ARTICLES LABELLED WITH TAG retail

Immofinanz has opened its eleventh Stop Shop strip mall in Poland. It is located in Zielona Góra, close to the German border.

The sale of office buildings, the increase in the assets’ value and the preparatory works for the next "destination" projects are the highlights of the financial results of Echo Investment for H1 2022. 

Managing retail assets was never an easy job. As the energy crisis is no longer a future problem and the recession seems inevitable, firms involved face huge challenges and have to rethink their strategy and short-term steps to survive. Property Forum asked Miklós Gyertyánfy, Chief Operating Officer at Hungary-based landlord Gránit Pólus Management Zrt. about their way to tackle those challenges.

Polish retail developer Scallier has completed four retail parks in Romania to date, after the opening of a new project spanning 9,000 sqm in Turda in late September. 

Liebrecht & wooD has started preparations for its latest project in Warsaw’s Praga-Północ district. Drucianka Campus will be developed as part of the revitalization of Drucianka (the Warsaw Wire, Pin and Nail Factory), which will be a large-scale mixed-use complex, offering 42,000 sqm of office space and more than 7,500 sqm of additional space for retail, services and events.

Members of the panel on ESG investments at CEE Property Forum 2022 in Vienna agreed that environmental issues are addressed much better than the social and governance parts of ESG. Panellists emphasised that leading organizations in the CRE industry should give clear guidance for improving 'S' and 'G' performance at all levels.

Oasis Retail Development & Consulting, owned by Sibiu-based Klaus Reisenauer and Kurt Wagner, has started the second development phase of the Prima Shopping Center project in Sibiu, following an investment of €30 million.

As part of its value-creating growth strategy with a focus on high-return properties, Immofinanz is acquiring 53 retail properties in the Czech Republic, Poland, Slovakia and Hungary from its majority shareholder CPI Property Group (CPIPG). The acquired portfolio has roughly 217,000 sqm of rentable space and is fully let with an occupancy rate of 99%. The purchase price totals €324.2 million. The purchase contract was signed today, together with the closing for 36 retail properties in the Czech Republic and Poland which have 108,000 sqm of rentable space. The purchase price of €191 million for those properties was financed from existing funds. The closing for the remaining 17 properties in Hungary and Slovakia is expected to take place by the end of this year.

Major international fashion and beauty brands will be coming to the shopping centre this autumn. The centre has been refurbished and developed by Hungarian company Wing.

Revetas Capital announced a 29% increase in turnovers and an 18% increase in footfall for the first 8 months at Park Center Sofia, Bulgaria, compared to the same period in 2021.