operate a sales warehouse in the building from August 2024.

Panattoni continues its investments in the East of Poland with the handover of another development in the Lublin region. The first tenants are now starting their operations in Panattoni Park Lublin IV.